REAL-TIME INVENTORY TRACKING WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Fetch Current Stock Levels: Retrieve all active entries from the Inventory Data Model to check current quantities.
[ ] Fetch Reorder Thresholds: Retrieve the minimum stock level settings for each SKU to identify items needing replenishment.
[ ] Calculate Stock Variance: Subtract Current Stock Level from Reorder Threshold to determine the deficit amount.
[ ] Calculate Total Inventory Value: Sum the (Unit Price * Quantity) for all entries in the inventory data model.
[ ] Update Stock Status: Update the 'Status' field of an item to 'Low Stock' or 'Out of Stock' based on calculated variance.
[ ] Create Purchase Order Entry: Generate a new entry in the Purchase Order data model when stock falls below threshold.
[ ] Assign Procurement Task: Create a task for the Purchasing Manager to review and approve the new Purchase Order.
[ ] Notify Warehouse Manager: Send an email alert to the Warehouse Manager when a stock discrepancy is detected.
[ ] Urgent Stock Alert: Send an SMS to the Operations Head if a critical 'Zero Stock' event occurs for a high-priority SKU.
[ ] Update Incoming Shipment Date: Update the 'Expected Delivery' field in the Purchase Order entry once the vendor confirms.
[ ] Create Goods Received Note: Create a new entry in the Receiving Log when physical stock arrives at the warehouse.
[ ] Increment Stock Quantity: Update the 'Quantity on Hand' in the Inventory Data Model following a successful receipt.
[ ] Remove Damaged Items: Delete or flag entries for removal from active inventory if they are marked as 'Unusable' during inspection.
[ ] Generate Daily Inventory Summary: Create a daily PDF report summarizing total stock value, low stock alerts, and recent arrivals.
[ ] Calculate Inventory Turnover Ratio: Execute formula to calculate the turnover ratio based on Cost of Goods Sold and Average Inventory.

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