A/an _____ is a process used to verify actual inventory on hand on a continuous basis throughout the year.

A cycle count is a process that involves regularly counting a portion of the inventory on hand to verify its accuracy in relation to the records maintained for that inventory. This method allows for continuous verification and helps ensure that inventory levels are correct throughout the year, as opposed to relying solely on an annual physical inventory count.

Cycle counting is a proactive approach to inventory management that enables businesses to identify discrepancies in real time, thus reducing the risk of stockouts or overstock situations. It often involves scheduled counts of different inventory items on a rotating basis, which enables issues to be addressed more promptly.

This process also aids in maintaining data integrity in inventory management systems, allowing companies to make informed purchasing and production decisions. By utilizing cycle counts, businesses can effectively monitor their inventory levels and ensure greater accuracy and efficiency in their operations.