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Inventory & Physical Inventory

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janipasha
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78 views16 pages

Inventory & Physical Inventory

Uploaded by

janipasha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Inventory & Physical Inventory

Content

Objectives Key Concept Examples


Objectives
• Physical inventory is a
process where a business
physically counts its
entire inventory. A physical
inventory may be mandated
by financial accounting rules
or the tax regulations to place
an accurate value on the
inventory, or the business may
need to count inventory so
component parts or raw
materials can be restocked.
Key Concept

• Physical inventory is the process to count the actual


shop floor quantity and compare with book entry
quantity.
• Result of this process may lead to positive or
negative stock update in book entry, if any
inconsistency is there. These stock updates
obviously impact on financial entry also as well.
• Physical Inventory Process can be carried out
using two ways :-
1. PRODUCT SPECIFIC PROCESS:-
This means wherever the product lies, it is
applicable for physical count.
2. STORAGE BIN SPECIFIC PROCESS:-
This means whatever the product in the
storage bins; it is applicable for physical count.
• HL- Ad-hoc physical inventory. (storage bin specific)
• HS- Ad-hoc physical inventory. (Product specific)
• AL- Annual physical inventory. (storage bin specific)

Types of • AS- Annual physical inventory. (Product specific)


• CC- Cycle counting physical inventory. (Product specific)
Physical • External procedure. (storage bin specific)

Inventory • External procedure. (Product specific)


• NL- Low stock physical inventory. (storage bin specific)
• PL- Putaway physical inventory. (storage bin specific)
• ML- Storage bin check.
Process Flow
•Create PI document – /SCWM/PI_CREATE
•Process PI document – /SCWM/PI_PROCESS
•Enter count results – /SCWM/PI_COUNT
•Post the differences – /SCWM/DIFF_ANALYZER
Examples
• Step 1- Create PI document: /SCWM/PI_CREATE

Click on set flag


Then Save.
PI document
Created.
Step 2- Process the PI document: /SCWM/PI_PROCESS

Enter PI doc No.->


Click on execute->
Select line item->
Click on count->
Enter counter &
date-> Click on
continue.

In item level enter the


count qty and the
document.
Material is counted and
then new document is
created.

Again, follow the same


process from PI document
process.
Difference the post- /SCWM/DIFF_ANALYZER
Initial Stock •T code- /SCWM/ISU
Upload
ISU file format
Storage Bin • T code- /SCWM/SBUP
Upload
Upload file format for storage bin

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