You can transfer an Item from one Location to another Location or within the same location with the help of "Transfers".  

• You can Transfer an item to another Location in three ways:

Move: This means that the Item is completely transferred from one Location to another Location. Note: you will not be able to move an Item to an open Item Number within the same Location.

Duplicate: This means that a Item in one Location is copied or duplicated and the copy is stored in a separate Location from the original.

Merge: This means that one Item is merged into another to form a single Item