• Stock Policy
• Stock Records
• Control and Supervision
• Receipt of Stores
• Issue of Stores
• Stock Checks
• Disposal of Stores
• Miscellaneous

Stock Policy

• establish a stock policy
• make the stock policy clearly known to all staff concerned
• establish specific written instructions for compliance
• specify in the policy :
  • the types of items that will be stocked
  • the factors that determine the stock levels
  • the inventory system to be adopted

Stock Records

• maintain a complete and proper record of the items in stock with the following particulars
  • reference and description of each item
  • quantity and location in the store
  • expiration date (if any) of each item
  • date and quantity of each transaction
  • current stock balance for all items
• properly design and complete store vouchers to capture all necessary details of a transaction
• use sequential numbering control to facilitate checking of store vouchers
• properly document and approve cancelled or amended transactions
• securely hold all stock records
• where a computer system is used, restrict the access to it and control it properly
• implement effective information security protocols

Control and Supervision

• maintain adequate division of labour between :
  • issue of goods
  • receipt of goods
  • updating of store inventory record
  • updating of accounting records
• clearly define the duties of an officer in charge of a store and make them known to the staff concerned
• establish a procedure for handing over the management or supervision of a store

Receipt of Stores

• put in place adequate physical safeguards in the goods receipt procedure
• properly document and account for each goods receipt voucher
• establish policies and procedures for handling exceptional matters of goods receipt
• establish written procedures for lodging claims for supply and delivery problems

Issue of Stores

• properly document and account for all delivery vouchers
• issue store items on a "first in - first out" basis
• properly control the issue of goods eg. check the voucher authorisations against a record of specimen authorised signatures

Stock Checks

• conduct regular and surprise stock checks
• establish policies and control procedures to cater for stock discrepancies
• set appropriate limits of authority for writing off any loss or deficiency of stores

Disposal of Stores

• clearly define the items which are to be discarded
• establish proper procedures for disposing of these items

Miscellaneous

• regularly rotate staff members in more sensitive jobs (for example, stores-receiving staff)
• regularly review the physical security of the store
• undertake a corruption risk analysis of stores-related computer systems
• conduct security checks of vehicles entering or leaving the store area