Posts tagged "inventory auditing"

Not very long ago, in the early 90’s, I was working for a large engineering firm in Chennai. I played multiple hats such as Layout Designer, Coordination with PPC and Inventory Management. Once in a year, that is during the first week of April the whole factory comes to a halt for couple of days. It is not that we didn’t had orders, but it was for inventory counting. 

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Inventory auditing is the process of reconciliation between the quantities of physical inventory and the quantities of logical inventory. Here physical inventory refers to the inventory we have on-hand, hence also known as on-hand inventory. And logical inventory refers to the inventory we have on the books or in your ERP or in your system. 

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