Inventory Count Process

The sequence of events in the inventory stock counting process using PeopleSoft Mobile Inventory Management is:

  1. Define the parameters for your counting event using the Setup Counting Event component in PeopleSoft Inventory. These parameters are defined at the business unit level and are used when the system creates the next counting event. In this component you define the parameters for:

    1. Creating a physical inventory count or a cycle count.

    2. Creating a blind count or a non-blind count.

    3. Displaying or excluding zero-quantity items.

    4. Defining the tolerance settings of the reconciliation report.

    5. For a cycle count, determining what subsection of the business unit should be selected for counting.

      This can be done by a number of options including; certain material storage locations, specific items or item families, items with a negative balance, or items that are due to be counted.

  2. Create the counting event by running the Event Creation process in PeopleSoft Inventory.

    A unique counting event ID is assigned to the counting event which includes a header and a list of the items being counted. The item information includes material storage location, lot ID, serial ID, container ID, quantity, and unit of measure (UOM). When using PeopleSoft Mobile Inventory Management to count inventory stock, the counting event is a system-defined count that obtains the item information from the PHYSICAL_INV record.

  3. Run the Create Counting Sheet process to sort the counting event by item or material storage location.

    You can also use this process to break the counting event into counting groups to enable multiple users to count different sections of the same counting event.

  4. Use mobile devices to count inventory items.

  5. Run the Physical Accounting Reconciliation report to detect any recovery or shrinkage and to determine whether you need to correct any mistakes.

  6. When you are satisfied with the count, run the Stock Quantity Update process to update PeopleSoft Inventory with the count data.