Long Term Solution
RFID all of the important stuff in your facilities (which is perhaps MORE than just your ''critical'' items), while turning the fast-turning, low-criticality issues into Free-Issue VMI items.
Let your vendors manage your VMI accounts.
On your RFID-tagged items, tie them to a SKU in your ERP, and just have your system queue your buyer when it needs to be bought.
On cycle counting, when you remove all of your fast-turn, low-criticality items, your cycle counting demand will plummet. Who cares how many .05C gloves you have going to whom? I'd much rather know you have the $30,000 fire system pump.
Otherwise; stick to the 750 rule;
750 SKUs and $750,000 per headcount.