INVENTORY RECONCILIATION AND DISCREPANCY PROCESS

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[ ] Retrieve Master Inventory Records: Fetch the current stock levels and expected quantities from the Master Inventory Data Model.
[ ] Retrieve Physical Count Records: Fetch the latest records from the recent physical count/audit entry.
[ ] Calculate Variance: Calculate the difference between Expected Quantity and Physical Count Quantity (Expected - Physical).
[ ] Calculate Discrepancy Value: Multiply the Variance by the Unit Cost to determine the financial impact of the discrepancy.
[ ] Flag Discrepancy in Master Data: Update the status of the Master Inventory Record to 'Discrepancy Detected' if variance is non-zero.
[ ] Assign Investigation Task: Create a task for the Warehouse Manager to investigate the cause of the identified variance.
[ ] Investigation Checklist: A sub-process within the task to check for receiving errors, shipping errors, or theft/loss.
[ ] Create Discrepancy Report Entry: Create a new entry in the Discrepancy Log Data Model containing the variance details and investigation findings.
[ ] Sum Total Financial Loss: Aggregate the 'Discrepancy Value' from all entries in the Discrepancy Log for the current period.
[ ] Notify Finance Department: Send an email to the Finance team regarding significant financial discrepancies found during reconciliation.
[ ] Generate Monthly Reconciliation Summary: Create a summary report showing total items reconciled vs. total items with discrepancies.
[ ] Finalize Stock Adjustment: Update the Master Inventory record with the new corrected quantity based on the investigation outcome.

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