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transfer of accountability from one ships store
officer to another or the transfer of responsibility
from one custodian to another.
DEFINITION AND PURPOSE
Physical inventory includes the processes of
identifying, counting, and evaluating all stock on
hand at a specific time. In a ships store,
authorized personnel must take a physical in-
ventory to reestablish accountability y for the ships
store officer, outlet operators, and bulk storeroom
custodians. Physical inventories also function to
transfer accountability and responsibility when the
ships store officer is relieved. Inventories are a
management tool that ships store managers can
use to determine the following information:
1. The dollar value of stock on hand so that
the financial reports can be prepared
2. The accuracy of the stock records so that
any differences that may exist between the stock
records and the stock on hand can be adjusted
3. The dollar value of any stock shortage that
has resulted from spoilage, damage, waste,
pilferage, or other losses that are not reflected on
stock records
4. Areas of stock shortage or overage so that
liability can be ascertained
5. Better ways in which proper stock control
can be maintained
Inventories are a prerequisite to closeout of
the ships store records. When you are closing out
the Ships Store Afloat Financial Control Record
(NAVSUP 235), you must be able to determine
the value of the items on hand before you can
determine any shortage or overage for retail
operators. You must also know the stock on hand
to determine the amount of profits from the
fountain and vending machine operations. You
can determine the cost value of all retail sales from
the Journal of Expenditures (NAVSUP 978) only
after you have posted the cost value of all items
aboard. The quantity of each item sold is com-
puted on the Stock Record (NAVSUP 464) cards
only after the posting of the inventory. Inventory
figures are the opening entries on the Journal of
Receipts (NAVSUP 977), the Ships Store Afloat
Financial Control Record (NAVSUP 235), and
the Stock Record (NAVSUP 464) cards.
Inventories help in stock control. They enable
you to determine whether you are overstocked or
understocked with individual items or with
particular categories of stock. Thus, inventories
aid you in determining new stock requirements
and serve to notify sales division personnel when
markdowns or surveys (to rid the store of old or
excess stock) should be made.
PREPARATION FOR INVENTORY
As a leading Ships Serviceman, you can
facilitate the efficiency of an inventory by
ensuring that certain preparations are taken before
the actual day of the inventory.
Inventory Teams
In the preparation for an inventory, one of
the first tasks is the assignment of personnel to
inventory teams. It is the ships store officers
responsibility to acquire and maintain a complete
and accurate inventory. To accomplish this
objective, the ships store officer should conduct
a two-count system. A minimum of two inventory
teams is required for a two-count system.
Normally, inventory teams will be composed of
two persons. If personnel are not available,
however, an inventory team can be composed of
only one person. Remember, the office records-
keepers cannot be assigned to inventory teams at
any time. The teams should be composed as
follows:
1. First-count teamEither the ships store
officer, the designated officer assistant, or other
commissioned officer, and one enlisted member
2. Second-count teamA senior enlisted
person in the supply rating (E-6 or above) and one
other enlisted person
With a letter of approval from your type com-
mander, a qualified senior enlisted member (E-6
or above) in a supply rating can be authorized to
conduct the monthly inventories. Details for this
type of assignment are outlined in your NAVSUP
P-487.
Inventory Sheets
For a ships store inventory, you must use the
Inventory Count Sheet (NAVSUP 238). This
document should be prepared in advance in
quadruplicate. Each set of count sheets should
consist of four copies that are color-coded in white
(original), yellow, pink, and blue, respectively.
The ships store officer must serialize the count
sheets before their distribution to the inventory
team.
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