Adjust Stock

In the eTIMS system, business entities may need to adjust stock quantities directly to maintain accurate inventory levels due to various operational scenarios. These adjustments help ensure that the stock records reflect the true state of the inventory.

Below are the common reasons for stock adjustments and how they are managed in the eTIMS system via Slade360 eTIMS APIs:

Reasons for Stock Adjustments

1. Expired Goods

   When goods in inventory reach their expiration date and can no longer be sold, they must be removed from the system to prevent inaccuracies in stock levels and ensure compliance with regulatory standards.

   Importance

   A stock adjustment is performed to deduct the expired goods from the total stock count.
   This adjustment prevents the overreporting of available stock and ensures only sellable items remain in the system.

2. Damaged or Lost Goods

   In cases where goods are either damaged beyond use or lost during transit, storage, or handling, they must be accounted for in the system.

   Importance

   A stock adjustment is created to reflect the loss of these goods. This is crucial for maintaining an accurate view of available inventory and for auditing purposes.
   Failure to adjust for damaged or lost goods could lead to discrepancies in stock levels and financial misreporting.
3. Initial Stock Count(Inventory Audits)
   Periodic inventory counts are conducted to verify the accuracy of stock levels in comparison to the quantities recorded in the system. These counts are often scheduled to ensure that inventory levels align with what is available in the warehouse or storage facility.

   Importance

   During an audit, if discrepancies are found between the system's stock records and the actual physical count, adjustments are made to correct the quantities.
   This ensures that the inventory data remains up-to-date and reflective of real stock levels, which is critical for both operational efficiency and accurate financial reporting.

Reporting Adjustments

In eTIMS system, every stock adjustment made by a business entity must be reported to ensure compliance, traceability, and accuracy across the inventory management system.

This reporting process includes updating two critical endpoints in the system:

1. Stock I/O (Stock Input/Output)

   This endpoint tracks the movement of stock in and out of inventory. When a stock adjustment is processed, the movement of the adjusted quantity is recorded here, ensuring that any changes in stock levels are fully documented and traceable.

2. Stock Master

   The Stock Master is the central record of all inventory items and their current balances. Any changes made through stock adjustments must update this record to ensure that the master data reflects the new, adjusted stock levels.
   This is essential for accurate reporting and decision-making based on inventory data.

Adjustment Process Using Slade360 eTIMS APIs

In eTIMS system, adjustments are processed through Slade360 eTIMS APIs, a key interface for managing inventory and financial transactions.

When a business entity initiates and processes a stock adjustment, the following data is captured and transmitted to eTIMS system via Slade360 eTIMS APIs:

1. Adjusted Quantity
   The quantity of goods that have been adjusted whether removed due to expiry, loss, or a recount is recorded. This ensures that the change in stock is accurately reflected in both the Stock I/O and Stock Master endpoints.
2. New Stock Balance
   After the adjustment, the new stock balance is calculated and updated in the system. This new balance represents the current inventory levels after accounting for the adjustments.
   It is essential for ensuring that the business entity's inventory reports, sales forecasts, and procurement decisions are based on the most up-to-date information.

To explore detailed information, please visit the Stock page.

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Why Use Slade360 eTIMS APIs?

By ensuring that all adjustments are reported and processed correctly, eTIMS maintains a high level of inventory accuracy, compliance with tax and regulatory requirements, and smooth operational workflows for business entities managing stock