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Process:SBS-P-DRTR-03-001 Inventory Valuation



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Responsibility area:SBS-P-DRTR-02-004 Internal Control Monitor  



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Risk

Slow turn inventory reserve do not comply with group rules

Objective

FRA updates every year slow turn inventory reserve calculation procedure for his/her plant(s)

Process description

Program ZWFA12A is run at the end of every quarter to provide a slow turn inventory reserve proposal. Strategic parts are parts whose unavailability would lead to a significant loss in OEE (Overall Equipment Effectiveness).
Strategic parts are not depreciated.

Control description

FRA fills in check list

Former Controls

IAC 03.08.08

Inventories shall be depreciated at least quarterly based on the age and movements of the material. Proposal will be provided to FRA for analysis (* Possible to be done by site as well) 


Control description

SBS is preparing and sending the report with the Inventory reserves to the FRA for analysis and validation



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Scope:
Image Removed Image Removed
WP2 & PF2
Frequency

Image Removed June closing D4Quarterly - Last working day of March, June, September, November(Hardclose)

Control owner

Finance Responsible Assigned (FRA)

References

 


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titleSAP Transactions

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showLabelsfalse
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operatorAND
cqllabel = "op_109" and space = "SAPCostCostProc"
labelsmaintain_assessment_cycles


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titleCosting rules

Content by Label
showLabelsfalse
max30
spacesSAPCost
showSpacefalse
sorttitle
operatorAND
cqllabel = "op_109" and space = "CostFAQ"
labelsmaintain_assessment_cycles

Control evidences

 

  • Reports analyzed with comments

  • Updated reserve decision

 





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  Guideline  



Expand
titleI download the last version of the check list

Download the file IAC 02.06 Slow turn inventory reserve.xls

There are 4 sheets in the file


2 sheets must be filled:

1. "Reserve FRA check-list" in english or in french

2. Procedure



Expand
titleI fill the checklist

Start to fill :

  1. the site
  2. the controller's name
  3. the date
  4. the period

Then answer "Yes" "No" or "N/A" to confirm that each control is performed .

Warning

If the answer is "No" or "N/A", it is compulsory to add a comment in column H

It is possible to add a control evidence (attachment or a link)



Expand
titleI attach the procedure & sales force ticket

1. Attach your validated procedure describing how items excluded from slow turn reserve are identified

Section


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  1. Choose "insert"
  2. Click on the "Object" button
  3. This window will open
  4. Select "Create from File"
  5. Add you file by clicking in "Browse"
  6. Select "Display as icon"
  7. Select OK


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2. Enter the sales force Service One ticket that was used to submit the calculation to the service center.

  

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titleI post the control evidence in e-Room

Include Content
pageI post the control evidence in e-Room

 



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