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  • What We Need Inventory

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    ksushruuth
    10 views2 pages
    The document outlines the key areas related to inventory management that need improvement or implementation. It discusses inventory item masters, material receipt formats, current storage safety practices, physical verification processes, and inventory records maintenance. Notes indicate that inventory identification and master data need creation/updating, receiving report formats exist but are not used, delegation authorities and other procedures are not implemented, and all records are currently maintained as physical books instead of software. Requisition, vendor master, inspection, shelf life monitoring, auditing, and other inventory processes also require procedures or implementation.

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    what we need Inventory

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    The document outlines the key areas related to inventory management that need improvement or implementation. It discusses inventory item masters, material receipt formats, current storage safety practices, physical verification processes, and inventory records maintenance. Notes indicate that inventory identification and master data need creation/updating, receiving report formats exist but are not used, delegation authorities and other procedures are not implemented, and all records are currently maintained as physical books instead of software. Requisition, vendor master, inspection, shelf life monitoring, auditing, and other inventory processes also require procedures or implementation.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    10 views2 pages

    What We Need Inventory

    Uploaded by

    ksushruuth
    The document outlines the key areas related to inventory management that need improvement or implementation. It discusses inventory item masters, material receipt formats, current storage safety practices, physical verification processes, and inventory records maintenance. Notes indicate that inventory identification and master data need creation/updating, receiving report formats exist but are not used, delegation authorities and other procedures are not implemented, and all records are currently maintained as physical books instead of software. Requisition, vendor master, inspection, shelf life monitoring, auditing, and other inventory processes also require procedures or implementation.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 2

    1 Inventory item wise master

    2 Format of material reciept


    3 Current storagae saftey
    4 Physical verification of stock
    5 Current Inventory records
    i. Item Master
    ii. Material Receipt Note
    iii. Inbound Material list
    iv. Inventory Register
    v. Physical Verification Reconciliation
    vi. Material Returns
    6 delegation of authority
    7 Format of requisition/indent
    8 Vendor master data
    9 Purchase order
    10 GRN format/Inspection format
    11 Handling of damaged or defective items
    12 Inventory tagging
    13 Shelf life monitoring
    14 Inventory audits
    15 Stock reordering parameters
    16 Stock valuation
    17 Distribution process and formats
    18 Disposal
    Notes:
    Need to Identify inventory and create or update masters in software
    Have an existing format for GRN but not implemented

    Procedure not implemented


    All records are maintained as physical books
    All records are maintained as physical books
    All records are maintained as physical books
    All records are maintained as physical books
    All records are maintained as physical books
    Procedure not implemented

    Have format of Indents but not used, orders placed via call
    Not maintained

    Inspected by stores manager

    Separate racks maintained for each category of goods


    Procedure not implemented
    Procedure not implemented
    Procedure not implemented
    Order cost basis
    Procedure not implemented
    Procedure not implemented

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