summarize this for me

Planning: Determine the frequency and scope of cycle counts based on factors such as item value, criticality, usage rate, and historical data.

Scheduling: Establish a regular schedule for conducting cycle counts to ensure that all items are counted within a specific timeframe.

Selection: Randomly select items or locations to be counted in each cycle count session using predetermined criteria or automated selection methods.

Preparation: Gather necessary tools such as barcode scanners, inventory lists, counting sheets, and any required documentation before starting the cycle count process.

Counting:

Physically count the selected items accurately.

Record the actual quantity found during counting.

Verification: Double$-$check accuracy by comparing recorded quantities with system records; investigate discrepancies if needed. Adjustment : Make adjustments in inventory levels based on verified results from physical counts. Reporting: Document findings including discrepancies identified $,$ root causes analysis $,$ corrective actions taken etc $.$ Analysis & Improvement : Analyze trends over time ; identify areas for improvement ; adjust procedures accordingly