Oracle Fusion SCM Year End


Oracle Fusion SCM Year End

Oracle Fusion SCM (Supply Chain Management) doesn’t have a specific “year-end” procedure like you might find in financial or payroll systems, because the operations of supply chain are continuous and are not typically closed at the end of a fiscal year. However, there are some best practices that you can follow at the end of the year to ensure a smooth transition into the next year:

  1. Inventory Review and Clean-Up: Check for any discrepancies in inventory levels and resolve any issues. Ensure that all inventory transactions have been correctly recorded and reconciled. Conduct physical stock counts if necessary.

  2. Check for Open Transactions: Review all open transactions (such as purchase orders, sales orders, and transfer orders) to ensure they have been properly closed out or are carried forward into the new year as necessary.

  3. Review and Update Supplier and Customer Information: Verify that all supplier and customer information is up-to-date, including contact information, terms, and other relevant data.

  4. Perform Routine System Maintenance: Check for any software updates or patches from Oracle and ensure they are applied in a timely manner. This can help keep your system running smoothly and protect against potential security vulnerabilities.

  5. Data Back-Up: At year-end, it’s good practice to back up your system data. In case of any mishaps, this will help to restore the system to the latest state.

  6. Compliance: Ensure that any changes in regulations or compliance requirements that might impact your supply chain operations have been addressed in your Oracle Fusion SCM system.

  7. Forecasting and Planning: Use the end of the year as an opportunity to update your forecasting and planning models. Incorporate the past year’s data and any changes in market conditions or business operations to make sure your forecasts are as accurate as possible for the coming year.

  8. Training: Ensure that all users are fully trained on any new features or processes that have been implemented in the past year. This is also a good time to refresh training on existing processes.

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