Specific Commodity Inventory The  specific  commodity  inventory  is  a  physical count  of  all  items  under  the  same  cognizance  symbol, Federal  supply  class,  or  which  support  the  same operational function, such as boat spares, electron tubes, boiler tubes, or fire brick. This type of inventory is performed under the same conditions as a bulkhead to bulkhead   inventory. However,  prior  knowledge  of specific  stock  numbers  and  item  locations  is  required  to perform  a  specific  commodity  inventory. Special Material Inventory A  special  material  inventory  requires  the  physical count  of  all  items  that  are  specifically  selected  for separate identification and inventory control. These items   may   be   selected   because   of   their   physical characteristics,  costs,  mission  essentiality,  criticality,  or other  masons.  Special  material  inventories  include,  but are not limited to, stocked items designated as classified or hazardous. Special material inventories also include controlled  equipage  and  presentation  silver.  Physical inventory  of  such  material  is  required  on  a  scheduled basis  as  precribed  by  the  NAVSUP  P-485. Spot  Inventory A  spot  inventory  is  an  unscheduled  type  of  physical inventory  performed  to  verify  the  existence  of  a  specific stock item. The inventory is performed as the result of a total not in stock (NIS) indication in the issue request when  the  verified  stock  record  for  the  requested  item shows an on-hand balance. A spot inventory also is performed  to  determine  the  on-hand  quantity  of  a particular item when requested by the commanding officer,   a   fleet   or   type   commander,   a   cognizant inventory  manager,  or  other  competent  authority.  For example,  the  commanding  officer  may  request  the physical  inventory  of  any  item  that  he  considers  to  be highly essential to prospective operations. A fleet or type  commander may  need  to  have  total  asset  visibility of a particular critical item, or an inventory, disposition and report of certain items which, after distribution within the supply system, are found to be defective. Velocity  Inventory A  velocity  inventory  is  based  on  the  premise  that inaccuracies  of  stock  record  balances  for  any  item increases  with  issue  frequency.  This  means  that  most of the physical inventory effort should be concentrated on frequently demanded items. A velocity inventory, requires a periodic physical count of all stock items that experience  relatively  frequent  demands  (fast  movers), and a physical count of items that experience infrequent or  no  demands  (slow  movers)  only  when  such  items  are issued.   Periodic   inventories   of   selected   item management (SIM) items and post-issue inventories of non-SIM  items,  respectively,  are  examples  of  velocity inventories. Random Sampling Inventory The  random  sampling  inventory  is  considered  to  be part  of  the  annual  scheduled  inventory  program.  It  is used  only  on  authorized  ships  (automated  special accounting class 207). A random sampling inventory is a measure of the stock record accuracy for a segment of  material  based  on  the  physical  count  of  a  specified number  of  randomly  selected  items  within  the  segment. Guidelines  for  conducting  a  physical  inventory  by  the random sampling method are outlined in the NAVSUP P-485. PHYSICAL  INVENTORY  SCHEDULES Inventory   schedules   outline,   in   chronological sequence, the segments of material planned for physical inventory during a fiscal year. The inventory schedule is   prepared   by   the   supply   officer   prior   to   the commencement  of  each  fiscal  year.  For  stock  material in department custody, the inventory schedule reflects the time frames jointly determined by the supply officer and  the  respective  department  head.  An  example  of  an inventory schedule is shown in figure 7-1. Refer to the NAVSUP P-485 for scheduled inventory requirements. INVENTORY  PERSONNEL The supply officer is responsible for an accurate physical  inventory  of  stock  material  and  controlled equipage in supply department custody. The supply officer  also  provides  advisory  assistance  for  inventories of  material  in  the  custody  of  other  departments. Qualified  personnel  used  for  inventorying  material  in the  supply  department  are  assigned  by  supply department  memorandum.  The  Storekeeper  in  charge of  each  storeroom  is  usually  responsible  for  the inventory  of  material  in  that  storeroom. PREPARATION  FOR  INVENTORY Before  inventory,  all  receipt  and  expenditure documents  concerning  the  material  to  be  inventoried must be collected and posted to the stock record cards. 7-2