Page 87 - 8025 - Controlling and locating stock Learner Guide.docx

ADVANCED

RISK MA
Handling errors

 Items stored in the wrong locations
 Damaged stock not reported

 Incorrect number of items being picked
 Items given wrong code numbers

Reporting Discrepancies

If a discrepancy in stock numbers is identified it should be investigated.
 Check all calculations to make sure there is no mistake.

 Check all documents such as receipts, issues and delivery and return documents to see if
there is a mistake.
 Examine previous stock take results to see if there were any previous discrepancies.

Adjustments may need to be made to inventory records to match the actual stock amounts.
Adjustments will be the responsibility of a particular person in your organisation.

Activity 4

Why is stock taking necessary? Provide at least 3 reasons.
What is “shrinkage”?

Describe the two main types of stock take procedures which could be used. (periodic and continuous)
Describe ‘one person’ and ‘two persons’ stock take procedures and list the advantages and
disadvantages of each.

Should a discrepancy be discovered during stock take, describe methods to check, rectify or explain
the discrepancy.
Explain why it is necessary to plan a major stock take before the event. What does ‘down time’ mean?

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