Inventory Management Procedures

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Questions and Answers

What must be completed on the Dispatch Authorization document?

Waybill number and shipping cost

Date of dispatch and total number of units dispatched (correct)

Supplier name and Purchase Order Number

Final inventory count and allocation balance

What action should be taken when a waybill signed by a receiver is returned to the warehouse?

Send a copy to the supplier for verification

Store the waybill without verification

Destroy the waybill to maintain confidentiality

Confirm the signature against the specimen on file (correct)

Which document must be prepared if applicable at the beginning of the process?

Inventory Ledger

Repackaging/Reconstitution Certificate (correct)

Daily Warehouse Report

Dispatch Authorization

How should the receiving points verify their consignment?

By checking the Dispatch Authorization against their records Signup and view all the answers

What is the purpose of maintaining separate files for receipt and dispatch documents?

To facilitate easier audits and discrepancies resolution Signup and view all the answers

What information must be documented during a physical count of inventory?

Differences between counted stacks and recorded inventory Signup and view all the answers

Which piece of information is NOT included in the shipment details?

Shipper's contact information Signup and view all the answers

What does the Purchase Order Number refer to in the documentation process?

A reference to the corresponding purchase order Signup and view all the answers

What should be done with dispatch information in terms of inventory records?

Update all related filing systems with the dispatch information Signup and view all the answers

If a shipment is delayed due to customs clearance, what information should be recorded?

Reason for shipment delay Signup and view all the answers

What should be noted in the 'Receipt Information' section of the waybill?

Any discrepancies between the dispatched amount and the tally sheet total Signup and view all the answers

What should be done if a non-CARE waybill is received?

Write any missing information onto the waybill Signup and view all the answers

In the case of damaged packages, what should be included in the 'Received in Good Condition' section?

The number of resulting full units after repackaging Signup and view all the answers

What should the transporter do if they disagree with the quantity or condition of items during delivery?

Write the differences in the Remarks section Signup and view all the answers

What should be done if an excess quantity is delivered than stated on the waybill?

Include the excess amount in the 'Received in Good Condition' section Signup and view all the answers

Why is it important to repackage inventory that arrives damaged?

To ensure the total number of full units can be recorded Signup and view all the answers

Who is required to sign the waybill to acknowledge delivery?

Both the receiver and the transporter Signup and view all the answers

What does the transporter acknowledge by signing the waybill?

They agree with the quantity and condition of inventory as reported Signup and view all the answers

What should be prepared for new items stored in the warehouse?

Warehouse inventory ledgers and stack cards Signup and view all the answers

What is the purpose of preparing warehouse stack cards?

To organize inventory placement Signup and view all the answers

Study Notes

Incoming/Outgoing Reports

Acknowledging Receipt:
- Fully complete the "Receipt Information" section of the waybill.
- Note any discrepancies between dispatched and tallied amounts.
- Record any losses not acknowledged at the time of waybill signing.
- For non-CARE waybills, document any missing information on the waybill to avoid liability.
Damaged Inventory:
- Repackage damaged inventory to the extent possible.
- Record the number of original damaged units, type of damage, and resulting repackaged units in the "Remarks" section of the waybill.
Excess Delivery:
- If delivered quantities exceed the waybill, include the excess in the "Received in Good Condition" section.
- In large shipments, wait until all items are delivered to determine if excess on one waybill compensates for shortage on another.
Discrepancies:
- If the transporter disagrees with quantity/condition, the differences should be noted in the "Remarks" section of the waybill.
- Failure to note differences can make the transporter liable.
Waybill Signatures:
- Both the receiver and transporter must sign the waybill.
- The transporter's signature confirms delivery of the correct quantity and condition.
- If the transporter disagrees with provided information, they should not sign the waybill.

Recordkeeping and Reporting

Warehouse Stock Cards:
- Update warehouse stack cards for new stacks and additions to existing stacks.
Inventory Ledgers:
- Create inventory ledgers for new items, shipments, and donors.
- Update them to reflect changes in existing stock.
Loss and Adjustment Report:
- Prepare reports as needed.

Documenting Dispatch

Dispatch Authorization:
- Complete the "Dispatch Authorization" form with relevant data (date, waybill number, dispatched units).
- Provide receiving points with a copy of the completed form.
Receiving Points Verification:
- Receiving points should verify the received consignment using information on the dispatch authorization.
Waybill Routing and Records:
- Properly route waybills.
- Maintain records of issued waybills.
- When a waybill is returned to the warehouse, check signatures against specimens.
- Investigate discrepancies; maintain separate files for Receipt and Dispatch documents.
Physical Counts and Reconciliation:
- Take a physical count of related stacks.
- Document and reconcile any differences.
Update Records: Update stack/bin cards and warehouse inventory ledgers using dispatch information.

Shipment Details

Shipment ID: Unique identifier for each shipment.
Purchase Order Number: Reference to the corresponding purchase order.
Supplier Name: Name of the supplier sending the shipment.
Receiving Date: The date the shipment was received.
Carrier: Shipping carrier used for the shipment.
Tracking Number: Tracking number for the shipment.
Items Received: Number of items included in the shipment.
Total Weight: Total weight of the shipment.
Total Value: Total value of the items received.
Shipping Cost: Cost of shipping the items.

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Description

This quiz covers the essential procedures for handling incoming and outgoing reports in inventory management. Focus is placed on acknowledging receipts, dealing with damaged inventory, managing excess deliveries, and documenting discrepancies. Enhance your knowledge of best practices for accurate record-keeping and liability management.