Stock Verification and Reconciliation

1.0 OBJECTIVE
To lay down a procedure for “Stock Verification and Reconciliation” of raw material and packing material.
2.0 SCOPE
Raw Material, Packing Material Warehouses, and Solvent Yard.
3.0 RESPONSIBILITY
Officer - Warehouse.
4.0 ACCOUNTABILITY
Assistant Manager - Warehouse.
5.0 PROCEDURE
5.1 Stock verification and reconciliation of all the material in the warehouse is done as below.
5.1.1 Create a Physical Inventory document in SAP with reference to inhouse batch number in all working days & take printout of the same.
5.1.2 Note the physical stock against the SAP stock in the Physical Inventory document.
5.1.3 Post the physical stocks in SAP.
5.1.4 Assess the variance & prepare Excess/Shortage certificate after completion of the stock against that particular in-house batch number as per SOP No:XXXXX.
5.2 The above verification and reconciliation should be done in addition to the perpetual stock verification done during dispensing.
5.3 Stocks of solvents to be verified at the end of every month and for the differences such as evaporation losses and handling losses “Excess /Shortage Certificate” has to be raised as per SOP No.XXXXX.
5.4 Update the stocks in SAP R/3 system as when the Excess /Shortage certificate is authorized & approved.