Stock adjustments are an essential part of inventory management that can significantly impact 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, including 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 businesses can 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, remove, 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 record 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 details of your variance needs.
How to Perform a Stock Change Using the Quick Change Method
The quick stock change function is exactly what it sounds like great tool to enter a few stock adjustments on the fly. This entry method updates the stock for a single item at a specified sublocation. This is not a bulk-entry method.
https://www.youtube.com/watch?v=8lT1XAvkOBQ
How to Perform a Stock Change Using the 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.
https://www.youtube.com/watch?v=wi4VCpVpExU
How to Perform a Stock Change Using the 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.
https://www.youtube.com/watch?v=UjbE_xu_t9c
For questions, feedback, or article ideas, email service@finaleinventory.com.