Average inventory cost . An inventory valuation method that bases its figure on the average cost of items throughout an accounting period. Average inventory . The average inventory on-hand over a given time period, calculated by adding Ending Inventory (EI) to Beginning Inventory (BI) and dividing by two. Back order (BO) . A.4 Control and recognition of inventory Definition and indicators of control A.4.1. As a general rule, UNFPA controls inventory whenever it has authority to decide what to do with the inventory. The primary indicator of control is legal ownership by UNFPA, i.e. UNFPA holds the legal title to the goods. Stock control procedures and system as well as the affect the economy of an organisation. This programme highlights the importance of managing the stores effectively. Objectives . Inventory Controllers, Store Managers and Officers who are interested to acquire knowledge and skills in controlling the store activities and operations, will find have few of these or wish to control the zero entries more tightly, you may omit this step. It is available as a convenience if you would like to use it. If you want to use this function, go to Inventory, Miscellaneous adjustments, Initialize physical inventory count data You may initialize all items or only certain groups. Stock control policy and procedures Inventory control The store has clearly defined policies and procedures in place and it is the Supervisor's responsibility to ensure inventory control is efficient, as loss of stock and damages result in a loss of profit. The buyer's role Forecast sales and budget orders Keep up-to-date with trends Order merchandise Ensure a variety of merchandise Inventory Control Process Max / Min Inventory Control System •Set minimum and maximum inventory levels for items you want to keep in stock. •When the inventory level for an item drops to the minimum, reorder the item Designate Stocked and non-stock items •Stocked •Items you must always have in stock •Inventory turns justify the principle of effective administration, proper stock holding and control, a high standard of service levels as well as product standardisation and ensuring good quality of products. 6.4 Procedures referred to in 6.2 above must be reviewed on an annual basis and if needed to be amended it must be approved by the City Manager and its Executive The report is used by the warehouse to control outgoing inventory movements, and by the UNHCR office to verify that MSRP has been updated accordingly. Stock Report The Stock Report is a non-standard UNHCR document used to report the inventory position/holding for all inventory items by PO, at warehouse level. in controlling inventory such as stock control.Stock control is very important and effective for any company. Consequently, the functions of stock control are numerous in terms of administrative organization of stock control, results, factors affecting internal administrative . GSJ: Volume 8, Issue 7, July 2020 ISSN 2320-9186 334 GSJ© 2020 Vice President for Operations using reports from the computerized inventory program: A. a beginning inventory value; B. a list of all University owned equipment additions and deletions with a total for each list; C. an ending inventory value. 5. Annually, 3 complete sets of the Univer sity inventory shall be printed in tag number, description, and Section 5: Operating Procedures Effective date: Page 243 Title: Inventory Management 5.45.4.1.2 Prepar