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food and beverage industry glossary

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Inventory variance

Ideally, when you do a stock count, the number of stock items should be the same as the number registered in your inventory system. If these numbers don’t match, we call it inventory variance. 

Inventory variance is the difference between the theoretical inventory (the inventory of stock in the books) and the actual inventory (the inventory when you perform a count). Discrepancies can be explained by factors like employee theft, improper counting, or imprecise registration of stock items.

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