Receive Store Stock

7/28/2019 Receive Store Stock

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The Stores Function

Temporary location for materialsneeded for operational purposes.

Obsolete, redundant and surplusstock is simply money sitting on theshelf.

This requires more money for its

custody.

Goods should be stored for theshortest possible time



The Stores function

High demand goods – shortestperiod on shelf

Unpredictable demand- store forlonger periods.

Since stock ties up large sums of money, it is essential to organise

stores so that investment is kept atminimum



Stock Control

Most problems occur

because insufficienttime is given to staff to complete the task.



Store keeping

Procedureswhereby goods arereceived,

identified, stored,issued, accountedfor, andreplenished in

accordance withdefined level of service and OHS.



Stock Control - receipting

Check cartonquantities and signfor delivery.

Only authorizedpersons to sign.

Goods should bechecked for

quantity andquality.

Quality check

marks or faults onproducts.

Label not attachedproperly

Leakage fromcontainers

broken seal

poor condition of packaging.



Receipt of Goods

Perishable goodsshould be taggedwith date received.

Meat should beweighed andtemperaturechecked.

Delivery personnelnot allowed instores.



Receiving goods

Spot check temperatures of goodsdelivered.

Meats 2 - 4o

C Seafood 1- 2o C

Dairy 2 - 4o C

Fruits and vegetables 5 - 7o

C Frozen goods : minus 18 oC



Stock Control

Safe handling and storage isimportant

Minimize accidents and damage tostock.

Minimize loss from deterioration

Rotate stock “first in first out”FIFO



Dating and pricing

Date and mark current purchaseprice of goods.

This helps in stock rotation, FIFO. This routine is time consuming.

Meat is tagged with a two part tag-one is attached and other is passedto cost control department.(helpsestablish better FIFO)



Stock Records

Manual or electronic.

Manual- Inventory or bin cards

All incoming stock is added to totalon hand and reduced as stock used.

Physically counting stock on aregular basis(weekly or monthly)



Stock Records

Electronic

Point of sale linked system to give

immediate information on allaspects of stock.

Some systems are capable of ordering when stock reaches a

minimum level(PAR)



Stock Taking

Verify accuracy of stock records.

Support value shown in books by

physical verification. Disclose possibility of fraud,theft or

loss.

Reveal weakness in system forcustody and control of stock.



Stocktake

Physical stocktake is a true measureof stock on hand and allows anydifferences to be adjusted in thecomputer.

Book stock is the estimated stockon hand without a physical

stocktake. Add purchase to opening stock and

deduct usage



Stock Records

If physical stockfigures are lessthan computer

records than youhave a

If physical stockfigure is more thancomputer records

than you haveexcess- this alsomust beinvestigated.

(May be an orderwas not entered incomputer)



Documentation

Purchase Requisition

Purchase Order

Delivery Docket/Suppliers AdvicePacking note/Consignment note

Invoice

Statement Cheque Requisition



Issuing documentation

Stores requisition

Requirementvoucher

Stores indent

Issue voucher

Stores order

Demand note

Kit marshall note

Picking note

Stores schedule



Inventory item Johnny Walker RL Stock # 4210

Inventory for period 12/6/03 to 12/7/03

Brought forward 15 X 750 ml

Date in Units Unit cost Date out Units Return Units Balance14/06/03 30 9.10$ 0 0 0 45

0 0 15/06/03 5 0 40

0 0 17/06/03 5 1 36

0 0 19/06/03 6 0 3009/07/03 30 9.20$ 0 0 0 60

10/07/03 10 0 50

11/07/03 5 0 45

11/07/03 0 2 47

12/07/03 7 0 40



Par Stock Method

Level of stock needed on hand tomaintain continued supply.

Items needed between ordering. Bars have a certain stock level.

Replace every empty bottle to

maintain the par level. Count on hand and subtract from

par level to establish re-orderfrom stores



Par Stock Method (CONTINUED)

SKU stock keeping unit

UPC universal price code



Elements of stock control

Stocktaking

Ordering

Receiving Internal orders

Returns

Sales



STOCKTAKING

Stocktaking is a process where allstock is physically counted, recordedand valued. This is normally done at

the close of a trading period todetermine trading performance andprofitability. A stocktake can take

place unscheduled as a “spot check” especially when there are problemsin the organization.



Frequency of Stocktakes

Frequent: Daily, weekly, fortnightly

Advantages: pinpoints stock levels, losses

and inefficiencies moreaccurately. Problems can befixed before they get out of hand. Deters theft and wastage.

Disadvantages: Costly, time consuming,inconvenient/disruptive.



Infrequent Stocktakes (monthly,

quarterly, yearly)

The advantages and disadvantages areopposite to those of frequent stocktakes(i.e. less time consuming etc. but

problems compound and are harder toisolate)

Frequency of stocktake depends on the

size, type and turnover of the businessand the advantages and disadvantagesweighed carefully by management.



CONDUCTING A STOCKTAKE

Prepare stock sheets in advance forall storerooms to be assessed

Notify staff of a stock take

Ensure all paper work is up to date

Stock sheets should be numbered

Name of stock takers, date and time

should be on the sheets One person to write, one person to

call out the stock



Procedures for a stock take

full bottles are counted as single unit (1)

opened bottles are counted as tenths( /10)

expensive stock should be estimated

carefully do not jump from place to place in count

stick to a pattern, left to right, top tobottom

if interrupted place marker between stock

check all areas carefully



Procedures for stock take cont.

check stock behind other stock, don’tassume it’s the same stock

call item name before amount i.e. J.W. 2btl

careful with O.P. and U.P rums standardand deluxe brands

avoid distractions, social chats, spectators

beware of confusing unit descriptions and

unit price i.e. cartons, cases, dozens, 2dozen, singles, large, small etc.



Reasons for variances between book

value and physical stock take

Inaccurate recording and receivingissues

Theft Errors in stock taking

Breakages/ discarded items notrecorded

Improper documentation

Poor systems in place



Key areas where security is required

Stores/Inventory – large amount of stock,stationary, linen, cutlery etc

Cash – needed for all operating areas

Premises – damage to property,unauthorised use

Staff/Guests – access to staff only forbusiness, guest details kept confidential,security of rooms and belongings, accessto rooms with permission ie. Maintenance

Equipment- authorised use only



Storage Faults exercise

FAULT CAUSE REMEDY

Damaged bottle label

Leaking bottles

Off keg beer within use bydate

White wine gone fizzy,over carbonated

Dry sherry gone vinegary

Oxidized wine

Out of date liquor

Receive Store Stock

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