Inventory Process

Process controls to service and assist in optimizing demand and supply chain management.

Inventory Menu INVENTORY DETAILS & ORDERING POLICIES STORAGE LOCATIONS STORAGE TRANSFERS INVENTORY REQUISITIONING RECEIVE & INSPECT COMMODITIES SUPPLIER WARRANTIES SUPPLIER RETURNS SPARES MAINTENANCE DISPOSE OF MATERIALS HAZARD REGULATORY COMPLIANCE STOCK QUANTITY AUDIT STOCK VALUATION STOCK ADJUSTMENT WORK ALLOCATION & BONDING ISSUE AND DELIVER MATERIALS STOCK RETURNS STOCK LEVELS STOCK USAGE RATIONALISE SPARES DATA CAPTURE

INVENTORY DETAILS AND ORDERING POLICIES
	COMMODITY DETAILS Commodity Detail - Item Numbering - Inventory List - Suppliers - Substitutes - Refurbishment - Warranty - Item Tracking - Ease of Location STORES POLICIES Stock Policies - Re-Ordering Algorithms STORAGE LOCATIONS Maintain Storage Locations - Bins - Shelves - Compounds -Topology INVENTORY MAINTENANCE Deteriorating Spares - Shelf Life - Item Maintenance MANAGE WARRANTIES Warranty Status - Warranty History - Internal Work
INVENTORY HOLDINGS
	REVIEW STORES STOCK LEVEL Slow-Moving and Inactive Stock - Obsolete Inventory - Inventory Balance/Order Report- Economic Order Quantity - Safety Stock - Re-Order Stock - Stock Items - Stores Order Requisitions - Scheduled Receipts - Stock Control - Stock Transaction History - Refurbishment Inventory - Comparative Quantity Status - Current Quantity Status REVIEW STOCK USAGE Inventory Usage - Excess Availability - Inventory Turnover RATIONALISE SPARES Multiple Stocks - Incorrect Costs/Value - Reduce Suppliers
INVENTORY REPLENISHMENT
	RAISE REQUISITIONS Reserving Stock (Stores) - Reserving Stock - Purchase - Funds Checking - Requisition Contents - Stock Records Update - On-Line Stores Request - Picking List - Slow Moving Items - Requisitioning/Reserving
INVENTORY EXPENDITURE
	EXPENDITURE & BUDGETING Establishing a Budget - Cost Code and Accounts - Expenditure - Commitments
INVENTORY VALUATION
	VALUATION METHODS Basis Of Stock Valuation - Period End Recording - Period End Audit Reports - Relationship To Job Costing - Separate Valuations - Refurbished Items STOCK VALUE Item Inventory Status - ABC Classification - Inventory Valuation - Item Value
INVENTORY MOVEMENT
	RECEIVE & INSPECT COMMODITIES Look Ahead - Order Matching - Stock Quantity Update - Order Balance/Status Update - Printing Stores Labels - Record Service Receipt - Raise Accrual - Refurbished Item SUPPLIER RETURNS Stock Quantity Update - Order Balance/Status Update - Reverse Accruals ISSUE & DELIVER MATERIALS Issue Methods - Picking List Production - Safety Procedures - Recording Issues - Commodity Values - Stores Issue Completion - Issue Control - Raise Contracts - Certified Items STOCK RETURNS Stock Returns Recording - Automatic Update Of Quantity - Financial Postings - Return Of Refurbishable Item DISPOSE OF MATERIALS Disposal Decision - Controlled Disposals - Financial Postings TRANSFERS Location Transfers - Transfers Between Cost Centers- Mass Transfer Capability - Special Equipment
WORK INVENTORY ALLOCATIONS & BONDING
	ALLOCATE SPARES FOR WORK Look Ahead - Stock Quantity - Required Date - Allocated Against Job, Person and Equipment - Lead Time BOND SPARES FOR WORK Allocated - Placement In Bonded Bins - Receival Methods
INVENTORY AUDIT
	CYCLE COUNTS Inventory Checking - Cycle Count Generation - Preview/Amendment Of Cycles - Input Of Stocktake Actuals Physical Inventory Variance - Past Due Cycle Reports - Physical and Cycle Count - Physical/Cycle Count Variance STOCK ADJUSTMENT Defining Stock Adjustments - Recording Stock Adjustment - Positive/Negative Adjustments - Write-Offs - Input Capabilities - Automatic Updates OPENING BALANCE Setting and Initializing
MATERIAL SAFETY & HAZARDS MANAGEMENT
	HAZARD and SAFETY REGULATORY COMPLIANCE Safety Procedures - Hazard Procedures - Handling Requirements - Hazardous Movements - Authorization - Material Hazard Reporting
DATA COLLECTION
	Bar Coding - Hand Held Devices