Authorize Adjustment – A Summary of the Activity

This activity enables you to select and authorize the details of the adjustment transaction. Stock correction is an ongoing process in inventory management usually carried out when there is difference between the system and physical stock quantities. The difference can be positive, negative or zero. When the physical stock is more than the system stock, the difference is positive. When the physical stock is less than the system stock, the difference is negative. When the difference is only in the value of the stock, it is zero quantity difference.

Stock correction is essential to maintain a high level of accuracy between the system and physical stock. The physical inventory (PI) and cycle count (CC) components make corrections to the stock through this activity when there is a difference between the system and actual physical stock available in the warehouse. Stock adjustment is always performed in terms of stock UOM. Adjustments cannot be made for non-stockable item types such as “Capital”, Model”, “Kit”, “Service” and “Reference Item”.

The “Select Adjustment Transaction” page allows you to search and select an adjustment transaction for authorization. The “Authorize Adjustment” page allows you to authorize or return the stock adjustment transaction. The “View Item Details” page allows you to view the details of items. The “View Lot Information” page allows you to view the lot related information. The “Update Serial Nos.” page allows you to update the serial number information for the adjustment transaction. The “Financial Information” page allows you to update the financial information for the stock adjustment. The “Adjust Specific Receipts” page allows you to update specific receipts for the adjustment value. The “Create Lot Information” page allows you to create information related to lots. The “View Warehouse Stock” page allows you to inquire the warehouse stock information. The “View Warehouse Information” page allows you to view information on the warehouse where the items are stored.

Getting familiar with the pages inside