Inventory Control: How to Track Inventory Accuracy? (Stocktake, Excel Calculation Tutorial)

How bad is your inventory accuracy? 📦🎯📦
On average, 35% of our inventory is inaccurate.
And most of the time, we have less than expected 😢

Here are the 8 reasons why stock discrepancies appear :

• Lack of regular tracking
• Wrong supplier delivery
• Quality issues not recorded
• Wrong customer returns
• Lack of process & training
• Lack of automation
• Lack of innovation (like RFID)
• Too much inventory

The first step towards improving your inventory's accuracy is following my NEW step-by-step YouTube tutorial!

I will explain in simple terms what to look out for and the best practices to track your inventory as precisely as possible!

We will go through the following:
• What inventory accuracy is
• Why it is so important
• Inventory formula in Excel (download below the video)
• How to verify your stock (stock take process)
• 8 Reasons for poor inventory accuracy
• How to improve inventory accuracy
• A special focus on RFID Decathon group project with a super cool robot 🤖

You can download an Excel to start accurately tracking your stock today 🚀

Enjoy this video, and let me know what is YOUR best solution to improve your inventory accuracy 🙋‍♂️💪.

▬▬▬▬▬▬▬▬▬▬▬ CHAPTERS ▬▬▬▬▬▬▬▬▬▬▬▬

0:00 Intro
0:38 Inventory Accuracy Meaning
2:30 Inventory Accuracy Importance
3:43 Inventory Accuracy formula in Excel
7:52 8 Inventory Discrepancies Causes
12:03 My Inventory Management Workshop

#supplychain #logistics #inventoryaccuracy #stocktake

[xhibitplus]

This is one of the best videos I have watched as I’m studying to move from forklift driver to inventory

[giuliogennari]

Great content Edouard! It'd be interesting to have a short video on the stock-taking process. And how to make it better from your experience.

[texmexdragon]

Fantastic content and presentation. Love the fact that there are no commercials...but this will change once you get more subscribers! But seriously, so much content and so well organized. Great job!

[parthagrawal]

I really liked the video content. I have a doubt if the IT system inventory is 100 and Real check is 120. then how can
inventory accuracy be 0%??? Won't it be 80% or 120%???. Also, I am really impressed with the inventory accuracy dashboard, is there a way I can get the template for it?

[sarvanandhamthirunavukkara]

Hi could you pls explain then manufacturing sector warehouse kpi

[rifaie]

do you have guide for inventory in cafe? which syrup flavour, coffee bean, & Fresh milk..? 😀😀

[MohanMohan-zgmr]

Hi i am looking for paid trainings for my professional career progress.
Basically i am.warehouse personal working in pharmaceuticals industry having 26 years