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Inventory Duration vs Inventory Period
Inventory Duration vs Inventory Period

Inventory Duration is the time to complete an inventory count, and the Inventory Period is the time between two completed counts

Nick Neale avatar
Written by Nick Neale
Updated over a week ago

Article Contents

Introduction

The Inventory duration is how long it takes you to complete an inventory count.

The Inventory period is the time between two completed inventory counts.

Inventory Duration

When you take an inventory count, WISK logs the time it was started and the time it was submitted. This is the inventory duration.

The inventory duration should never span over a period where sales occur in your venue. The inventory count is a snapshot of the stock levels at the time the inventory count started. If items are being sold while taking inventory, you won’t have accurate data.

In most cases, the inventory duration should only be a few hours (depending on the size of your venue).

The Inventories page showing the Start and End Time of an inventory.

Note: If an inventory is open for longer than 24 hours you'll receive an email alert at the 24, 48, and 72 hour mark.

You will also see a message in the app if an inventory count has been open longer than 48 hours.

The message that displays in the app if the inventory started more than 48 hours ago.

Inventory Period

The inventory period (also known as inventory range) is the time between two completed inventory counts.

It’s used by WISK to calculate your consumption, sales, and variance.

For example, let's say you complete a count on January 1st from 8:00am to 10:00am, and then complete another count on Jan 8th from 8:00am to 9:30am

Those two counts now create an inventory period from Jan 1, 8:00am to Jan 8, 8:00am. The starting time of each inventory is the cut-off point.

Anything that happens in your venue between those two dates/ times applies to that inventory period.

Important: Don’t put an Inventory Period as the start and end times of an inventory count. The system will think that the physical count took that long and will impact your data calculations.

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