Setting Up Cycle Counts for Auditing Assets

1. Click "Settings" in the Guy With The Tie dropdown located in the upper right corner of Foreman.

2. Click on the "INVENTORY" tab on the settings page.

3. Navigate to the Asset Cycle Configuration section on the Inventory Settings page. In this area you will define the cycle count parameters.

Set Frequency and Scope: Decide how often cycle counts will occur and what part of the inventory will be counted each time. You may choose to count all items or focus on high-value or fast-moving items.

Organize your inventory into logical categories such as type, location, or usage frequency. This segmentation helps in focusing your cycle counts more effectively.

Assign Responsibilities: Determine who in your team is responsible for counting each segment. Clear assignment of responsibilities ensures accountability.

4. Click within the text field located below the Inventory types to select the type of inventory you would like to count. Any "Inventory Type" can be included in the count, that includes customer inventory types. You can also include multiple types of Inventory.

5. Click within the text field located below Timeframe to select the "Calendar Year" or "Rolling Year". This indicates what timeframe you would like the cycle count to be on.

6. Click this number field below Counts per time frame to select the number of counts per the selected time frame.

For Example:

If you select 1 count per time frame within a calendar year the count will happen once a year.

7. Click this number field below Cycles per count f to select the number of cycles per the selected time frame.

For Example:

If you select 4 cycles per count within a calendar year the cycle will occur 4 times within a year (Once every 3 months).

8. Don't forget to save your Cycle Count Settings at the bottom of the page.

9. Navigate to the Assets page within Foreman to finish setting up the cycle count.

10. Click "Actions" within the cycle count section on the Assets page.

11. Click "View Current Cycle" to get the current cycle started.

12. Click "Start Cycle" in the current cycle modal to start the current cycle count

13. Within the cycle count modal you have the ability to export the cycle count results, Finalize the Cycle count and end(Done) the cycle count.

Please note - If you finalize the cycle count you will not be able to update that cycle once it's finalized.

Tips!

Create a Calendar: Create a calendar of cycle counts. Input the dates and times when each Asset segment will be counted.

Automate Reminders: Set up automated reminders to notify the responsible team members a few days before their cycle count is due.

Train the Team: Organize training sessions for all team members involved in the cycle counting process. Ensure they understand how to use Foreman to record counts, how to handle discrepancies, and the importance of accuracy.

Provide Documentation: Distribute written guidelines and procedures that detail the steps of the cycle count process within Foreman.