Appended below is a small checklist to assess the quality of your stock management.
The questions are outlined in different perspective/areas.
If you score yourself somewhere close to 100%, then rate yourself A+ class on managing your inventory.
Knowledge, Systems & Policy/Procedures:
- Do you know the stock turn for all major items of inventory.?
- Have you applied ABC methodology on stocks? Continue reading Test Your Knowledge On Inventory Management?
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four, Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.
Also author to another very popular free educational accounting cum finance blog: http://basiccollegeaccounting.com under the branding of College Accounting Coach.
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