Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exhibit 1 Smart Controls Policy and Procedures Special Raw Materials Inventory Policy and Procedures Special Raw Materials Inventory Purchase of Special Raw Materials Inventogy .
Exhibit 1 Smart Controls Policy and Procedures Special Raw Materials Inventory Policy and Procedures Special Raw Materials Inventory Purchase of Special Raw Materials Inventogy . The Accounts Payable department is responsible for ordering all special raw materials inventory. . Only the Cage Supervisor can send a parts requisition to the Accounts Payable Department for ordering. a An Accounts Payable clerk prepared a purchase order for the predetermined reorder quantity for each item and mails the purchase order to the vendor from whom the item was last purchased. o Only the Case Supervisor is allowed to select a new vendor. When a new vendor is selected, the Supervisor sends an e-mail to the Accounts Payable department to request the vendor be added to the system. Receipt of Special Raw Materials Inventogy o Upon receipt of the ordered materials, a Cage Clerk must count the goods received and agree to the count on the shipper's bill of Iading. o The Cage Clerk must initial and date all bills of Iading of materials received. 0 All bills of Iading must be stored in the cage. Storage of Special Raw Materials Inventogy o All special raw materials must be stored in the cage at all times unless they have been moved into production. The case must be locked at all times. All cage employees must be bonded. No other employees are allowed into the cage and only case personnel may possess a key to access the cage. 0 Cage Clerks must perform monthly inventory counts. These must be done under the direct supervision of the Cage Supervisor. Transfer of Special Raw Materials Inventou to Production 0 Cage employees will only release special raw materials inventory upon written or oral requests from a Production Foreman
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started