American Univesity of Beirut

Inventory Control


    Inventory Control

    ​Yearend Inventory: The supply chain office attends and is part of the inventory verification scheduled by comptroller’s office and internal audit department performed on yearly basis at the end of the fiscal year which includes all departments carrying inventory.

    Random inventory: The supply chain office schedules inventory verification performed on regular basis and scheduled according to the ABC classification of the stock, and based on most valued items, and items with high turnover, throughout the fiscal year.

    Specific Inventory: The supply chain office schedules spot checks outside regular schedule performed on suspicious cases and followed by thorough investigation in case of discrepancies.

    Inventory Adjustment

    ​Inventory stock adjustment is the Correction of inventory or stock records to bring them into agreement with the findings of the actual (physical) inventory.

    Supply chain office is the sole entity entitled to perform supplies adjustment transactions and to reconcile stocks with suppliers. 
    Supply chain office should investigate and validate all stock adjustments and initiate the below mentioned  transactions in accordance with the policy of "supply chain stock verification and stock adjustment" Ref #SC003

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