When attempting to create a new Inventory Monitoring record from the Inventory Monitoring tab, the following error occurs: Action not allowed. You may not perform that action against this type of object.
It is not possible to create an Inventory Monitoring record from the Salesforce Inventory Monitoring tab.
New Inventory Monitoring records can be created from the My Accounts list, Account Detail page, Inventory Monitoring Related List, and Call Report.
CRM Help Documentation: Inventory Monitoring Overview
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