-The search column used by nlapiLookupField (in the if statement) may be different depending on the record type. Check the SuiteScript Records Browser to confirm which is correct for the record type this script will be deployed on (Eg for the item record it is modified but for case records it is lastmodifieddate)
-For custom records it is possible to turn off optimistic locking. See the article Enabling Optimistic Locking for Custom Records.
This is an alternate solution for Enhancement 268310
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