What is a common term for a system that requires physical counting and management of items in stock?

The term "Physical Inventory" refers to the process of taking a tangible count of items in stock, which is essential for maintaining accurate records of what is available for sale or distribution. This method involves physically counting each item, often in conjunction with reconciling records to ensure accuracy in stock levels.

Physical inventory provides a snapshot of inventory levels at a specific point in time and is critical for businesses in order to ensure that they do not overstock or run out of essential items. It's typically conducted periodically, such as annually or biannually, and can be contrasted with "digital inventory," which refers to inventory management systems that track stock levels electronically, often in real-time.

While "Stock Ledger" and "Inventory Tracking" might seem relevant, they address different aspects of inventory management. A stock ledger is a record of transactions affecting inventory, documenting purchases, sales, and returns, but does not inherently involve a physical count. Inventory tracking can describe the ongoing management of inventory levels, typically through digital means, rather than the manual counting involved in a physical inventory. Hence, the term that most accurately describes the requirement for physically counting and managing stock items is indeed "Physical Inventory."