Phase 3: Inventory

Phase 3 focuses on the setup of Inventory Templates and the taking, reviewing, and approving of Inventory Counts. In a periodic inventory system, performing accurate Inventory Counts is crucial to obtaining accurate Cost of Goods Sold.

Phase Goals

• Inventory Count Template built for all Locations

• Managers trained on how to perform inventory

• Admin team understands the first count beginning balance process

• Alignment with Accounting Processes, including creating the Fiscal versus Operational Calendar, when you should take counts, when all invoices should be approved for Item Costing, etc.

• Establish DWM Tasks for Inventory

• Timeline: 2-3 weeks

Advanced Topics

• Take at least test count

• Review the Actual vs Theoretical Analysis report

What is coming up in the next phase?

• How to build recipes

• POS Menu Item to Recipe Mapping

• Menu Profitability Reports

Additional Resources

• Combined Fiscal and Operational Calendars

• {{ glossary.R365}}-red-app-inventory-counts-overview" target="_blank" translate="no">Inventory Counts conducted on the R365 Red App

• Review and approve Inventory Counts

• Reporting:

  • Operations Reporting Essentials 

  • Actual vs Theoretical Analysis

  • Actual vs Theoretical Analysis - Troubleshooting Variances

  • Profit and Loss