The Daily Inventory Review helps users monitor and review daily inventory movements and stock levels. It provides a consolidated view of inventory activities to support accurate stock monitoring and control.
Inventory Review Process
1. Review Inventory Overview
Review the Inventory Overview to check current stock quantities across warehouses. Verify available stock and identify items that require attention.
2. Review Inventory Transfers
Review Inventory Transfers to monitor stock moved between warehouses. Verify the transferred items, quantities, source warehouse, destination warehouse, and transfer status.
3. Review Inventory Adjustments
Review Inventory Adjustments to identify manual changes made to inventory quantities. Verify adjustment details, affected items, quantities, and reasons for the adjustments.
4. Review Material Issues
Review material issues to monitor items issued from inventory for production or other activities. Verify the issued quantities against the relevant production or job order.
5. Review Material Receives
Review material receipts to confirm that materials received from production or other processes have been recorded correctly. Verify the received quantities and warehouse stock.
6. Verify Stock Accuracy
Compare inventory movements with the corresponding transactions to ensure that stock quantities are accurate. Identify any discrepancies between recorded transactions and current inventory balances.
Inventory Reports
The daily inventory review can be supported through:
- Inventory Overview – Provides a summary of current inventory.
- Inventory Transfers – Displays stock movements between warehouses.
- Inventory Adjustments – Displays inventory quantity adjustments.
- Material Issues – Production – Displays materials issued for production.
- Material Receives – Production – Displays materials received from production.