Templates
Supply Chain Management
SOP for Inventory Management Template
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SOP for Inventory Management Template

1
Identify all items that need to be counted in the inventory
2
Gather essential tools for inventory count (barcode scanner, inventory management software etc.)
3
Train employees on how to count and enter items into the system
4
Assign each employee a specific area of the inventory to count
5
Begin the counting process
6
Input the count data into the inventory management system
7
Verification: Double-count high value items for accuracy
8
Input the verification into the inventory management system
9
Compare the count data with the existing data in the system
10
Highlight any discrepancies for review
11
Approval: Inventory Auditor
12
Investigate discrepancies and resolve them
13
Adjust the database to correct any overstocks or understocks
14
Generate a comprehensive inventory report
15
Review the report for any unusual activity/sudden changes
16
Approval: Inventory Manager
17
Make necessary recommendations for improving inventory management
18
Review and update inventory management policies and procedures based on recent audit
19
Communicate changes in procedures to the team