Checklist template

Inventory cycle counting for retail stores

A ready-to-use checklist with 105 items in 6 sections, covering Count schedule, Count method, Adjustments, Root causes, Location accuracy, Records. Use it as-is in Bindy, or adapt it to your own standards in minutes.

  • 6 Sections
  • 105 Items
  • 85 Yes / No checks
  • 6 Scored ratings
  • 115 Points

Use this template How audits work

1. Count schedule 18 items

  1. Departments or categories counted this week Short text
  2. A cycle count calendar for the current quarter is posted in the stockroom office Yes / No 1 pt
  3. Every category appears on the calendar at least once within the count cycle set by company policy Yes / No 1 pt
  4. High-shrink categories are scheduled more often than the rest of the store Yes / No 1 pt
  5. Items kept in locked cases are counted at the frequency set by company policy Yes / No 1 pt
  6. System-generated counts, such as negative on-hands, appear on the daily task list Yes / No 1 pt
  7. Every count assigned in the past week was completed by its due date Yes / No 1 pt
  8. Number of assigned counts overdue today Number
  9. Counts are scheduled before opening or during the store's slowest hours Yes / No 1 pt
  10. A category is not scheduled for counting on the day its truck is being received Yes / No 1 pt
  11. Each scheduled count has a named employee assigned Yes / No 1 pt
  12. The negative on-hand report is worked every day Yes / No 1 pt
  13. Date the negative on-hand report was last cleared to zero Date
  14. An item found empty on the shelf with stock showing in the system is counted the same day Yes / No 1 pt
  15. Items showing stock but no sales for the period set by company policy are sent for a count Yes / No 1 pt
  16. A skipped count is rescheduled within the same week Yes / No 1 pt
  17. The store manager checks count completion every week Yes / No 1 pt
  18. Count schedule completion over the past four weeks Rating
    • Every count done on time 5 pts
    • A few counts late 3 pts
    • Counts missed or not tracked 1 pt

2. Count method 19 items

  1. Counters enter quantities in the handheld's count function, not on paper to be keyed later Yes / No 1 pt
  2. Counters scan the barcode on the product, not the shelf tag Yes / No 1 pt
  3. The handheld does not show the system on-hand until the counted quantity is entered Yes / No 1 pt
  4. Every location of an item is counted in the same session: home shelf, end cap, top stock, back room Yes / No 1 pt
  5. Top stock is counted from a ladder or brought down, never estimated from the floor Yes / No 1 pt
  6. Sealed cases are counted using the case quantity printed on the carton Yes / No 1 pt
  7. Open cases are counted unit by unit Yes / No 1 pt
  8. Merchandise set aside for customer pickup orders is counted or left out as the company count procedure states Yes / No 1 pt
  9. Damaged merchandise awaiting write-off is left out of the sellable count Yes / No 1 pt
  10. Deliveries for the category are posted in the system before the count starts Yes / No 1 pt
  11. Go-backs for the category are returned to the shelf before the count starts Yes / No 1 pt
  12. Returns waiting at the service desk are processed before their category is counted Yes / No 1 pt
  13. Multi-packs are counted in the selling unit the system uses Yes / No 1 pt
  14. Each color, size or flavor is counted under its own barcode Yes / No 1 pt
  15. Each employee who counted in the past week has cycle count training on their training record Yes / No 1 pt
  16. A second employee recounts any variance above the limit set by company policy Yes / No 1 pt
  17. The auditor's recount of 10 items matches the counter's quantities Yes / No 1 pt
  18. Number of the auditor's 10 recounts that differed from the counter's quantity Number
  19. Count method observed during this audit Rating
    • Procedure followed at every step 5 pts
    • Minor shortcuts 3 pts
    • Quantities estimated or locations skipped 1 pt

3. Adjustments 20 items

  1. Adjustments above the approval limit show a manager's approval in the system Yes / No 1 pt
  2. No employee approves an adjustment from a count they performed Yes / No 1 pt
  3. Every adjustment in the past week carries a specific reason code Yes / No 1 pt
  4. Fewer adjustments are coded "unknown" or "other" than the share allowed by company policy Yes / No 1 pt
  5. Adjustments are posted on the day of the count Yes / No 1 pt
  6. No adjustment in the past week was posted without a physical count behind it Yes / No 1 pt
  7. The store manager signs the weekly adjustment report Yes / No 1 pt
  8. The 5 largest positive adjustments of the past week each have a cause noted Yes / No 1 pt
  9. Pending receipts for the item are checked before an adjustment is posted Yes / No 1 pt
  10. Pending store-to-store transfers for the item are checked before an adjustment is posted Yes / No 1 pt
  11. The neighboring sizes or colors are checked for an offsetting variance before an adjustment is posted Yes / No 1 pt
  12. Damaged merchandise is written off under a damage code, not through a count adjustment Yes / No 1 pt
  13. Empty packages found on the floor are recorded under a theft code Yes / No 1 pt
  14. Merchandise taken for store use is recorded under a store-use code Yes / No 1 pt
  15. Donated merchandise is recorded under a donation code Yes / No 1 pt
  16. Only the roles named in company policy can post adjustments in the system Yes / No 1 pt
  17. No item was adjusted both up and down in the past 30 days Yes / No 1 pt
  18. Net value of adjustments posted in the past week (dollars) Number
  19. Number of adjustments awaiting approval today Number
  20. Adjustment discipline Rating
    • Recounted, coded and approved 5 pts
    • Gaps in coding or approval 3 pts
    • Posted without control 1 pt

4. Root causes 16 items

  1. The 10 largest variances of the past week are listed with a cause for each Yes / No 1 pt
  2. Category with the largest variance in the past week Short text
  3. Vendor shortages found through counts are claimed from the vendor or the distribution center Yes / No 1 pt
  4. Wrong case-pack quantities in the item file are reported to the head office Yes / No 1 pt
  5. Cashiers are coached when a variance traces to one barcode scanned for several different items Yes / No 1 pt
  6. Store-to-store transfers are posted by the sending store when the merchandise leaves Yes / No 1 pt
  7. Incoming transfers are posted by the receiving store on arrival Yes / No 1 pt
  8. Online orders picked from the store's shelves are deducted from store inventory Yes / No 1 pt
  9. Returned items are scanned back to the item actually returned Yes / No 1 pt
  10. Items that show a variance in two counts in a row are placed on a watch list Yes / No 1 pt
  11. Variances that point to theft are sent to loss prevention Yes / No 1 pt
  12. Each corrective action has an owner Yes / No 1 pt
  13. Each corrective action has a due date Yes / No 1 pt
  14. Department employees asked can name the main cause of count variance in their department Yes / No 1 pt
  15. Variance causes are discussed at the store's weekly management meeting Yes / No 1 pt
  16. Root cause follow-up Rating
    • Causes found and acted on 5 pts
    • Causes noted with little action 3 pts
    • Variances adjusted without investigation 1 pt

5. Location accuracy 18 items

  1. Each of 10 items sampled is in the location the system shows Yes / No 1 pt
  2. Number of sampled items not found in their system location Number
  3. Back room shelves carry a scannable location label Yes / No 1 pt
  4. Product put away in the back room is scanned into its location Yes / No 1 pt
  5. Product pulled from the back room is scanned out of its location Yes / No 1 pt
  6. Top stock sits above the home shelf of the same item Yes / No 1 pt
  7. No case in the back room is without a location Yes / No 1 pt
  8. Clearance merchandise moved to a clearance fixture is relocated in the system Yes / No 1 pt
  9. End caps are recorded in the system as a location for the items they hold Yes / No 1 pt
  10. Mixed totes in the back room carry a list of their contents Yes / No 1 pt
  11. The hold shelf for customer orders is labeled Yes / No 1 pt
  12. The damaged and return-to-vendor area is labeled Yes / No 1 pt
  13. Back room location audits are done at the frequency set by company policy Yes / No 1 pt
  14. Date of the last back room location audit Date
  15. Five empty back room locations checked show no stock in the system Yes / No 1 pt
  16. Merchandise in outside trailers or offsite storage is included in the count schedule Yes / No 1 pt
  17. The contents of the locked cage match its inventory list Yes / No 1 pt
  18. Location accuracy in this audit's sample Rating
    • Every item where the system shows 5 pts
    • 1 or 2 items misplaced 3 pts
    • 3 or more items misplaced 1 pt

6. Records 14 items

  1. Handheld count history is kept for the period set by company policy Yes / No 1 pt
  2. Adjustment reports are on file for the period set by company policy Yes / No 1 pt
  3. Results of the last full physical inventory are available at the store Yes / No 1 pt
  4. Date of the last full physical inventory Date
  5. Shrink rate at the last full physical inventory (% of sales) Number
  6. The store's shrink goal for the year is posted for employees Yes / No 1 pt
  7. The count accuracy rate is recorded every week Yes / No 1 pt
  8. Count accuracy rate for the past week (%) Number
  9. The district manager's last visit report covers cycle count results Yes / No 1 pt
  10. The list of system users with adjustment rights was reviewed in the past quarter Yes / No 1 pt
  11. Corrective actions from the previous cycle count audit are complete Yes / No 1 pt
  12. Name of the store's inventory lead Short text
  13. Overall inventory accuracy control Rating
    • Counts on schedule, variances recounted and explained 5 pts
    • Counts done, variances adjusted with little follow-up 3 pts
    • Counts missed or adjustments posted without control 1 pt
  14. Comments and corrective actions Comments

About this template

This checklist is part of the Bindy template library. Yes / No checks score 1 point when met; ratings score the points shown for each option. The overall score is the percentage of points earned, with N/A answers excluded. In Bindy you can add photos, assign corrective actions, require sign-off and compare results across sites.

Categories

Related templates

← All templates

Brand standards

At every site, every time

Start Free Contact us