ICM Canceled & Replacement SKU Check

In Progress 

This report shows Inventory Change Management (ICM) SKU pairings in which both the canceled and replacement SKUs have quantity on hand, and the canceled SKU is not selling as expected. Ideally, the canceled SKU would have sold out by now. Therefore, there is a likelihood the canceled SKU is phantom inventory (not in the store) or otherwise not in sellable condition.

Note: Because both the canceled and the replacement SKUs can look similar, items should be scanned to ensure you are accounting for the correct SKU.

Steps to process this report

  1. Carefully count the canceled and replacement SKUs and enter their respective counts into PIP.
  2. If you cannot find the canceled SKU, ensure its hook/tag/bin is removed from the sales floor, and the location code is updated. 
  3. If the canceled SKU is found, then you have options: 
    • Do nothing and wait for the canceled item to sell out.
    • If the item/package is damaged, consider treating it as defective and removing it from inventory.
    • If the retail price is the same or lower than the replacement SKU, consider merchandising it with the replacement SKUs and rotating the canceled items forward on the shelf.