On a regular basis, be it for government regulation or internal control, the stocktake is an essential requirement. A single stocktake is known as a cycle and can be initiated at any time under certain conditions. The cycle is defined as the period of time from the stocktake opening to the stocktake close or cancellation. Multiple cycles can occur concurrently.

Stocktake is done at the physical warehouse level. However; any adjustments as a result of the stocktake will need to update not only the data in the physical warehouse locations but also the stock quantities at the different logical warehouses linked to the physical warehouse.

The procedure will capture and report any discrepancies in both quantity and value at the logical warehouse level. The value will need to be in the base currency of the company linked to the logical warehouse. [Read more…]

Stocktake processing