explain the purpose, procedures & related documentation required of
1. initial ordering and...

Question

explain the purpose, procedures & related documentation required of
1. initial ordering and purchase
2. inspection of materials
3. storage
4. stock control
5. stock valuation of materials issued from stores to production
6. physical stock-taking

David · Accepted Answer

explain the purpose, procedures & related documentation required of 1. initial ordering 
and purchase 2. inspection of materials 3. storage 4. stock control 5. stock valuation of 
materials issued from stores to production 6. physical stock-taking. 
Solution:- 
Initial ordering and Purchase:- 
Purpose, The main purpose of initial ordering and purchase is to communicate the intention of 
buyer to seller which means the terms and conditions of the contract in regard to purchases to be 
made. 
Procedure, Store issues purchase requisition slip authorized by the head of the department to the 
purchasing department, and after that purchase department places order to suppliers. 
Documentation, the documents involved in initial ordering and purchase order are Purchase 
Requisition slip and Purchase order. 
Inspection of material:- 
Purpose, is to verify the quality and quantity of the products ordered. Inspection of purchased 
material is usually undertaken at the time of its receipt. 
Procedure,

explain the purpose, procedures & related documentation required of 1. initial ordering and purchase 2. inspection of materials 3. storage 4. stock control 5. stock valuation of materials issued from...

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