What is Perpetual Inventory?

 

Perpetual Inventory can help many businesses gain better control of their Inventory without relying on stocktakes.

Perpetual VS Periodic Inventory

Perpetual inventory changes in real time when you buy and sell stock, and is very powerful combined with modern scanners and RFID equipment. Periodic though is related closer to having to rely on stock takes to provide the most accurate information. Modern scanners and RFID equipment really work well with perpetual inventory as incoming and outgoing stock can be maintained through automation rather than reliance on human entry.

Most Retail and Warehouses should choose Perpetual Inventory even without modern scanners. Perpetual Inventory provides the best real time methods to show accurate Inventory count without having to rely on periodic stock taking as much to keep an accurate eye on your Stock and values.

It is vital to have a ERP system that has a great Perpetual Inventory system, and data needs to be accurate of course to remain integral.

Risks of loss are still evident within a perpetual system as your recording of stock is in real time, if theft occurs or accurate data is not given to the ERP system then your inventory will still have issues.

What is Perpetual Inventory?

What is Perpetual Inventory? Quick video, which explores briefly the meaning and the difference between periodic inventory

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