Stock Audit

Stock Audit

What is a Stock Audit?

Stock audit is generally a semi annual or annual activity. The audit is conducted to reconcile the actual physical inventory at the warehouse with inventory shown in WMS.

Stock Audit directly impacts the business as the complete inventory is put on hold & no inward or outward is done during the audit. Hence, it requires the client's approval.  

Prerequisite

• Stock Audit Plan

The Warehouse team needs to create a stock audit plan, how the audit will be carried out.  It might contain the number of people, the start time and end time for the audit etc.

•  Stock Audit Approval

A formal finance team/ business team approval is also required to be uploaded in the WMS 

Approval Workflow 

An approval flow needs to be set up in WMS before creating any stock audit. This is a one time activity.

1. Go to settings - Approval Configuration 

2. Click on Create Approval Workflow

3. Select a module - Stock Audit 

4. Select approval levels - it will decide how many levels of approvals are required to initiate the audit process

5. Fill in description (optional)

6. Click on ‘create’

 Initiating a Stock Audit 

1. Under left menu bottom Option, click on Inventory reco 

2. Click on stock audit 

3. A screen will appear with warehouse already selected, enter the tentative start time and end time for the audit

4. Upload the Stock Audit plan and clients approval doc (both the documents are mandatory) and click on create

5. The user can either update the audit if any of the details/ documents need to be updated, else click on submit for approval. 

6. Once the stock audit is approved, the status gets updated, click on blue arrow to start the stock audit ( as shown in the screenshot)

Note: All put aways must be closed before starting the stock audit

7. Click on the eye button to view details, system would auto create cycle count for all the bins 

8. Update Assignee for each bin

9. On the view details page – click on the eye button to continue

10. Scan the bin for which the cycle count is to be done

11. Scan the items present in the bin

12. Complete the cycle counts for all the bins

13. Once all the bins are counted for stock, go to stock audit and mark the audit as complete with the tick mark symbol 

14. The system will generate the bin wise and SKU wise variance reports