Can we create custom fields on Inventory Count record? I was hoping we can allocate a responsible person (List/Record Employee) to a count record.

Yes, you can do that. I created a series of records on the IC record to capture this info for a large pet food manufacturer. We had first count , first count start, first count end through third count. We then had an offline approval policy in place to reject any first counts with a varience over XX% and would reject the count and send a second team. If the count matches it gets approved. If it does not match a third team with managers goes out for final look. We achieved 99.6% accuracy on full physical on 175k SQFT

@Joe St. Clair did you create the fields on the IC record (like Custom Transaction Body Fields) or as custom records with the IC as parent? ps, I like the approval flow idea.

Body Fields and then added them to the form. For our use case they would would print out the IC and want to be able to pencil wip it and scan to archive for audits.