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Are you on 11i or R12.
Do you use Discrete Manufacturing or OPM ?
If you are using R12 OPM, then you can set the lot status after sampling and testing the lot.
Otherwise you can write a custom procedure to update lot status (using INV_LOT_API_PUB.update_inv_lot)
and base a concurrent program on it (And schedule it at appropriate frequency ..).
You can setup forms personalisation in the lot entry form to restrict receiving of expired and near expiry lots.