SPPM Flashcards
For OM&S inventories, when must the waiver request be submitted?
Within the first four weeks of the physical inventory cycle.
What are the objectives of a physical inventory?
- Ensure on-hand quantities match inventory record entries.
- Identify inventory deficiencies.
- Ensure material is correctly identified, properly stored and in good condition.
- Update location, price and other management data.
- Identify items that need to be repaired, replaced or acquired.
How many basic physical inventory elements are there?
7
What are the basic physical inventory elements?
- Planning and Scheduling
- Preparation
- Conducting the physical count
- Reconciling accountability inventory record variances to physical count quantities.
- Researching discrepancies and identifying causes for adjustments (root cause analysis).
- Ensuring required reports are created and results reported.
- Ensuring accurate and complete documentation is placed on file.
What are the different types of physical inventories?
- Statistical Random Sample
- Spot Count
- Wall-to-Wall (WTW)
- Post Wall-to-Wall (PWTW)
What is a Post Wall-to-Wall inventory?
A statistical random sample conducted after a wall-to-wall inventory to verify effectiveness of the WTW inventory.
Who has the responsibility of for conducting the physical inventory of OM&S at the unit?
The PICO (Physical Inventory Control Officer
How long do OM&S physical inventory records need to be kept?
Three years plus current.
Who generates the physical inventory report for PICO approval?
The RA
Once the OM&S inventory starts with Prep phase, the unit shall complete through the Reconciliation phase within _______.
15 days
Units shall report results within _______ of completing inventory or by the _______, whichever comes first.
15 days, end of the second month of each quarter
In a Statistical sample of total number of stocked items of 3,200-10,000 how many discrepancies are you allowed?
11
In a Statistical sample of total number of stocked items of 251-500 how many discrepancies are you allowed?
2
In a Statistical sample of total number of stocked items of 1-150 how many discrepancies are you allowed?
1
In a Statistical sample of total number of stocked items of 151-280 how many discrepancies are you allowed?
1
Who is responsible for generating reports for the OM&S inventory process?
PICO