Final answer:
Store initiated cycle counts are performed in the retail industry to maintain accurate inventory levels. The frequency of store initiated cycle counts can vary depending on factors such as store size and product turnover rate.
Step-by-step explanation:
Store initiated cycle counts are performed in the retail industry to maintain accurate inventory levels. They are typically done on a regular basis to ensure that stock levels are in line with sales and demand. The frequency of store initiated cycle counts can vary depending on factors such as the size of the store, the product turnover rate, and the accuracy of the existing inventory data.
For example, a larger store with high product turnover may conduct cycle counts more frequently, such as on a weekly or monthly basis. On the other hand, smaller stores with lower product turnover rates may perform cycle counts less frequently, such as on a quarterly or biannual basis.
The goal of store initiated cycle counts is to identify and address discrepancies between the physical inventory and the recorded inventory, allowing the store to make necessary adjustments and maintain accurate stock levels.