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Emmanuel Ogboe

Hello All,

I have an issue with my inventory. I had to enter a backlogs of Invoices and purchases and now my products are giving me the following information:

60units Purchased    55units on hand  55units forcasted

25units purchased    14units on hand   -9units forcasted

What do these means and how do I rectify my Inventory. if I may ask what is the function of forcased Inventory. I need help please

Thanks.

Emmanuel


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Cybrosys Techno Solutions Pvt.Ltd
Best Answer

Hi,

  • 60 units Purchased, 55 units on hand, and 55 units forecasted: This means that you have purchased 60 units of a product, and there are currently 55 units in your inventory. The forecasted quantity of 55 units indicates that you are expecting to have 55 units of the product in your inventory at a future date, based on past sales trends and current sales orders.
  • 25 units purchased, 14 units on hand, and -9 units forecasted: This means that you have purchased 25 units of a product, and there are currently 14 units in your inventory. The negative forecasted quantity of -9 units indicates that you are expecting to have 9 fewer units of the product in your inventory at a future date, based on past sales trends and current sales orders.

To rectify your inventory, you will need to identify the cause of the discrepancy and take the appropriate action. Here are a few steps you could try:

  1. Review your purchases and invoices to ensure that the quantities were entered correctly.
  2. Check your sales orders and shipping documents to see if any of the products were sold or shipped.
  3. Check for any errors in the system that might have caused the quantities to be incorrect.
  4. If you are unable to identify the cause of the discrepancy, you may need to do a physical count of your inventory to determine the correct quantities.

Regards

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