STANDARD OPERATING PROCEDURE Ref. No.

: JM-SOP-08
Rev. No.: 00
SOP for carrying out Physical Inventory of Store Date : 21-05-2021
Item

1.0 PURPOSE

This SOP covers inventory taking process of all the items received through GRN and lying
with store.

2.0 RESPONSIBILITY

Store Head

3.0 PROCEDURE

i. Physical inventory of all store item shall be done in such a way so that all the items
should get verified within 4 months (three times in a year).
ii. Valuable items listed below shall be verified every month end:

S. No. Item Name

1 Furnace Oil

2 Diesel

3 All chemicals used in Smelting & Refining

4 Valuable item having item value more than 5 lacs and above.

iii. Apart from this, other items are expected to get verified monthly Category wise as
below:

S. No. Item Category Inventory Period

1 Mechanical Items 1st month of the quarter

Prepared By: Approved By:

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 STANDARD OPERATING PROCEDURE Ref. No.: JM-SOP-08
Rev. No.: 00
SOP for carrying out Physical Inventory of Store Date : 21-05-2021
Item

2 Electrical Items 2nd month of the quarter

Other consumables apart from listed 3nd month of the quarter

3
above

iv. Before taking inventory, ODOO inventory of the item shall be noted and after
verification, gap analysis to be done.
v. The inventory taking process shall be witnessed by related or assigned
department /internal auditor.
vi. After completion of the inventory, report shall be sent to Plant Head with the
reason of the gap (either shortage or excess).
vii. The gap analysis shall also be presented in MRM as an informative slide.

4.0 REFERENCE RECORD

ODOO Inventory as on date.

Prepared By: Approved By:

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