Def - Lot Status

Identifies whether the Lot is Open or Closed. Lots are automatically set to "Closed" when all balances are 0.00 (On Hand, Committed, Allocated, and On Hold). Lots can also be manually closed even with remaining balances. This is most commonly used for Lots with small residual balances typically caused from UOM conversion rounding (e.g., a Lot shows a balance of 0.00 Units and -0.00025 lbs).