Inventory Adjustments in Odoo

In Odoo, basic warehouse operations are important for retailed organizations, but of course some other aspects of inventory management are key as well.

Now let us look at the inventory adjustments which are the defined increases and decreases of an inventory process. This helps us to adjust our inventory that takes everything into account which could happen such as theft, loss and errors. In other words, it serves to match the inventory with actual on-hand quantities. Since every retail organization sells different products that can present flaws or wear accessories which could disappear for one reason or the other, it will look at our database to see how I can make adjustments to stay on top of my stock. So let us check on how it works.

Now we can verify our inventory adjustments in several ways but one of the easiest methods is to make a manual stock adjustment on the product itself.

To move on, go to the Inventory module, click the Products sub-module at the Products menu, then you will see the list of all the products. After selecting the intended product, you will see a button at the top-left hand side of the screen called “Update Quantity” to update the quantity.

Then, you will be redirected to a page to update the quantity and click on the Create button on the top. Then you will be able to add some items on hand. Here, we can use the multi location option which can be configured in the Configuration Settings, and that location will be given.

Now, I can say that I have 20 quantities of that product on hand, so let us go ahead and Save this. Here, the change update will get registered if I go to the intended product again and click on the Traceability or Stock Moves smart button which is on the top. You will be able to see exactly what is going on with my stock for this item.

Hence, the latest updated stock will be given below, as shown in the screenshot. This is done manually because the referenced product is updated. Now, if the quantity is changed for another reason such as a purchase or a delivery order, we are able to see that from the reference as well, and also where it is coming from and going to. So you can keep an eye on what is happening with my products.

Apart from this, you are also able to see a list of all the products regarding the stock moves in group by view, by going to the Reporting and clicking on the Product Moves sub-menu.

Here, you will get the whole list of stock moves of all the products. So this is a good idea to keep an eye on what is happening.

Let us now check out another way that we can do the inventory adjustment  To do so, we will go to the Operations menu and click on the Inventory Adjustments. You will see a list of all the Inventory Adjustments created. Then click on the “Create” button.

Rename the Inventory Reference field, and since we use a multi location feature, we are able to choose the locations. You need to choose the Company, which is a mandatory field. Set the counted quantities where you set it as default to stock in hand rather than the default be zero and click on the Save button. Then go ahead, and click on the Start Inventory button, which is at the top left corner of your screen.

You will then see a list of all your products, so you will be able to see what’s on hand, what’s counted, and if there are any differences. So when I choose a product and change the count, which you actually have on hand.

The particular product in row will be given as red, because it shows a negative difference since it is expecting you to provide the number that the system has on hand, but sometimes what we have on the system is not exactly what we have in reality. Hence, we can modify it here, and then we can validate our inventory by clicking on the Validate Inventory button which is at the top-left corner of the screen.

We can now keep a track of all the product moves by clicking on the Product Moves smart button, at the top-right hand side of the screen. Then you will see that the only one that we have changed is given, as shown in the screenshot below and everything else had the correct quantity or atleast the quantity that the system expected.

You are also able to keep track of this by clicking on the Reporting menu, which is on the top and go to the Product Moves sub-menu.

Here, we then check out the intended product which we created as annual inventory adjustment. So, we keep a track of everything that is going on.

To implement this hassle free ERP solution for efficient inventory management in Odoo, connect with us for a better insight.