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Contol Systems

Controls for Inflows essay Proposal

TOPIC: Design a proposal for appropriate controls to cover inventory, and production.

With at least 2 references.

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Design a proposal for appropriate controls to cover inventory, and production.

The proposal for appropriate controls to cover inventory are as follows. First it is proposed that an annual physical inventory of all raw materials, work-in-progress, finished products, equipment, and machinery should be carried out. It is proposed that each unit of raw materials, work-in-progress, finished products, equipment, and machinery should be identified by the firm's central inventory system. The centralized system must be able to provide the current acquisition cost of each unit. There must be an individual who must be responsible for providing all required information about the inventory.

It is proposed that checks should be in place to ensure that every piece of raw materials, work-in-progress, finished products, equipment, and machinery is included in the inventory. No machinery or capital equipment should be left out. It is proposed that any item that is included twice or more in the inventory should be identified and the overstatement should be removed. If there is any equipment that ceases to be used, it should be removed immediately removed from the inventory. It is proposed, that all such equipment automatically be reported and removed from the ...

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