Inventory Record Accuracy
Inventory Management
Inventory Record Accuracy (IRA)
Inventory Record Accuracy
Formal measure of agreement between recorded and physically verified inventory.
Examples
- 01The monthly IRA is 98.5 %, based on 400 randomly counted locations where quantity, part and location all match.
- 02The warehouse review breaks IRA down by item class, with a stricter target of 99.5 % for A items.
- 03Raising IRA to target lets the plant replace its two-day annual stocktake with ongoing cycle counts.