SUBMITTED BY:

RAVI ADITYA

TUSHAR KUMAR

Receipt of Goods:-

A goods receipt is the physical inbound movement of goods or materials into the warehouse. It is a goods movement that is used to post goods received from external vendors or from in-plant production. All goods receipts result in an increase of stock in the warehouse.

The following kinds of goods receipts are considered in the SAP System:

Goods receipt with reference to a purchase order

Goods receipt with reference to a production order

Goods receipt with reference to a delivery

Other goods receipts (without reference)

Issue of Goods:-

A goods issue is defined in WM as a physical outbound movement of goods or materials from the warehouse.

A goods issue is a goods movement that is used to post the internal use of material, the issuing of material and the shipment of goods to a customer. A goods issue results in a decrease of stock in the warehouse.

Issues to a cost centre or project

Material staging for production

Delivery of goods to customers

Stock Report process:-

Stock is a supply of goods kept on hand for sale to customers by a merchant, distributor, manufacture of or pertaining to the stock of a company or corporation. It is also called inventory.

A stock report is a collection of information usually prepared by an analyst or his firm which reviews the quality of an equity issue and its suitabity for various investment goals.

Stock Reconciliation:-

When you run your stock on Balance sheet in an Inventory account such as Asset: Inventory or Asset: Stock on Hand you can check this value of stock against the Stock Value report. This reconciliation process would also be done alongside Accounts Payable and Accounts Receivable reconciliations

Stock Valuation :-

Stock valuation is the method of calculating theoretical values of companies and their stocks. The main use of these methods is to predict future market prices, or more generally, potential market prices, and thus to profit from price movement – stocks that are judged undervalued (with respect to their theoretical value) are bought, while stocks that are judged overvalued are sold, in the expectation that undervalued stocks will, on the whole, rise in value, while overvalued stocks will, on the whole, fall.

S. NO.

Process Stake Holders Job Functionality

1 Receipt of Goods ProcurementStaff

Storekeeper

Receipt notes generation

Inspection, Reporting & Updating

Orders to the storekeeper for him to keep in view delivery to Copy purchase the warehouse.

Witnessing the receiving process Counter-signing the receipt in case of goods ordered in large

quantity or of high-value. Inspection of the goods received against the specification and

quantity shown in the purchase orders Reporting any goods in excess, short delivery or defective goods

to the procurement unit Updating the inventory movement records according to the

certified receipts,with copies sent to the accounting section

2 Issue of Goods StoreSupervisor

Form preparation, making request, justification of request and Updating account records.

Designing a standard form for requests for issue of inventory items.

Raising requests for issue of inventory items using the standard request form by user.

Justification of requests for issue by Supervisor. Issuing stocks on a “first-in first-out” basis Updating the accounting records according to the request forms

duly signed by parties concerned2 Stock Reports Store keeper

& Store Supervisor

Generation of Stock reports

Identification of slow moving, fast moving items

Establish levels of operating stocks based on consumption/rate of usage.

Review of stock level time to time Preparation of weekly and monthly stock balances reports of

each stock item Maintaining monthly stock usage report of each item kept in

the store Review and Report on six monthly basis slow moving items

indicating the last movement date the unit value and total value and liaise with user department

Establishing quantity, lead -time and availability of each item supplied

Keeping a record of all non- stock items received from suppliers, returned to suppliers and issued out to users.

3 Stock Reconciliation

Store Manager

Reconcile stock with vendors or job workers (where raw material is supplied, such as dyeing and printing mills)

physical counting of stock available Vs the system stock taking a written inventory record and comparing it to the actual

goods in the company’s warehouses Reconciliation of damaged goods Verification of returned goods

4 Stock Valuation Accounting Staff

Updating the value of stock at current time Using LIFO, FIFO etc

updating the general ledger verification of print reports to the completeness and accuracy of

the company's stock value Tax reporting.

5 Warehousing/ bar-coding

IT Management

Interface with Warehousing/bar-coding software

Assigning a unique identification number to each fixed asset item.

Maintaining database to keep up-to-date records of all fixed asset items.

Tracking the item and staff handling it. Conducting follow-up action enquiry into any missing items.

6 Ready Stock Reports

Supervisor Generating and allocation of ready stock reports,

Generate report about the ready stocks. Soft/hard allocation of finished goods to specific orders

7 Reservation of Raw Material Stock

Inventory manager

Stock generation Multiple levels of stock allocation depending on the flexibility required by the company.

Prioritize raw materials based on delivery dates, customers etc.