1.  After each warehouse count, the Physical Inventory Manager (PIM) prepares a memorandum of inventory that includes:

  • A physical inventory summary description (inventory type, scope, coverage rate, list of adjustment…)
  • A list of the people who participated to the count
  • An explanation of the most significant variances in quantity/ value (above the fixed threshold)
  • A signature (hand written or by mail) of the report by all the people having responsibilities in the count (supervisors of counting team and of key-punching team, inventory manager)
  • Validation by the Finance Manager or the Business Controller, the plant manager and the Enterprise Supply Chain Director when the sum of the adjustment is above a threshold defined in the procedure

2. Every month, the Finance responsible assigned prepares a “cycle counts monthly recapitulative memorandum” that includes:

  • An explanation of the most significant variances in quantity/ value (above the fixed threshold)
  • Validation by the Finance Manager or the Business Controller, the plant manager and the Enterprise Supply Chain Director when the sum of the adjustment is above a threshold defined in the procedure

3. Every quarter, the Finance responsible assigned updates a progress report on physical inventories.

 

 

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3 Comments

  1. Romane MULLER

    Jean-Pierre Godbillon faut il insérer ces précisions (concernant le memorandum of inventory) dans la procédure ?

  2. SCHUBERT, Eduardo Luis

    I believe the right sentence may be :

    1.  After each warehouse count, the Physical Inventory Manager prepares a memorandum of inventory that includes:

    1. Filipe Ramos dos Santos

      It was updated.