Software for inventory sampling
Certified inventory sampling
In many companies, inventory sampling has become a time and cost-efficient alternative to the legally prescribed annual counting procedure. The Ehrhardt + Partner Group (EPG) has been offering the appropriate module for this within the LFS Software Suite for years. Now the LFS inventory sampling system has been certified by the Institute of Public Auditors in Germany (IDW). This now officially confirms that LFS works with the correct mathematical procedures, determines the correct samples and consistently delivers valid results. The PS 880 certificate is an important prerequisite for the approval of inventory sampling for many companies.
For the inventory sampling, LFS uses the so-called "storage phenomenon" - known as the Pareto effect. This states that 20 percent of the stored goods make up 80 percent of the total stock value. This means that a small number of high-quality items in the warehouse are assumed to be the basis for the total stock value. LFS divides the remaining goods into homogeneous layers, from which the inventory module randomly selects samples.
LFS uses the difference estimation method to carry out inventory sampling. This means that the total value of the warehouse can be deduced from the storage bin-related sample - the counting effort is significantly minimized. In order to achieve valid results, the stock level must be at least 1,000 bins. In addition, the goods values of the individual items - the so-called book values - must be known. cs
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