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Late Days tells when a scheduled count should be considered late.
So if you make late days = 5 and if you schedule a cycle count today. After 5 days, it will be considered late.
AFAIK, this field is not used in Oracle. But you can use it in reports.
Thank you so much for your reply. So if the late days = 5, After 5 days is system going to show any warning or something?