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PHYSICAL INVENTORY

As you know, coworkers are responsible for ensuring that the physical inventory pieces in their
stores match what the computer system says should be in the store. Your ability to properly
perform the steps required to complete an inventory audit is crucial to your store’s success.

A physical inventory by item number should be completed at minimum once per week, noting
and resolving any discrepancies. At least one physical count with serial number validation must be
conducted by the store manager per month.

During this activity, you and your learning coach will perform the following actions:

• Complete an inventory audit.
• Properly tag merchandise.
• Validate the security, proper product care, and refurbishment of all items in the audit.
• Print your Idle Inventory, Units Being Serviced and Loaners reports.
• Reconcile any exceptions that occurred by immediately correcting any concerns or issues.
• Reconcile your inventory against your Service and Loaners report.

After you have completed the audit, take a moment to answer the following questions:

• Why is it important to conduct an inventory audit twice a week?
• Why is proper tagging important to an inventory audit?
• How many exceptions did the initial report have on it?
• Why is reconciling service and loaners important?

During your audit, did you notice any products that might need further refurbishment? Write those
down here:

Notes:

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