Inventory adjustment refers to the process of making changes to the recorded quantities of items or products in a company's inventory. These adjustments are made to ensure that the inventory records accurately reflect the actual physical count of items on hand
Inventory Control: Inventory adjustments help businesses identify and address issues such as shrinkage (loss due to theft, damage, or obsolescence) and discrepancies between recorded and actual inventory levels. This control over inventory can lead to better decision-making in terms of purchasing, pricing, and production planning.
Financial Decision-Making: Accurate inventory data is vital for making informed decisions related to ordering, pricing, and overall inventory management. It ensures that businesses have the right amount of inventory on hand to meet customer demand without tying up unnecessary capital.
Auditing and Accountability: Accurate inventory records are essential for internal and external audits. Auditors rely on these records to verify the financial position of a company and the accuracy of its financial statements.
There will be a list of In-progress list after you access the Inventory Adjustment sub-menu. In this list, you can see all the inventory adjustments in the current source that is in progress, and you can also see some important information related to the adjustment such as the created date of the adjustment, the person who created the adjustment or the total SKU which is adjusted in the adjustment,…
In addition, you can click on View button to see the adjustment details.
To create a new inventory adjustment, you can click on the New Inventory Adjustment button. After that, you will be redirected to the Adjustment details, and it will be empty like the below picture.
There are 3 ways to add products to the Adjustment details:
Click on the Add Product button to add selected products
Scan the product barcode
Import the CSV file
In the Inventory Adjustment details, you can click on the Add Product button to redirect to the Add product to Inventory Adjustment page
On this page, you must select the products that you want to adjust, then you need to click on the Add Selected Products button to add products to the details page successfully.
To add the product to the details page, you can use the scanner to scan the product barcode
If you already have a plan or you have multiple products to add, you can use the importing function to add products to the details faster. After clicking on the Import button, a popup like the below picture will show.
After the popup shows, you only need to upload the CSV file that has the structure column like the below picture to continue the importing.
To record the adjustment, you can fill in the Adjust Qty or New Qty field the exact qty of the product in reality.
When you want to do other functions of RMS, but you already edited the details page such as filling in the Adjust Qty or New Qty field, you can use the Save function. After clicking on the Save button, the data in the Adjustment details will be saved, and you can move to another page and do the adjusting for that adjustment later.
In addition, if you forget to save the data before moving to another page, there will be a Back Confirmation after clicking the Back arrow in order to alert you that you should save the data to avoid losing it.
If you do not have enough devices for the staff to take action on RMS, you can print the Adjustment details into the PDF for the staff to take the next action on the Adjustment such as filling in the Adjust Qty or New Qty for each product. In addition, you can also print the PDF of the Adjustment details with Pending or Completed status to record it in your business’s documents.
1.8. How to Cancel the Inventory Adjustment?
When you do not want to do the adjusting anymore or the current adjustment has some problem, you can use the Cancel function. After clicking on the Cancel button, the Cancel Confirmation popup will show to alert you like the below picture.
After canceling the Adjustment successfully, the status will change to Cancelled, the Adjustment can not be edited anymore, and you can only use the Export CSV function
After you complete the adjusting for the products that are available on the details page, you can click on the Adjust button to mark as completed for the adjustment. After clicking on the Adjust button, there will be a popup like the below picture.
After adjusting the products successfully, the status will change to Completed, the Adjustment details can not be edited anymore, and you can only use Print PDF and Export CSV functions.
In this list, you can focus on managing the Adjustment that is cancelled or completed, it will help you to track the completed or cancelled adjustment easier if you need to review that adjustment.
In addition, separated lists like this will help you to focus more on adjusting the Adjustments that are pending without filtering to find them.