Stock · Intermediate

Perform a Physical Inventory Count

Learn to create a physical inventory in the ManWinWin App, record counted quantities and compare them with stock records. Identify and document discrepancies without proceeding to stock adjustment.

Accurate spare parts inventory is crucial for effective maintenance management, ensuring materials are available when needed and preventing costly downtime. A physical inventory count provides a snapshot of actual stock levels, helping to reconcile records and improve overall inventory reliability. This process is fundamental for maintaining operational efficiency and financial accuracy within your maintenance department.

Where it's available and step by step

Step by step in ManWinWin App

1
In the ManWinWin App, start New inventory for the store you will physically count.
2
Add the materials included in the count manually or by scanning their barcodes.
3
Locate each listed material in the selected store and count the quantity physically present.
4
Record the counted quantity for each material, using Next and Previous to move between items.
5
If you use Skip for an item, return to it and record its physical quantity before completing the count review.
6
Compare each counted quantity with the recorded stock for the same material and store, and document any differences in your count notes.
7
Recount materials with discrepancies and review their recorded counts, leaving consolidation and stock adjustment for a separate operation.

Theory and technical background

Importance of Accurate Inventory Data

Accurate inventory data is the backbone of efficient maintenance operations. It directly impacts asset availability, as the right spare parts must be on hand to perform both planned preventive maintenance and urgent corrective repairs. Inaccurate records can lead to stockouts, delaying critical work, or conversely, excessive stock, tying up capital and increasing carrying costs. Regular physical counts, as part of an asset management strategy aligned with ISO 55000, ensure that the CMMS reflects reality, supporting informed decision-making and optimal resource allocation.

Types of Inventory Counting Methods

While a full annual physical inventory is comprehensive, organizations often employ cyclical counting, where different sections of inventory are counted on a rotating basis. This continuous approach helps to identify discrepancies more frequently and allows for immediate corrective actions without disrupting operations significantly. Regardless of the method, the goal is to validate the accuracy of inventory records, ensuring that the quantities recorded in the CMMS match the physical stock. This verification is vital for KPIs like stock turnover and inventory accuracy, directly affecting maintenance costs and efficiency.

Identifying and Documenting Discrepancies

The core purpose of a physical inventory count is to identify discrepancies between recorded stock and actual quantities. A discrepancy indicates either a loss (shrinkage) or a gain (overage) of materials, which can stem from various causes such as data entry errors, unreported usage, theft, or receiving mistakes. Properly documenting these differences, including potential reasons, is a critical step. While the count itself focuses on identification, the subsequent analysis and adjustment processes are essential for correcting records and implementing measures to prevent future discrepancies, enhancing the reliability of your inventory control system.

Best practices

Clearly define count areas and assign responsibilities to avoid double-counting or missed items.
Ensure all incoming and outgoing material movements are halted or carefully tracked during the count.
Utilize barcode scanning in the ManWinWin App to expedite counting and minimize manual entry errors.
After documenting discrepancies, investigate their root causes to implement corrective actions beyond simple stock adjustments.

Frequently asked questions

Why is it important to perform physical inventory counts regularly?

Regular counts ensure your CMMS inventory records accurately reflect physical stock. This precision is vital for optimal maintenance planning, preventing stockouts, reducing excess inventory, and improving overall operational efficiency and cost control within your organization.

What should I do if I find a discrepancy during the count?

Document the discrepancy clearly in your count notes within the ManWinWin App. Recount the item to confirm the physical quantity. Do not adjust the stock directly during this phase; focus on accurate identification and documentation for later review.

Can I perform a physical inventory count for only specific materials?

Yes, you can initiate a physical inventory count for a specific store and then manually add only the materials you intend to count, or use barcode scanning to selectively include items. This supports cycle counting methods.

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