The Vested Group’s solution gives you the ability to review and approve the inventory adjustment request prior to making an impact on your inventory levels. This gives you the added control to ensure that the quantities being adjusted in or out are correct prior to creating the actual inventory adjustment.
Deleting an inventory adjustment in NetSuite to fix one or two lines can be very time-consuming. When using our solution, you will have the ability to catch issues with inventory adjustments prior to the transaction being created which gives you more control and accurate inventory levels.
Inventory adjustment requests are a step before the actual inventory adjustment
Items and quantities can be updated prior to approval for discrepancies found in original counts.
Ability to utilize the CSV import functionality to create the inventory adjustment requests that remove the need for manual entry.
Take a look at our video for a brief overview of the Inventory Adjustment Approvals custom NetSuite solution.
NetSuite simplifies inventory approvals and rejections. A manager can approve or reject pending adjustments using the NetSuite WMS user interface. The item's subtab, found under the Inventory Count record, shows the Count Quantity, Adjust Quantity and details about the difference. Supervisors can also view details, such as the time and date of the adjustment and who performed it.
Organizations can also define which managers may approve inventory adjustments and limit the number of approvals by department and supervisor level. This feature ensures more control over inventory and greater accuracy.
Inventory adjustment refers to the process of changing the value or quantity of stock. A quantity adjustment corrects the difference between what's in the system and the actual stock. A value adjustment modifies the financial value of inventory. Reasons for such a modification include cost changes, damaged goods, stock count errors or processing of returned goods. To adjust inventory in NetSuite, you can use the following methods:
NetSuite uses the total amount to estimate the cost of a standard cost item. This ensures the amount equals quantity times rate.
Inventory Adjustment Approvals is one of many custom solutions developed by The Vested Group's team of NetSuite experts. You can learn more by visiting The Vested Group's Solutions page or by submitting your contact information below and a member of our team will be in touch with you shortly!
The Inventory Adjustment Approvals solution adds a required approval step before inventory adjustments are recorded. This means significant or discretionary adjustments go through a review process, ensuring only authorized changes are made to your inventory counts. This control helps prevent inventory discrepancies and improves accountability.
Uncontrolled inventory adjustments can lead to inaccurate counts and shrinkage. The Inventory Adjustment Approvals solution requires that adjustments be reviewed and approved by authorized personnel before they're recorded. This governance layer ensures inventory remains accurate and helps you identify and prevent unauthorized or incorrect adjustments.
The Inventory Adjustment Approvals solution allows you to define approval workflows based on adjustment type, dollar amount, location, or department. You can route small adjustments directly to inventory managers and require higher-level approvals for significant changes, creating a tiered approval system that balances control with operational efficiency.
By requiring approvals before inventory adjustments are recorded, the solution creates a built-in audit trail showing who made adjustments, when they were made, why they were adjusted, and who approved them. This documentation is essential for compliance, internal audits, and investigating inventory discrepancies.
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