Page 32 - 8025 - Controlling and locating stock Learner Guide.docx

ADVANCED

RISK MA
In this system, you will find three levels of classification. The first one will be the major classification
as shown. The second one is the sub classification under the major classification. The third
classification will identify the specific item within the sub classifications.
We will use an example to explain this. Suppose we consider office supplies as a major classification,
there are many items in this classification to be sub classified as stationery supplies. Consequently,
we may further group the stationery items and identify the individual item. Say A-4 size photocopies
paper, which is the specific item.
The code system for our example assigns ten-digit code numbers to each specific item. Working from
the left to right each digit places the item in a successively narrower class until further differentiation
is not required. The first four digits are used for the major stock types. The next three numbers
indicate the sub class and the last three numbers indicate the specific item

The code given for a stock item is 4402- 001- 001. The first four digits indicate the item is office
supplies, the next three digits i.e., 001 indicate the sub class within the office supplies let us consider
this as stationery supplies. The last three digits indicate the specific item within the sub class
stationery supplies; let us designate it as white A-4 size photocopy paper.

Record stock
Following is an example of a stock record card:

Description of Item Code
Unit Minimum level Maximum level

Shelf No

Date Reference No Quantity Quantity Balance Remark
Received Issued

When you receive stock, you complete the stock record card as follows:
 enter the date the goods were received

 note the reference number
 note the quantity received

 add this quantity to the previous balance to show the new balance
 add remarks, if applicable

__________________________________________________________________________________ 29
©Global Maritime Legal Solutions (GMLS) Version 1_2018

THIS IS ACCREDITED MATERIAL THAT IS COPYRIGHTED TO GMLS AND AS SUCH SHOULD NOT BE COPIED OR DISTRIBUTED WITHOUT THE EXPRESS
WRITTEN PERMISSION FROM GMLS MANAGEMENT