| SOP for Inventory verification |
| 1.0 OBJECTIVE: 1.1 To lay down the procedure for Inventory verification. 2.0 SCOPE: 2.1 This procedure is applicable for the Inventory verifying in the warehouse. 3.0 RESPONSIBILITY: 3.1 Assistant – Warehouse shall be responsible for inventory verification. 3.2 Officer-Warehouse shall be responsible for compliance the activity of inventory verification. 4.0 ABBREVIATIONS 4.1 SOP : Standard Operating Procedure To Read this SOP click here SOP for Handling Of Retest Materials. 5.0 PROCEDURE: 5.1 Physical Inventory verification is carried out on monthly basis at the end of month. 5.2 Total items of the Inventory of warehouse are classified into the two classes they are “A” and “B” class items. Where A are API & B are excipients. 5.2.1 “A” Class items cover the 70% cost of the total value of the Inventory, which are only 20 % items in number of the Inventory. 5.2.2 “B” Class items 30% cost of total value of the Inventory, which are 80% items in number. 5.2.3 Warehouse personnel shall ensure that 100% “A” class items shall be physically verified with the stock statement at the end of each month. 5.3 “B” Class items shall be physically verified on random basis with stock statement at the end of each month. 5.4 In case of any discrepancy is observed between stock statement and physical stock of the material, the same is adjusted by raising the Materials Write off note, with the explanation for reason of discrepancy. 5.5 Discrepancy is adjusted after due approval of location head. 5.6 Record the monthly / random verification as per Format name: Inventory Verification Record. 5.7 At the financial year closing, 100% items of the inventory shall be physically verified. |
