Identify Any Discrepancies Between Digital and Physical Inventory
14
Approval: Supervisor for Discrepancies
15
Enter Adjustments If Required
16
Update Total Quantity On Hand with Adjustments
17
Generate Stock Control Report
18
Approval: Department Head for Stock Control Report
19
Archive Previous Stock Control Sheet
20
Save and Secure Updated Stock Control Sheet
Enter Stock Item Details
In this task, you will enter the details of the stock item. This includes the name of the item, its unique ID or code, and any other relevant information. This task is crucial as it forms the foundation for the stock control process. Make sure to double-check the accuracy of the data entered to prevent errors later on.
Enter Initial Quantity On Hand
In this task, you will enter the initial quantity of the stock item that is currently available. This information will be used to calculate the total quantity on hand later in the process. It is essential to accurately record the initial quantity to maintain accurate stock control.
Enter Stock Purchase Details
In this task, you will enter the details of each stock purchase. This includes the supplier name, purchase order number, purchase date, and quantity purchased. By accurately recording these details, you can keep track of stock inflow and monitor any discrepancies that may arise.
Calculate Total Quantity On Hand
This task involves calculating the total quantity of the stock item currently on hand. To do this, add the initial quantity on hand to the sum of all purchased quantities. The result will provide an accurate measure of the stock level at any given time.
Enter Stock Sales Details
In this task, you will enter the details of each stock sale. This includes the customer name, sales order number, sales date, and quantity sold. Accurate record-keeping is essential to keep track of stock outflow and identify any discrepancies that may occur.
Deduct Sold Quantity From Total Quantity
This task involves deducting the quantity sold from the total quantity on hand. By subtracting the sold quantity, you can update the stock level and determine the current quantity available for sale.
Check For Discrepancies
In this task, you will check for any discrepancies between the recorded stock level and the actual stock available. This step is crucial for identifying any errors or inaccuracies in the stock control process. If any discrepancies are found, they should be resolved before proceeding further.
Determine If Re-Ordering Is Needed
In this task, you will determine if re-ordering of the stock item is required. This decision is based on the current stock level, sales trends, and any set threshold for re-ordering. Accurate assessment is essential to ensure the stock is replenished on time to meet demand.
1
Yes
2
No
Create Re-Order List If Required
If re-ordering of the stock item is needed, this task involves creating a list of items to be re-ordered. Include the item name and the desired quantity to be ordered. This list will serve as a reference for initiating the re-order process.
Approval: Purchasing Manager for Re-Order
Will be submitted for approval:
Create Re-Order List If Required
Will be submitted
Update Stock Item Detail If Required
In this task, you will update any necessary details of the stock item. This could include changes to the item name, ID or code, or additional information. Accurate and up-to-date information is essential for effective stock control.
Cross-Check Data With Physical Inventory
This task involves cross-checking the recorded stock data with the actual stock available in the physical inventory. By comparing the two, you can identify any discrepancies or errors in the stock control process and take corrective measures.
Identify Any Discrepancies Between Digital and Physical Inventory
In this task, you will identify and document any discrepancies between the recorded stock data and the physical inventory count. This step is necessary to ensure the accuracy of the stock control system and take appropriate actions to rectify any discrepancies.
1
Quantity Discrepancy
2
Item Mismatch
3
Other
Approval: Supervisor for Discrepancies
Will be submitted for approval:
Identify Any Discrepancies Between Digital and Physical Inventory
Will be submitted
Enter Adjustments If Required
If any adjustments are needed to correct the discrepancies identified, this task involves entering the necessary adjustments. Include the item name, quantity adjustment, and any relevant notes. Accurate adjustments are crucial for maintaining the accuracy of the stock control system.
Update Total Quantity On Hand with Adjustments
This task involves updating the total quantity on hand with the adjustments made. By incorporating the adjustments, you can ensure that the recorded stock level accurately reflects the actual stock available.
Generate Stock Control Report
This task involves generating a stock control report. The report should include relevant data such as stock item details, quantity on hand, sales information, discrepancies, and adjustment details. The report provides a comprehensive overview of the stock control process and helps identify areas for improvement.
Approval: Department Head for Stock Control Report
Will be submitted for approval:
Generate Stock Control Report
Will be submitted
Archive Previous Stock Control Sheet
In this task, you will archive the previous stock control sheet. Archiving ensures that the historical data is safely stored and easily accessible if needed in the future. Proper archiving is essential for maintaining a structured and organized stock control system.
Save and Secure Updated Stock Control Sheet
In this final task, you will save and securely store the updated stock control sheet. Make sure to use appropriate file naming conventions and storage methods to ensure easy retrieval and protection against loss or unauthorized access.
