How to fix inventory inaccuracies

Owned by Brendan Sweeney, created
Last updated: Mar 13, 2023
2 min read

If your inventory is inaccurate due to lost items, mismanagement, or some other reason, you’ll need to reconcile your ConnectSx inventory with what is truly there. The best way to do this is by performing a complete audit of your inventory. Many companies find it useful to perform an audit in batches (or “cycle counts”) to make it more manageable and complete a full audit of their inventory over a longer period of time.

  • Auditing field inventory presents a number of challenges, not the least of which is accuracy and investment of time. We’ve found that in cases of counting localized inventories, as well as auditing warehouse assets, barcode scanning can be very useful. Try utilizing our free UDIdentify app to scan all of your inventory, create a spreadsheet, and send that data to yourself via email. You can then use that data to reconcile what is in ConnectSx. You’ll want to make sure that you have at least the following data points in your audit results spreadsheet: catalog number, lot, quantity. 

  • Once you’ve performed your audit and you know what you physically have in your possession, you’ll need to compare with what is in your ConnectSx account. First access your inventory and Export inventory, then select “Unused Inventory Only”. This will generate a .csv for you of all of your active inventory. 

  • Next, you’ll want to copy your inventory data into a fresh tab in your audit results spreadsheet. In each tab (audit results and ConnectSx inventory), insert a column and concatenate your catalog number and lot number columns to create one identifying number for each catalog/lot combination – the formula should resemble something like this: =concatenate({catalog_number_column}, {lot_number_column}). This will allow us to perform a vlookup between the two tabs.  If you have UDI data, feel free to utilize the UDI instead of creating this concatenation. For more information on UDIs, check out this helpful link: https://www.fda.gov/medical-devices/unique-device-identification-system-udi-system/udi-basics

  • Next perform a vlookup to pull the quantities from your audit results tab over to your ConnectSx Inventory tab and clearly label the column as your audit results.

  • Now you can subtract these two quantities and see what changes in your inventory levels need to be made. 

How to adjust inventory:

In ConnectSx you have a couple of options for modifying your inventory quantities after an audit:

  1. Create an Event to decrement inventory. Choose Event Type: “Stock Adjustment” and give a description of why you’re removing this inventory. This will create a record of what was decremented and why.

  2. Deactivate your inventory in the inventory detail screen.

  3. Add new inventory via inventory import.

  4. Add new inventory manually.

It is key that you also update your inventory in your legacy systems if they are still in use (ex. an ERP or a financial reporting system such as Quickbooks) to ensure ConnectSx and your legacy systems stay in sync. For more information on integrating ConnectSx with your legacy systems, please reach out to us.

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