SayPro IDENTIFYING AND RECORDING LOSSES

Preventing stock losses is necessary to avoid the cost of being left with large numbers of damaged, obsolete and obsolescent stock, and the costs associated with stock being taken illegally from the premises. Stock losses mean the organisation’s resources are not being used properly. Stock losses waste money. Part of your responsibility may be to report potential and actual stock losses to management.Remember, if a discrepancy in stock numbers is identified it should be investigated.

• Check all calculations to make sure there is no mistake.
• Check all documents such as receipts, issues and delivery and return documents to see if there is a mistake.
• Examine previous stock take results to see if there were any previous discrepancies.

Adjustments may need to be made to inventory records to match the actual stock amounts. Adjustments will be the responsibility of a particular person in your organisation.

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