Adjusting Inventory Levels

Business Applications Inventory
1

How can I adjust inventory levels to match the actual on-hand quantities?

2

Hey Tom,

You have a couple of options but both require specific access. You may need to speak with an administrator to accomplish this.

First option - Item Balance Integrity Report

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3

We have several options available for adjusting inventory quantities!

If you know exactly which items and quantities you need to adjust, you can use the Inventory Adjustments application. This app will allow you to specify the item that you want to adjust, as well as the item’s org unit, inventory location, the reason for the adjustment (eg, found or damaged), and the quantity you want to adjust. This action will directly add or remove the quantity specified from the item’s balance.

  • You can find more information on this app in the “Inventory Adjustments” topic page in Nextworld Help

Another option is performing an inventory count. In the Inventory Counts application, you can specify the parameters that define how an inventory count will be run. This will generate a one-off count that can be completed and will update item balances to the quantities specified in the count for each item. Alternatively, you can use the Inventory Count Setup application to define a recurring series of counts that will be generated periodically (eg, monthly) and will update item balances as well once completed. In Inventory settings, if the Pick Short Count Generation setting is set, then once an order that is going through the fulfillment process is “picked short” then a count will be generated for that item/location as specified.

The count method will determine the process of the count. For example, a Count Method value of Physical will generate an inventory count for all items in a given warehouse or org unit - while a value of Manual will indicate that the inventory count must be manually requested. Once a manual inventory count is created, the user will have to specify the item(s) and/or location(s) to generate an inventory count on. After all of the count information is defined, it is ready to be processed and the item balances will be updated to the quantities specified by the counter. If creating a recurring count series in the Inventory Count Setup application, 2 more options are available for Count Method. The Warehouse option will periodically generate a count for an entire org unit, and the ABC Classification option will allow you to specify groups of items (as classified) as well as the count frequency for each group of items.

  • More information can be found on this process in the “Inventory Counts” and “Inventory Count Setup” topics in the Nextworld Help platform

The final option I’ll suggest is to create an Item Balance Integrity Report to automatically review quantities from inventory as well as source transactions for inventory movement. When an item balance integrity report is executed, inventory levels are frozen for the duration of the report execution to ensure inventory levels do not change while calculating accurate values from source transactions. You can run this report informationally or with the intent to update your item balances. If the Process Option field on the report version is set to Rebuild Quantities, then the item balances for out-of-sync items will be corrected to the expected values based on source transactions.

You can create an item balance integrity report by navigating to the Item Balance Integrity Versions application and creating a new record. This is where you can define the input parameters for the report and determine whether or not the report will update item balances using the Process Options field. Once all of the applicable parameters are defined, you can use the Process Item Balance Integrity form action to execute the report and you will be informed of the progress of the process through your notifications.

  • You can find more information on this application in the “Item Balance Integrity Report” topic on the Nextworld Help platform
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