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yes it is......................
Agree with Mr.: Sathish Prabhu.V
Yes. Statistical Inventory sampling can be an alternative for full physical count or even a cycle count. There are so many misconceptions that statistical Inventory sampling is just a short cut and it may result in failure of stock taking efforts.
In my point, statistical inventory sampling shall be a shortcut but not a negative shortcut which results in failure but a positive shortcut like keyboard shortcuts which usually more effective.
We can use statistical Inventory sampling as a method to confirm Inventory accuracy, whereas few companies are substituting it for annual physical count which is quite expensive.
My conclusion is Statistical Inventory Sampling shall be positive substitute to physical count provided, your warehouse function is more systematic and if it so I can guarantee a accuracy level equal to full physical count if not more.
