Stock Taking Training

Presenter: Suryanarayana Murthy Teegela

Overview of Process
The Physical Inventory process is used to reconcile the system on hand quantity
of various items in different inventory organizations and sub-inventories with the
actual available physical quantity. In case of any discrepancy, the authorized
person approves the difference between the system balance and the physical
balance.

Defining a physical inventory:

You can define and maintain an unlimited number of physical inventories in
Oracle Inventory. A physical inventory is identified by a unique name you
assign. You use this name to identify any activity, such as adjustments, pertaining
to this physical inventory.

You can define multiple physical inventories to count selected portions of your
inventory, or you can count your total inventory
Navigation: Inventory> Counting> Physical Inventory> Physical Inventories
Select your inventory Organisation from the list of values
Choose unique name for each of your physical inventories and define tolerances
accepted for differences in physical quantity V/S System Quantity and click
“Snapshot” (Freezing system quantity)
Once Physical inventory is defined and snapshot is completed generate tags to
capture available physical quantities in the inventory organizations.
Enter available physical quantities of each item against each tag provided for each item
and save your work.
The person who is responsible for approving the stock quantities, will query and
observe the physical quantities against system quantity and submits his/her approvals or
rejections for differed quantity items.
Once approvals or rejections has done, adjustments will be launched to complete the
process of stock taking and update the system quantity as physical quantity, and
differences will be posted to selected GL account.
Q&
A