Perpetual inventory gathers all data into one centralized inventory management system — making it easy to operate multiple locations and stores while tracking the inventory for all of them. Perpetual inventory can generate reports on buying patterns throughout the year which allows you to forecast demand spikes and slow periods while optimizing your supply chain around the purchasing habits of your customers.
This will result in higher startup costs, especially if you have multiple locations. Plus, all your employees will need to be trained to use the new equipment. Periodic inventory is fine in the beginning, but the insights, increased accuracy, and informed decision-making power that comes from perpetual inventory will help you optimize every process in your business — something periodic inventory will never be able to do.
Get a big picture view of your business, without losing sight of the details. DEAR makes enterprise-level inventory management, manufacturing, sales channel integration, reporting and more accessible to businesses of all sizes. Subscribe Thanks For Subscribing! Look out for monthly product updates and weekly blogs. Every physical goods business has to make a choice between periodic vs perpetual inventory. So, which one is right for your business?
What is Periodic vs Perpetual Inventory? Periodic Inventory A periodic inventory management system is exactly what the name suggests: Inventory is tracked by a periodic physical count of every item in stock. Melanie has been writing about inventory management for the past three years. When not writing about inventory management, you can find her eating her way through Auckland.
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We can help figure out the best way to handle inventory in your system and how to decide if you should use either perpetual or periodic inventory methods as well as many other small business strategic consulting services. How do you decide if you should use either perpetual or periodic inventory methods?
What are the key decision factors?
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