�XY�ո2���%B*b� This Inventory Control Procedure should be utilized by purchasing, shipping, receiving, warehouse and accounting personnel. <>/Pattern<>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 720 540] /Contents 4 0 R/Group<>/Tabs/S>> Get rid of unneeded stock. This domination will allow the smooth and appropriate execution of the inventory control. An equivalent term is inventory management; control was at one time based on periodic countings and listings of stock on hand, and as the lists were called ‘inventories’, control of the things listed came to be called ‘inventory management’. business with no stock control procedures can have been 10% to 20% stock shrinkage or $20,000 to $40,000 of profit being lost to stock variances. 216 0 obj <> endobj 242 0 obj <>/Filter/FlateDecode/ID[<6FC8B44D5FDC4C8D89902934814D2E1F>]/Index[216 55]/Info 215 0 R/Length 120/Prev 522193/Root 217 0 R/Size 271/Type/XRef/W[1 2 1]>>stream �袊�>�(�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� (�� Z)(��(��(��(���� ZJ(��(��(��(���� Z)(����-�P�IE -�P�IE -Q@��4 �Rf���E QE��3FiŢ�4f�Ţ�4f�Ţ�4f�Š3Fh�\(�4f��QFh�p��)�QE% -%P ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��( ��њ�E&�H\����2 Here are some of the different methods, both tried and tested and new, around how to best manage your stock levels for the type of business you have. While the majority of hospitality business owners recognise the benefits of stock control many find it difficult to implement it in their business. Inventory control is one such consequence. At every review you place an order to return stocks to a predetermined level. �� � w !1AQaq"2�B���� #3R�br� (�� Stock reviews . �� endstream endobj startxref 0 %%EOF 270 0 obj <>stream (�� waste. H�&:��#�D��D/�X�:�/�Dd�+��BD�`mû�& (4) It assists to minimize pilferage and fraudulent practices. 5.2 As a further control measure, regular random stock counts shall be arranged and ... approved Standard Operating Procedures for stock management. (�� Different methods for stock control management . !��6�{���,9��[Ȝ�|��{~$�5 ,a�\P����� � ��6aP����k�c���#B��@��= !�"��6"��B�����lHtO���a�Vv&z� <> Checking Merchandise The spot check method X is a random check of one carton in a shipment. $4�%�&'()*56789:CDEFGHIJSTUVWXYZcdefghijstuvwxyz�������������������������������������������������������������������������� ? (�� Some methods are too complicated, especially for smaller companies. General Information: The Asset Management Personnel (AMP), in the Controller's office, under the Vice !(!0*21/*.-4;K@48G9-.BYBGNPTUT3? UV10351_v2. (�� ��&�"��}�4��0�F�7e"���%�y�k�%pD�� �y�6��O��i�0n9j��Y! %PDF-1.5 endobj Let’s say a product you stocked didn’t sell well. (�� (�� control state, p. 194 cost of goods sold (COgs), p. 207 first in, first out (FiFO), p. 193 inventory turnover rate, p. 207 last in, first out (LiFO), p. 193 lead time, p. 198 license state, p. 194 order point, p. 198 perpetual inventory, p. 192 physical inventory, p. 191 rotation, p. 201 safety level, p. 198 M08_NRAM5738_01_SE_C08.indd 189 3/13/12 3:28 PM. (�� In inventory control procedures, there should be point persons who have the authority to command people on the proper inventory item usages. (�� O6�m'�}h%�H�4f��'֌��j�&�L�X�Q�I|��(�=j?�.�����,�Y�}�����o����Sլ%w�L^o�_o�$�)7�o��y-�T�U��� e 0d#~ endstream endobj 217 0 obj <>>>/Lang(en)/MarkInfo<>/Metadata 9 0 R/Names 244 0 R/Outlines 265 0 R/PageLayout/SinglePage/PageMode/UseOutlines/Pages 212 0 R/StructTreeRoot 23 0 R/Type/Catalog/ViewerPreferences<>>> endobj 218 0 obj <>/ExtGState<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/Rotate 0/StructParents 243/Tabs/S/Thumb 7 0 R/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 219 0 obj <>stream Minimum stock level - you identify a minimum stock level, and re-order when stock reaches that level. %���� Your business will take regular stock reviews to establish whether new stock must be ordered. (�!`(дS�S��Ef�p\�M3t�0��s��.�?�ؘ�zi��"s�R-�=I��`�K��6�u������������ҧ����F�����ל�:�}}!? • Train your staff in stock control and make sure they know in what order to use foods. [$�#Afd �� ��� ���@���O@� �*���f`bdHic`�!���&�? Stock control. (8 pages, 1990 words) (D;�0�@Meg`?W 1����,�Ȁ |d`���ed���F.Hۓ�pU�^CU�Ҭ�{s��Y�|�=�n��3� Not all inventory control procedures are ideal for every business or for the varying stages of an organization’s growth and development. 10 Policy for Capitalization and Inventory Control (issued by the Chancellor, June 1 9, 1989, revised by the Board of Regents, June 9, 1995, July 7, 2000, June 19, 2014). GLH Credit value Level Observation(s) External paper(s) 11 2 1 0 0. 3 0 obj Update your stock records and ensure your Financial Policies and Procedures Manual includes a policy to track all movement of stock – this will help with reordering stock only when you need to, and highlight any theft or fraud that may occur. �d$��ֳ�]=��7�����ipY'��x�c����T�Kr��m������]�Z8�?ʹ�*��$9�u:�r3���g��+5*�%�;D�(�N�P�ޛ��/����r��Ci�y�fەs��9����ףqY0>�Y�17p����!=+̇�#�K@����F� �J��J��X"� `���uFt&��!�g$+��9K��fԟ{k�^a��S�4�f���F6�?b��S��v@�Df�ɬ�»vH�t�ϵrg6s�ݴ)�l̪��̪�!18Q!�8׺�F]������['/������9���ȫ�&G��bΕuca�Q%=�]42��.-ѱ��5T�p������ă�:�O��W��h�֤�k��s���j��p�8�qr�hi�%��yȹW�[�*�'9�h�7v��8����,�������M�^� R��Y���t�[�!q�Mz�F|)�{� �����>�}�d�&�-��:�j!��[���a��@,�R���Mq/I�H�枹'�&X%��^�s�؆I���C%ƓR��)��u_BomK���XpS�e��. (�� listing of all purchases of inventory items from January 2015 through March 2015. (�� On completion of this unit you will: Learning outcomes Evidence requirements Understanding the control, handling and replenishment of stock in a retail business 1. endobj Inventory Controllers, Store Managers and Officers who are interested to acquire knowledge and skills in controlling the store activities and operations, will find the programme useful and beneficial. ��~X|F=��DGY��w/r�F4lDy�f���!�-�+�]��� �Xh You should be able to use your system to track inventory levels, create orders and send out stock. system. If there is a difference in interpretation between this procedure and the one stated above, the procedure which gives greater protection takes precedence. • The Bernalillo County Inventory Control Policy and Procedures dated January 2015; and, • Year-End Inventory Closeout 2014 process. Financial policy and procedure manual template (DOCX 98.15 KB) Establish a stock control policy (�� h�bbd``b`V��@���8���r�k�`y���@b�@�� �@�� �T ! The President of the College shall appoint a Property Manager and … This procedure is faster than the blind check, but errors may not be found if the invoice is incorrect. 2 0 obj However, many of the control procedures for receiving and storing supplies and equipment detailed in this supplement are applicable to the requirement for protecting the assets of the school and can be modified to meet the school’s objectives. Effective stock control methods The Stock Control House Rules are an essential component of your HACCP based system and must be kept up to date at all times. It is intended to assist personnel in implementing and maintaining an effective property control program. endobj (�� 4 0 obj • Follow the ‘first in, first out’ system of stock rotation, so that older stock is used first. (�� There’s no point leaving it … Stock control procedures - Learner guide 3 Developed by Workspace Training – adapted from the ‘Timber Toolbox’ e-learning resource Green, rough sawn oregon is a very stable timber, and is able to cope with being stacked in an open yard while it's waiting to be sold. 1 0 obj (�� Stock control is the sum total of policies, practices and procedures that a firm follows to ensure that its stocks are kept at levels consistent both with meeting predetermined standards of service and with releasing funds for working capital. This is known as the Re-order Level. �� � } !1AQa"q2���#B��R��$3br� We performed the following testwork: Inventory Control Receiving: We obtained a . in an optimal manner. ]c\RbKSTQ�� C''Q6.6QQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQQ�� x " �� 27 Flow Scheme Material Handling Procedure 28 Material Control by Means of Computer (Piping) 28.1 The site computerized material Stock Control System is programmed for: (�� Inventory control of spare parts is essential to many organizations, since excess inventory leads to high holding costs and stock outs can have a great impact on operations performance.
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