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Physical Stocktaking Procedure

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                           PROCEDURE OF STOCK TAKING

  1. Obtaining the stock statement from System – a) quality-wise b) Color-wise.


  2. Make two different groups consisting of one person from Head Office, one person from
     Factory Accounts and one person from Finished Goods Store.               These should be
     supported by adequate number of labour and Forklift driver. They must have coloured
     marking chalk for putting identification on the stock taken / checked.


  3. Every individual group should check each and every item and they should make proper
     records of the physical stock as per annexure.


  4. The documentation of the physical stock taking should be checked and consolidated
     statement should be prepared to ascertain the total quantity available in the stock.


  5. Whatever stock taken out for dispatch and put into dispatch area, should be checked
     properly whether invoices has been made or only challan has been prepared.


  6. Any kind of materials found in damaged condition must be checked separately and
     recorded accordingly.


  7. Every physical stock taking sheet should be signed jointly by all persons of Head Office,
     Factory & FGS (Finished Goods Stored).


  8. The detailed consolidated statement with all inputs and variation of stock, if any found,
     should be prepared.


  9. These statements should be discussed with GM / VP Factory - Accounts as well as GM/
     VP Production / Works.
10. Necessary Action should be taken by Adding Materials (Physically Present but not in
   system) / Writing Off in System (Present in System but physically not existing) after
   proper discussion & Approval from Higher Management.

				
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posted:9/25/2012
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