The ABC code is used for cycle counting. Cycle counting replaces the need for annual stock takes by counting the stock on a regular basis, i.e most working days.
|•||A code items include the most valuable stock and is usually counted every month and is normally less than 1% of the items.|
|•||B code items is the average value items and is counted every 6 months and is normally about 9% of items.|
|•||C code items are the low value stock items and is counted once a year and are the remaining 90% of items.|
The ABC codes can be automatically set by taking a snapshot of the current inventory. Go to inventory/System maintenance/Initialise ABC codes.
Enter the code or press the dropdown for existing codes.
Enter the description for the selected code
Enter the percentage of stock to be included in this code. The total percentages must add up to 100 percent.
Enter the number of days between each item count.