Inventory control system

1. AMULYA BAIJU
ROLL NO 05

2. 
INVENTORY SYSTEM
PERPETUAL
 Continual tracking of
inventory
PERIODIC
 Relies on occasional
physical count of the
inventory to determine
the ending inventory
balance and cost of
goods sold
Used to track the quantity of goods

3. 
 Document which records the quantity of material
received by, issued to and remained in stores.
 Bin implies a container or space to keep materials , and
with each bin, a card is placed, that comprises of details of
materials received ,issued and returned.
 At the time of receipt of material the quantity is entered in
the receipt column of the bin card from the material
requisition note(MRN) and on transfer of goods to
various department the entry is made in the issues
column of the card
 There would be less chances of mistakes as entries will be
at the same time as goods are received or issued.
BIN CARD

4. Bin Card
Material Code:
Material Description:
Location:
Unit of Measurement:
date Doc
no.
Maximum Level:
Minimum Level:
Recorder Level:
Received from/issued to receipt issue balance
Verification with SL, date and verified
by

5. 
 It is a quantitative record of inventory maintained by
stores department for every item of material.
 It is a record that shows the overall inventory
position in store.
 Records are kept in more compact manner .
 As records are at one place, it is possible to get the
stock position without going around.
STOCK CONTROL
CARDS

6. 
 It is a ledger account that maintains the record of the
transit of goods in and out, the stores, both in
quantitative and monetary terms.
 It contains receipt, issues, and balance of materials in
monetary values along with their quantity.
 It comprises of an account that keeps record of
quantity, type, rate and amount.
 Understanding stock level helps companies to work
out which products are selling well and what is not.
STORE LEDGER

7. Store Ledger
Material Code:
Bin No:
Material Description:
Location:
Maximum Qty:
Minimum Qty:
Ordering Qty:
date
Receipt Issues Balance
QR
no.
SR no.QTY QTY QTYRATE RATE RATEAMOUNT AMOUNT AMOUNT

8. 
Bin card
 Quantity record of
receipts, issue and
balance of materials in
store
 Recording document
 Storekeepers
responsibility
 Kept inside the stock
room
Store ledger
 A subsidiary ledger
that keeps track of each
and every transaction
relating to materials in
the store
 Accounting document
 Cost accounting
department
 Kept outside the
stockroom

9. 
Bin card
 Entries are posted
when the transaction
takes place
 Interdepartmental
transfer are not shown
 Contains quantitative
details only
 Transactions are
recorded individually
Store ledger
 Entries are posted after
the transaction takes
place
 Interdepartmental
transfer are shown
 Contains quantitative
and monetary details
 Summarised
transactions are
recorded.

10. 
THANK YOU