Stock adjustments are an essential part of inventory management that can have a significant impact on a company's profitability, customer satisfaction, and overall success. Stock adjustments refer to the process of updating inventory records to reflect changes in stock levels, which can include additions, subtractions or corrections.
In Finale, a stock adjustment is referenced as a stock change. This feature adds or removes inventory, providing the variance value in the stock transaction.
Stock changes are crucial for keeping inventory records accurate, preventing theft and fraud, and ensuring that businesses are able to meet customer demand while minimizing carrying costs. By making stock changes a regular part of their inventory management process, businesses can improve their bottom line, increase customer satisfaction, and position themselves for long-term success.
The stock change function allows the user to add stock, remove stock, or break apart case stock at a specified sublocation. This is not an inventory count. This is a stock adjustment, adding or removing inventory units from the existing quantity. The user is providing the variance in this stock transaction.
Unlike the stock take feature where the user assigns a stock value, allowing Finale to record the variance, the stock change feature prompts the user to recored the variance in this stock transaction.
There are three options available to perform a stock change outside of the barcode scanner solution:
- Quick Stock Change
- Import Batch Stock Change
- Create Batch Stock Change
One important note as you plan your workflow: these stock change methods allow you to enter a reason code to classify the stock change (for example: damaged, expired, etc). The barcode scanner solution, however, doesn’t allow the user this level of classification. This could be a huge point of focus as you organize your approach to accommodate the detail of your variance needs.
How-to Perform Stock Change Using Quick Change Method
The quick stock change function is exactly what is sounds like, a great tool to enter a few stock adjustments on the fly. This entry method is used to update stock for one item at one specified sublocation. This is not a bulk-entry method.
How-to Perform Stock Change Using Batch Spreadsheet Import Method
The import batch stock change method is the most used bulk-entry method, allowing the user to use a spreadsheet to import their stock adjustments.
This option allows you to make stock adjustments for items at multiple sublocations at one time by using a sublocation column in the spreadsheet import. Finale will still record a separate stock change for each sublocation, but this import option allows the user to submit these different stock adjustments in one import.
How-to Perform Stock Change Using Batch Manual Entry Method
If you prefer to enter a bulk stock change into Finale versus using a spreadsheet, then this is your option. This option, however, does limit the user to only being able to submit a stock change (adjustment) for one sublocation at a time.
This option is mostly used when a user has a few adjustments to make at the same sublocation. It is important to note that you can’t add or remove inventory in this screen without there being an existing on-hand inventory quantity at this sublocation for the desired products.
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