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Inventory Adjustment

A process for adjusting and managing inventory based on data inputs and approvals.

Workflow template includes the following steps

Step 1 — Input Inventory Data

Enter the specific data such as part number, adjustment reason, lot, and unit of measurement.

Due Date

Output Field Conditions

Step 2 — First Approval Phase

The first approval phase to verify the data inputs and initial adjustment details.

Output Field

Step 3 — Second Approval Phase

The second approval phase for further verification and confirmation of the adjustments.

Due Date

Output Field Conditions

Step 4 — Third Approval Phase

The third and final approval phase to finalize and authorize the inventory adjustments.



Step 5 — Send Automatic Email

Send an automatic email with the adjustments that must be made by the applicant.

Output Field

This workflow template can be used as is or edited, added to and expanded upon. You can delete steps you don’t need or add steps specific to the operations of your company.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

The Purpose of Inventory Adjustment

Inventory adjustment is an essential process in the effective management of any business dealing with physical goods. It involves the correction of discrepancies between actual physical inventory and the recorded inventory data. This process is crucial for maintaining accurate inventory records, which in turn affects business operations, financial statements, and decision-making.

The process begins with specific data inputs such as part number, adjustment reason, lot, and unit of measurement. These data inputs enable a detailed and precise adjustment process. The reason for adjustment could range from damaged goods, theft, or data entry errors. Identifying the specific reason for adjustment is vital as it helps in pinpointing issues and implementing corrective measures.

The inventory adjustment process includes three approval phases. This is to ensure accuracy and accountability in the adjustment process. The approvals may be from different departments or levels of management depending on the company’s structure and policies. These approval phases help in mitigating risks of errors or fraud.

Lastly, the process includes the option of sending an automatic email with the adjustments that need to be made. This feature enhances communication and ensures that the relevant parties are informed in a timely manner. It also provides a record of the adjustments made for future reference.

Overall, the inventory adjustment process is an integral part of inventory management. It promotes accuracy, accountability, and effective communication, thereby enhancing operational efficiency and decision-making.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

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You can further customize the generated workflow template by inviting team members and assigning tasks to them, setting deadlines for each workflow and task, and adding conditions and variables to direct the flow of execution and information through each workflow.

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