Podcast
Questions and Answers
What is the purpose of the Physical Inventory Count (PIC) at WFP?
What is the purpose of the Physical Inventory Count (PIC) at WFP?
- To identify discrepancies in the LESS system
- To check the accuracy of the stack cards
- To monitor the monthly stock prices
- To count and track all food commodities managed by WFP (correct)
Why is it important to reconcile physical inventory with stack cards and LESS?
Why is it important to reconcile physical inventory with stack cards and LESS?
- To establish monthly stock prices
- To ensure accurate inventory records (correct)
- To calculate warehouse operational costs
- To identify the responsible person for discrepancies
What happens if discrepancies between physical inventory and records are not justified?
What happens if discrepancies between physical inventory and records are not justified?
- Stocks are disposed of immediately
- The discrepancies are ignored
- The warehouse operations are suspended
- The responsible person is liable for the commodity value (correct)
In the context of PIC, what does reconciling count balances with stock cards involve?
In the context of PIC, what does reconciling count balances with stock cards involve?
Why is updating the inventory position in stack cards and LESS immediately emphasized?
Why is updating the inventory position in stack cards and LESS immediately emphasized?
What triggers a stock adjustment in BOTH Materials Management (MM) and Finance Module (FM)?
What triggers a stock adjustment in BOTH Materials Management (MM) and Finance Module (FM)?
How often should a full physical stock inventory exercise with reconciliation be undertaken?
How often should a full physical stock inventory exercise with reconciliation be undertaken?
Who is responsible for preparing the NFR that includes recognized discrepancies?
Who is responsible for preparing the NFR that includes recognized discrepancies?
What is one of the objectives of warehouse and inventory management?
What is one of the objectives of warehouse and inventory management?
When does the Head of Logistics sign the final physical inventory report?
When does the Head of Logistics sign the final physical inventory report?
