🎯 Purpose

To ensure efficient handling of stock, from ordering through storage and tracking, to maintain optimal inventory levels and minimize costs.

📋 Scope

This SOP is applicable to all departments involved in inventory management, including procurement, warehouse, and sales.

🧑‍💼 Roles and Responsibilities

• Procurement Manager: Responsible for ordering inventory.
• Warehouse Manager: Oversees the storage and maintenance of inventory.
• Inventory Clerks: Conduct regular stock checks and update inventory records.

🗒 Inventory Management Process

📈 Inventory Needs Assessment

• Frequency: Monthly or as required.
• Procedure: Analyze sales data and forecasts to determine inventory needs.

📝 Ordering Inventory

• Table: Inventory Ordering Protocol

  Item	Minimum Stock Level	Reorder Quantity	Preferred Supplier	Lead Time
  Product A	100 units	250 units	Supplier X	2 weeks
  Product B	50 units	100 units	Supplier Y	1 week

• Procedure: When stock levels reach the minimum, initiate an order for the reorder quantity from the preferred supplier.

🏠 Storing Inventory

• Table: Storage Guidelines

  Item	Storage Condition	Shelf Life	Special Handling
  Product A	Cool, dry place	1 year	Handle with care
  Product B	Refrigerated	6 months	Fragile

• Procedure: Store items according to the specific conditions required to ensure quality and longevity.

🔍 Tracking and Auditing Inventory

• Frequency: Weekly for high-turnover items, monthly for others.