10 Questions
What is the purpose of the Physical Inventory Count (PIC) at WFP?
To count and track all food commodities managed by WFP
Why is it important to reconcile physical inventory with stack cards and LESS?
To ensure accurate inventory records
What happens if discrepancies between physical inventory and records are not justified?
The responsible person is liable for the commodity value
In the context of PIC, what does reconciling count balances with stock cards involve?
Comparing physical counts with recorded quantities
Why is updating the inventory position in stack cards and LESS immediately emphasized?
To maintain an accurate inventory position
What triggers a stock adjustment in BOTH Materials Management (MM) and Finance Module (FM)?
Clearing the physical count differences by the HoL in the system
How often should a full physical stock inventory exercise with reconciliation be undertaken?
Quarterly
Who is responsible for preparing the NFR that includes recognized discrepancies?
Logistics Assistant (Less Focal Point)
What is one of the objectives of warehouse and inventory management?
Maintaining accurate inventory records
When does the Head of Logistics sign the final physical inventory report?
Upon completion of the reconciliation activities
Learn about the process of counting food commodities managed by WFP, involving a team of staff members tallying each commodity in the warehouse to ensure accurate stock balance reconciliation.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
