Physical Inventory for vendor consignment with external file

Hi,

My client is still using the legacy system for inventory management. SAP gets all inventory data from IM system in flat files. We already have a physical inventory process in place for regular material (using external file in MI39 transaction).

Now client wants to set up a similar physical inventory process for vendor consignment stock. High level process flow would be -

1. receive a flat file with consignment stock from IM system in SAP AL11 directory.

2. create physical inventory documents and enter count automatically wrt this file in SAP.

3. Business will verify the differences and will post the count.

In general, idea would be to create a process similar to current regular physical inventory.

Is this a right approach? or do I need to follow a different approach?

Thanks,

Pat.