Inventory Transfer
Overview - Inventory Transfer
It involves moving goods from one location to another, typically from an area where ther is surplus of certain products to a location where there is shortage. You need to always make sure you have multiple location in the system.
Reasons for Inventory Transfer
- Redistribution: Businesses with multiple locations or warehouses may transfer inventory to balance stock levels, optimize storage space, or meet changing demand patterns.
- Consolidation:For efficiency and financial savings, inventory transfers may entail combining inventories from many sources into a single place.
- Fulfillment: Inventory transfers can be used to fulfill customer orders when the requested items are not available at the customer's location but are in stock elsewhere.
Basic Functions in Inventory Transfer
- View Inventory Transfer records
- Reverse Inventory Transfer
- Create New Inventory Transfer
- Print Inventory Transfer
Inventory Transfer Dashboard
| Field | Description |
|---|---|
| Transfer Date | The Transfer Date is the specific date on which the inventory transfer takes place.It is crucial to record this date accurately for accounting and auditing purposes. |
| Memo | It serves as a written record of the transfer and typically includes important information such as description of the items being transferred (including product names, quantities, and any unique identifiers),including the reason for the transfer |
| Transfer From | he source or origin location from which the inventory is being transferred. |
| Transfer To | represents the destination location or department where the inventory items are being moved |
| Trasnfer Effected | It indicates whether the transfer was successful or not |
| Action | You can edit, print or reverse Inventory transfer |