SAP for Procurement of Inventory Management

SOP Guidelines For Inventory Management

The Standard Operating Procedure (SOP) discusses definitions, policies, procedures and key controls relating to Stores Function.

The SOP should covers procedures starting from the receipt of material (after they have been procured) till the time they are issued from stores. The Stores Department handles the following kind of materials:

  • Raw Materials (including chemicals)
  • Electrical and Mechanical Spares
  • Consumables
  • Tools and Implements
  • Miscellaneous
The Stores Department is engaged in the following activities:

  • Indenting of Material (Refer Purchase & Payable SOP)
  • Receipt of Material
  • Issue of Material
  • Storage & Handling
  • Security of Stores
  • Other Inventory Management activities 

Changes to the SOP are made through a change control form. The change control form is to be initiated by the User Department. The changes to be made and the reference of the same in relevant section of the SOP are to be detailed in the form.

Managing Director will review the Form, the need for the change and will approve/ disapprove the form. Approved changes shall be incorporated by the Head Stores under the supervision of VP - Finance & Accounts. 


Existing Policy/ Procedure

Proposed Change in Policy/ Procedure

Reason for Change

Initiated By & Date

Approved By & Date

Page Reference


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