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A) RECEIVING OF ITEMS

POLICY

6.1 Key policies pertaining to receiving of inventory items are summarized below:
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• Maintaining adequate stock of consumables (e.g. stationery, files, registers, toners, etc.) for various functions of AL-IKHWAN GROUP is the responsibility of the Head of Admin Function at Head Office and District Manager at District Office.
• Stock levels for various items are determined by the management.
• Purchase requisition slip is prepared for the procurement of the items duly approved by the Head of Admin Function or District Manager as the case may be.
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PROCEDURE

6.2 The Purchase requisition is prepared for the items which have touched their re-order levels. The signed requisition is forwarded to the competent authority for approval. The approved requisition is forwarded to the purchase function for procurement. The specifications of items received from the purchase function are checked with the purchase requisition. The receipt of material is acknowledged by signing the invoice and the stock register is updated accordingly. The invoice is returned to the purchase function for payment. The specific steps involved in handling the maintenance and replenishing of stock items are given below:
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Responsibility/Action

Stores Function

Marks items that have touched their re-order levels to replenish their stock.

Prepares Purchase requisition slip and forwards it to Head of Admin Function or District Manager as the case may be, for signature.

Head of Admin Function or District Manager

Signs the requisition and gets it approved from the competent authority. The approved requisition is sent to the Purchase Function for procurement.
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Receives the items requisitioned from the supplier(s) alongwith the invoice. Checks the specifications of the items requisitioned with the requisition slip. Returns the faulty or defective items to the supplier(s) for replacement under intimation to Head of Administration.

Acknowledges the receipt of the items by signing the invoice and returns it to the Purchase Function for payment. Retains the requisition slip for updating the stock register.

Stores Function

Enters the receipt of items in the Stock Register to update the stock position accordingly.
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SPECIMEN REPORTS/DOCUMENTS

1.  Purchase Requisition Admin – 23
2.  Stock Register Admin – 24
3.  Goods Receipt Note Admin – 24A
 Register  Statement/Report  Document
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