physical-counts

Vocabulary Word

Definition

"Physical-counts" is a term used when the number of items in an inventory is checked or evaluated manually. It refers to a process where you count items in a store or warehouse one-by-one, usually to verify stock numbers.

Examples in Different Contexts

In retail, physical counts are essential for ensuring that the inventory on the sales floor matches the inventory records. A retail manager might say, 'Our monthly physical counts ensure that our system's data accurately reflects what's available for customers.'

Practice Scenarios

Tech

Scenario:

The stock records for our hardware parts are unclear. We might need to double-check the actual quantities we have.

Response:

It sounds like a good idea, we can organize physical counts of hardware parts for better inventory management.

Accounting

Scenario:

There seems to be a mismatch between the counted inventory and recorded figures. Auditing the physical inventory may assist in closing the gaps.

Response:

Agree, an accurate physical count of the inventory will help firm up our financial records.