Inventory Procedures

Question 1

What are the differences between the various types of inventories?

Answer 1

Spot: One-time physical inventory of selected items, outside of the scheduled physical inventory.

Cyclic: A recurring program of physical inventories to ensure all assets are physically inventoried over a prescribed period of time; i.e. monthly or quarterly.

Annual: Wall-to-wall inventory of the entirety of the unit’s accountable assets.

Question 2

What are the procedures for executing the inventory of on-hand items?

Answer 2

1. Ensure all transactions that affect the on-hand balances have been processed.
2. Freeze the account.
3. Create a spreadsheet to assist in accounting for all equipment.
4. Include the Individual Issue Forms (IIF)
5. Include temp loans
6. Prepare the warehouse
7. Conduct the inventory….

Question 3

What reference details when and under what circumstances causative research will be conducted coinciding with a physical inventory?

Answer 3

MCO 440.150 Consumer Level Supply Policy

Question 4

What is the purpose of the Material Transaction Listing?

Answer 4

It provides a record of all transactions that were processed for the duration of the time the account has been active in GCSS-MC.

Question 5

When should the adjustment transactions for the inventory be inducted?

Answer 5

Adjustment transactions will be inducted on an as-occurring basis once directed by the Commanding Officer.

Question 6

What are the minimum points that must be addressed to the commanding Officer upon completion of the annual inventory.

Answer 6

1. The dollar value of the account prior to inventory.
2. The total dollar value and percentage of net losses/gains (compared to initial account value).
3. Total dollar value and percentage of net losses/gains attributed to administrative errors.
4. Total dollar value and percentage of losses/gains resulting from recommended adjustments due to non-conclusive causative research.
5. Dollar value and percentage changed of the account after inventory.
6. Make gain/loss recommendations resulting from non-conclusive causative research.
7. State opinions, if any, as to the cause of variances for which causative research was non-conclusive.
8. State any corrective action required or initiated to eliminate future variances.
9. include as an enclosure, the NAVMC 11869 to identify the appointed individuals.

Question 7

Which weapons/weapon systems are reportable to the Naval Surface Warfare Center?

Answer 7

• Rifles
• Pistols
• Revolvers
• Line-throwing Guns
• Shotguns
• Machineguns
• Sub machineguns
• Pyrotechnic Pistols
• Flamethrowers
• Cannons up to and including 30mm
• Grenade Launchers
• Single or multi-shot portable rocket launchers
• all other hand or shoulder-fired weapons up to .65 caliber, including historical weapons

Question 8

What is the process to report immediate changes for Serialized Small Arms?

Answer 8

All changes must be reported within 48 hours. Changes will be reported by serial number. A copy of the 1348 and shipping invoice will be submitted to the Naval Surface Warfare Center, Crane, Indiana.

Question 9

What documents will be used to reconcile variances identified by the Inventorying Officer for an Monthly Serialized Inventory (MSI)?

Answer 9

All sub-custody records, Crane Reports, Ingoing and Outgoing records of shipment, and past monthly serialized inventories.

Question 10

What is the name of the activity to which all serialized small arms reports are submitted?

Answer 10

Naval Surface Warfare Center (NSWC) Crane, IN

Question 11

What is the timeframe required to submit the Annual Crane Report?

Answer 11

45 days

Question 12

Who is responsible for signing the annual Crane Report

Answer 12

The Commanding Officer/Accountable Officer