Inventory Control of Materials and Components

December 11, 2022January 27, 2024 Abha Maurya

Inventory Control of Materials and Components

Procedure

Raw Material Store, Packing Material Store and Finished Goods Store shall maintain proper records with respect to the Inventory Control of Materials and Components.

Inventory Control regarding Raw Materials:-The following records shall be maintained by the Incharge of the Raw Material Store in which necessary inventories shall be regularly made:

Raw Material Receipt Note:- The inventories of the following particulars shall be made in this record:

R.M receipt No. / GRN No. and Date
Invoice No. and Date

Name and address of the supplier

Name and address of the transporter
Gate entry date and vehicle No.
Name of material and its Batch No,

No. of containers and quantity in each
Rate, Amount and Tax
Quantity in Invoice, Quantity received and Shortage, if any.

Daily Receipt Record:- In this record, the following inventories shall be made:

GRN No. and Date

Vendor’s Name

Name of an item and its Code No.

Quantity Received

GRN intimation sent to QC Department:- Inventories of the following particulars shall be made in this intimation record:

Item Name
Supplier Name
GRN No. and Date
Invoice No. and Date
Batch No. and Batch Quantity
No. of containers
Manufacturer
Intimation date

NOTE:

The material on receipt shall be stored in the quarantine area. The Quality Control after taking the sample of material shall label the containers with the status label of “Quarantine-Sampled” which shall be Yellow in colour.
The Quality Control after testing shall put the status label “Released” in green colour in case of results complies or “Rejected” in Red colour, in case of not results complies.
The Passed/released material shall be stored at the proper storing condition in the approved Raw Material Store and the Rejected material shall be shifted to the Rejected Goods Store.

Raw Material Issue Note :- The Incharge of Raw Material Store shall make the inventories of the following particulars in this record for the supply of materials to the Production Department on the basis of the Requisition Slip produced by the Production Department:

Name of the Department to whom issued
Document / Issue No. and Date
Requisition No. and Date
Product to be manufactured, its Batch No., Batch Size, Mfg. date, Exp. Date and Unit Qty.
Name of the material issued, Required Qty., Qty. issued, GRN No., Q.C. No. and Issued Qty.

Stock Sheet:- In this record, inventories of the below-noted particulars shall be made:

Date
Name of Raw Material and its Code No.
Opening balance, Batch No. and Mfg. Date
Supplier’s Name and Address
Manufacturer’s Name and Address
Invoice No. and Date
of containers
received
Shortage, if any
issued
Name of product for which issued, its Batch No. and Batch Size
Closing balance

Inventory Control regarding Packing Materials :- The following records shall be maintained by the in-charge of the Packing Material Store in which necessary inventories shall be regularly made:

Packing Material receipt Note: – The inventories of the following particulars shall be made in this record.

GRN No. and Date
Name of supplier
Invoice No. and Date
in Invoice, Qty. received and difference
Item Name, Qty. and No. of boxes
Rate, Amount, Taxes and Freight charges
Gate entry, Date and vehicle No.
Transporter’s Name

GRN intimation sent to QC Department:- In this record, inventories of the following particulars shall be made:

Item Name
Supplier Name
GRN No. and Date
Invoice No. and Date
Batch No. and Batch Quantity
of containers
Manufacturer
Intimation date

NOTE:-

The material on receipt shall be stored in the quarantine area. The Quality Control after taking the sample of material shall label the containers with the status label of “Quarantine-Sampled” which shall be yellow Colour.
The Quality Control after testing shall put the status label “Released” in green colour in case of results complies or “Rejected” in Red colour, in case of results not complies.
The Passed/released material shall be stored at the proper storing condition in the approved Packing Material Store and the Rejected material shall be shifted to the “Rejected Goods Store”.

Packing material Issue Note :- The In-charge of the Packing Material Store shall make the inventories of the following particulars in this record for the supply of material to the Production Department on the basis of the Requisition Slip produced by the Production Department:

Name of the Department to whom issued
Document / Issue No. and Date
Requisition No. and Date
Product to be manufactured, its Batch No, Batch Size, Mfg. date, Exp. Date and Unit Qty.
Name of the material issued, Required Qty., Qty. issued, GRN No., Q.C. No. and Issued Qty.

Packing Material Returned from Production:- In this record, the inventories of the following particulars shall be made:

Product Name and its Batch No.
Return Note No. and Date
Production section, Batch Size, Mfg. Month and Exp. Month
Unit Size and Pack Size

Stock Sheet:- In this record the inventories of the following particulars shall be made:

Issue No. and Date
Name of item and its A.R. No.
Department to whom issued
Name of product for which issued, its Batch No. and Batch size
Opening balance, Qty. issued and closing balance

Inventory Control regarding Finished Goods:- The following records shall be maintained by the in charge of the Finished Goods Store in which necessary inventories shall be regularly made:

Stock and Sale statement:- In this record, the inventories of the following particulars shall be made:

No. and Date
Name of product with unit size
Opening stock
received from production
Total Qty.
sold
Closing balance

NOTE:-

The inventories in this record shall be made by the finished goods in charge after the receipt of the “Daily Production Slip” received from the production department and the “Release Order” from the Quality Assurance department.

Sale Inventory Stock Statement:- In this record, the inventories of the following particulars shall be made:

No and Date
Product Code, Product Name with Unit size
Opening Stock
Opening Stock value
received from Production
sold
Closing stock
Closing stock value

Sale Invoice:- In this record, the inventories of the following particulars shall be made:

No. and Date
Name of product, its Unit size, Batch No. and Exp. Date
of boxes and Qty. in each box
Total qty.
MRP per unit
Rate per unit
Total value
Excise duty, Cess on E.D. and Sales tax.

The In-charge of stores for Raw Material, Packing Material and Finished Goods shall strictly follow the system of “First In- First Out” to ensure that the oldest approved product or material is used first.
The Rejected, Outdated, Returned / Recalled Finished Goods shall be stored separately from rest of the stocks at the space allocated for this purpose. After clearance from the Managing Director, the same shall be destroyed as per SOP titled as “Disposal & Destruction of material” Proper destruction record shall be maintained.
The rejected, obsolete or Out-dated raw materials and packing materials shall be stored in a separate room meant for this purpose only and labeled as “Rejected / Out-dated materials” and proper records shall be maintained in this regard separately for Raw Materials and Packing Materials by their store incharges under intimation to Quality Assurance Department.
The rejected, returned, recalled, obsolete or outdated raw materials, packing materials and finished goods shall be destroyed as per the procedure laid in the SOP titled “Disposal & Destruction of material”.

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Amritsar, Amsterdam, Amur, Ancona, and Craigavon, and Down, ANDORRA, ANDORRA LA VELLA, ANGOLA, Angus, ANKARA, Annaba, ANTANANARIVO, ANTIGUA & BARBUDA, Antrim and Newtownabbey, Antwerp, Aosta, APIA, Ar Ru'ays, Ards and North Down, ARGENTINA, Argyll and Bute, Arkhangelsk, Arlington, Armagh, ARMENIA, As Salatah, Ascoli Piceno, Ashbourne, ASHGABAT, ashington, Ashland, Ashmore and Cartier Islands, ASMARA, Asti, Astrakhan, ASUNCIÓN, Athens, Auckland, Aurangabad, australia, Australian Antarctic Territory, Australian Capital Territory, Austria, Avellino, Aylesbury, Aylesbury Vale, AZERBAIJAN, Baaya, BAGHDAD, BAHAMAS, Bahia, BAHRAIN, BAKU, BAMAKO, Banbridge, BANDAR SERI BEGAWAN, Bangalore, BANGKOK, Bangladesh, Bangor, BANGUI, Bani Hajer, BANJUL, Barahat Al Jufairi, BARBADOS, Barcelona, Bareilly, Bari, Barletta-Andria-Trani, Barrow-in-Furness, BASSETERRE, Bath, Batna, Bavaria, Beaconsfield, Béchar, Bedford, BEIJING, BEIRUT, Béjaïa, Belarus, Belfast, Belgium, Belgorod, Belgrade, BELIZE, Belluno, 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Caserta, CASTRIES, Catania, Catanzaro, Causeway Coast and Glens, Ceara, Centerville, CENTRAL AFRICAN REPUBLIC, Central Bedfordshire, Ceredigion, CHAD, Chalfont St. Giles, Chandigarh, Charlottetown, Chelmsford, Chelyabinsk, Chennai, Cheshire East, Cheshire West and Chester, Chester, Chesterfield, Chichester, Chieti, CHILE, Chiltern, China, Chlef, Christmas Island, City of London, Clackmannanshire, Clayton, Cleveland, Clinton, Clydebank, Coatbridge, Cockermouth, Cocos (Keeling) Islands, Coimbatore, Coldstream, colombia, COLOMBO, Como, COMOROS, CONAKRY, Congleton, CONGO, Constantine, Conwy, Copeland, Copenhagen, Coral Sea Islands, Cornwall, Cosenza, COSTA RICA, CÔTE D'IVOIRE(Ivory Coast), Coventry, Cremona, Crewe, CROATIA, Cromarty, Crotone, CUBA, Cumbernauld, Cumbria, Cuneo, Cuttack, CYPRUS, Czech Republic, CZECH REPUBLIC (Czechia), Dahl Al Hamam, DAKAR, Dalkeith, DAMASCUS, Darlington, Darwin, Dayton, Dehradun Garhwali, Delhi, Denbighshire, denmark, Derby, Derbyshire, Derbyshire Dales, 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Fermanagh and Omagh, Fermo, Ferrara, Fife, FIJI, Finland, Firozabad, Flintshire, Florence, Foggia, Forlì-Cesena, Forres, Fort William, Fowey, france, Frankfurt Rhine-Main Region, Franklin, Fredericton, FREETOWN SINGAPORE, Frosinone, Fujairah, FUNAFUTI, Fuwayrit, GABON, GABORONE, Galashiels, GAMBIA, Genoa, Georgetown, Georgia, Germany, GHANA, Gharrafat Al Rayyan, Ghaziabad, Glasgow, Gloucester, Gloucestershire, Goias, Gorakhpur, Gorizia, Grasmere, Greater Glasgow, Greater London, Greater Manchester, greece, Greenock, Greenville, GRENADA, Grosseto, GUATEMALA, GUATEMALA CITY, Guelma, GUINEA, GUINEA-BISSAU, Gujarati, Gulbarga, Guntur, Gurgaon, Guwahati, GUYANA, Gwalior, Gwynedd, Haddington, HAITI, Halifax, Halton, Hamad Medical City, Hamburg, Hampshire, Haora, HARARE, Hartlepool, HAVANA, Hawick, Hawke's Bay, Hazm Al Markhiya, Heard Island and McDonald Islands, Helsinki, Helston, Hereford, Herefordshire, Hertfordshire, Hesse, High Peak, High Wycombe, Highland, Hobart, HONDURAS, HONIARA, Hove, Hubli and Dharwad, Hudson, Hungary, Huntingdon, Huntingdonshire, hyderabad, ICELAND, Imperia, Indonesia, Indore, Inverclyde, Invergordon, Inverness, Iqaluit, Iran, Iraq, ireland, Irkutsk, Irvine, Isernia, ISLAMABAD, Isle of Anglesey, Isle of Wight, Isles of Scilly, ISRAEL, Istanbul, Italy, Ivanovo, Izghawa (Al Rayyan), Izghawa (Umm Salal), Jabal Thuaileb, Jabalpur, Jackson, Jaipur, JAKARTA, Jalandhar, jamaica, Jammu, Jamnagar, Jamshedpur, japan, Jelaiah, JERUSALEM, Jervis Bay Territory, Jeryan Jenaihat, Jeryan Nejaima, Jhansi, Jijel, Jodhpur, jordan, JUBA, KABUL, Kaliningrad, Kaluga, Kalyan, KAMPALA, Kanpur, KATHMANDU, Katowice urban area, KAZAKHSTAN, Kazan, Kemerovo, Kendal, Kent, KENYA, Keswick, Kharkiv, KHARTOUM, Khawr al Udayd, Kiev, KIGALI, Kingston, Kingston upon Hull, KINGSTOWN, Kinross, KINSHASA, KIRIBATI, Kirkintilloch, Kirkwall, Kirov, Knutsford, Kochi, Kolkata, KOSOVO, Kostroma, Kota, Kraków, KUALA LUMPUR, Kurgan, Kursk, kuwait, KUWAIT CITY, KYRGYZSTAN, L'Aquila, La Spezia, Laghouat, Lancashire, Lancaster, LAOS, Latina, LATVIA, Launceston, Leabaib, Lebanon, Lebday, Lecce, Lecco, Leeds, Leicester, Leicestershire, Lejbailat, Lekhwair, Leningrad, Leqtaifiya (West Bay Lagoon), LESOTHO, Lexington, LIBERIA, LIBREVILLE, LIBYA, Lichfield, LIECHTENSTEIN, Lijmiliya, Lille–Kortrijk–Tournai France/ Belgium, LILONGWE, LIMA, Lincoln, Lincolnshire, Lipetsk, Lisbon, Lisburn, Lisburn and Castlereagh, LITHUANIA, Liverpool, Livorno, LJUBLJANA, LOMÉ, london, Loni, Looe, Lossiemouth, Lostwithiel, Luaib, LUANDA, Lucca, Lucknow, Ludhian, Lusail, LUSAKA, Luton, LUXEMBOURG, M'Sila, Macclesfield, Macerata, MADAGASCAR, Madinat Al Kaaban, Madinat ash Shamal, Madinat Khalifa North, Madinat Khalifa South, Madison, Madrid, Madurai, Magadan Moscow, Maghnia, MAJURO, MALABO, malawi, Malaysia, MALDIVES MALE, MALI, MALTA, MANAGUA, MANAMA, Manchester, MANILA, Manitoba, Mantua, Maranhao, Marlborough, Marlow, Marseille, Mascara, MASERU, Massa and Carrara, Matera, Matlock, Mato Grosso, Mato Grosso do Sul, MAURITANIA, mauritius, MBABANE, Mebaireek, Médéa, Medway, Meerut, Mehairja, Melbourne, Merseyside, Merthyr Tydfil, Mesaieed, Mesaimeer, Messina, Mexico, MEXICO CITY, Mid and East Antrim, Mid Ulster, Middlesbrough, Midlothian, Milan, Milford, Milngavie, Milton, Milton Keynes, Minas Gerais, Minsk, Modena, MOGADISHU, Monmouthshire, MONROVIA, MONTEVIDEO, Monza and Brianza, Moradabad, Moray, MORONI, Moscow, Mostaganem, Motherwell and Wishaw, Mount Vernon, Mourne, Muaither, Mumbai, Muraikh, Murmansk, MUSCAT, Mushayrib, Mysore, N'DJAMENA, Nagpur, NAIROBI, Najma, NAMIBIA WINDHOEK, Nanded Kolapur, Nantwich, Naples, Nashik, NASSAU, NAURU, Navi Mumbai, Neath Port Talbot, Nellore, Nelson, Nepal, Netherlands, New Al Hitmi, New Al Mirqab, New Al Rayyan, New Brunswick, New Fereej Al Ghanim, New Fereej Al Khulaifat, New Plymouth, New Salata, New South Wales, new Zealand, Newfoundland and Labrador, Newport, NewportAuburn, Newquay, Newry, NGERULMUD, NIAMEY, NICARAGUA, NICOSIA, NIGER, Nigeria, Nizhniy Novgorod, Nizhny, Noida, Norfolk, Norfolk Island, North, North Ayrshire, North East, North East Derbyshire, North East Lincolnshire, NORTH KOREA, North Lanarkshire, North Lincolnshire, NORTH MACEDONIA, North Somerset, North West, North Yorkshire, Northamptonshire, Northern, Northern Ireland, Northern Territory, Northumberland, Northwest Territories, Northwich, Norway, Norwich, Nottingham, Nottinghamshire, NOUAKCHOTT, Nova Scotia, Novara, Novgorod, Novosibirsk, Nu`ayjah, Nunavut, Nuoro, NUR-SULTAN, Nuremberg, Oakland, Old Al Ghanim, Old Al Hitmi, Old Al Rayyan, oman, Omsk, Onaiza, Ontario, OntarioToronto, Oran, Orenburg, Oristano, Orkney Islands, Oryol, OSLO, Otago, Ottawa, OUAGADOUGOU, Ouargla, Oxford, Oxfordshire, Padua, Paisley, Pakistan, PALAU, Palermo, PALESTINE, PANAMA, PANAMA CITY, PAPUA NEW GUINEA, Para, PARAGUAY, Paraiba, PARAMARIBO, Parana, Paris, Parma, Patna, Pavia, Pembrokeshire, Penrith, Penryn, Penza, Penzance, Pernambuco, Perth, Perth and Kinross, peru, 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SAINT VINCENT & THE GRENADINES, Sakhalin, Salem, Salerno, Salford, Salisbury, Saltash, Samara, SAMOA, SAN JOSE, SAN MARINO, SAN SALVADOR, Sandhurst, SANTIAGO, SANTO DOMINGO, SÃO TOMÉ & PRÍNCIPE, SÃO TOMÉ SAUDI ARABIA, SARAJEVO, Saratov, Saskatchewan, Sassari, Savona, Sawda Natheel, Saxony, Scotland, Scottish Borders, SENEGAL, SEOUL, Separate tags with commas, Serbia, Sétif, Seville, SEYCHELLES, Shagra, Sharjah, Sheffield, Shetland Islands, Shropshire, Sidi bel Abbès, Siena, SIERRA LEONE, Siliguri, Simaisma, singular, Skikda, SKOPJE, Slough, SLOVAKIA, SLOVENIA, Smolensk, Sofia, Solapur, SOLOMON ISLANDS, SOMALIA, Somer

Inventory Control of Materials and Components

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