Inventory Adjustment and Transfer from Cycle Count

Inventory Adjustment from Cycle Count

One key use of performing cycle counts with the i360 Pro RFID system is to compare the physical inventory in a store with the inventory balance reported in the system, known as the Inventory Balance Report (IBR). Discrepancies can arise due to shrinkage or other unaccounted reasons, making it essential to align physical counts with system records.

How It Works

1. Cycle Counts and Scanned Value
   • When a cycle count is performed, the i360 Pro app uses RFID to scan the inventory in the location.
   • The Scanned Value represents the quantity of inventory detected by the app.
   • The Expected Value comes from the Inventory Balance Report (IBR), showing what the system expects to be in the location.
2. Handling Discrepancies
   • If there’s a difference between the scanned and expected values, merchants can manually adjust the count.
   • If no manual adjustment is made, the Scanned Value is used by default.
3. Initiating Inventory Adjustment
   • From the Cycle Counts page, users can initiate adjustments by clicking on Initiate Adjustment.
   • The system will create an inventory adjustment based on the available data:
     • If a manual adjustment has been made, the Manually Adjusted Quantity is used.
     • If no manual adjustment is present, the Scanned Quantity is taken into account.
4. Viewing and Committing Adjustments
   
    
   • After initiating an adjustment, users can click View Adjustment to review the transaction.
   • This action redirects them to the transaction page, where they can either:
     • Commit the adjustment to finalize the changes.
     • Error the transaction if corrections are needed.

Why This is Important ?

• Accurate Inventory Records: Align physical inventory with system data to minimize errors.
• Simplified Adjustment Process: Quickly create and review adjustments directly from the cycle counts page.

Inventory Transfer from Cycle Count

Within the Daily Count Details screen, users can now complete inventory variance transfers directly from the count view.

When selected, the system redirects to the standard Initiate Transfer Screen from where the user can complete the variance transfer to the appropriate destination location. Once transfer is successfully completed and the count is closed, a view transfer button becomes available which will redirect to the transfer summary page for review on selection.

• From the Cycle Counts page, users can initiate transfer by clicking on Transfer Variance.

• The system will create an inventory transfer based on the available data.

  

• Clicking on Transfer Variance will prompt the user to choose the details such as Transfer Type (Store - Store, Store - Warehouse), Venue, Source (by default, will show the source selected), Destination to initiate transfer.

  

• Clicking on Continue will redirect to the Initiate Transfer page from where user can initiate and process the transfer.

• Once initiated and committed, user can view the transfer details from cycle count by clicking on View Transfer which on clicking will redirect the user to Inventory Transfer Summary page.

Mandatory Reason Code Selection for Inventory Operations in Cycle Count

To improve audit accuracy, the reason code field is required when initiating an adjustment and transfer (mandatory).

 

Articles in this section

• Item Import Field Descriptions
• Overview
• Merchant Onboarding
• Navigation Bar
• Reports
• Items
• Settings
• Dashboard Overview
• Company
• Register

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