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What are the reasons for discrepancies in stock items?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

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5 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

The following list highlights some of the most common reasons why business owners see discrepancies in their stocktake numbers. Bear in mind that there are many more reasons, which aren’t necessarily listed here, as causes can vary greatly depending on industry and inventory record keeping methods. Stock loss due to damage Stock is in the incorrect location Human error during stocktake process Stock loss due to theft Stock is labelled with incorrect identification Stock mistaken for similar product

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

The following list highlights some of the most common reasons why business owners see discrepancies in their stocktake numbers. Bear in mind that there are many more reasons, which aren’t necessarily listed here, as causes can vary greatly depending on industry and inventory record keeping methods. Stock loss due to damage Stock is in the incorrect location Human error during stocktake process Stock loss due to theft Stock is labelled with incorrect identification Stock mistaken for similar product Inbound stock not recorded accurately Faulty inventory management software or stocktake equipment Incorrect unit of measurement was counted

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

-- Clerical error in making records -- Pilferage, theft -- Placing of stores in wrong bins -- Careless materials handling -- Short or excess issue due to wrong method or negligence -- Mistake in identifying items.

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Data?1494421730 answered

Dear Friend > Reasons for discrepancies in stock items Avoidable Causes -- Clerical error in making records -- Pilferage, theft -- Placing of stores in wrong bins -- Careless materials handling -- Short or excess issue due to wrong method or negligence -- Mistake in identifying items. Unavoidable Causes -- Evaporation, shrinkage etc -- Loss due to breaking the bulk or cutting to sizes -- Loss on account of fire -- Loss due to approximation Thanks

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

**REASON FOR DISCREPANCIES** Reasons for discrepancies: The possible reasons for discrepancy between physical stock and stock shown in records may be due to the following: • Shortages of marginal due to spoilage, evaporation, wastage in material handling, break- down in handing and storing. Increase in weight due to absorption of water etc. • Items of materials placed in wrong location. • Pilferage and theft from stores by insiders and outsiders. • Issue and receipt of stock without proper recording and maintenance of stores recording and accounting. • Stock return not recorded properly. • Stock ledger to production departments without proper recording stock card and stores ledger. • Arithmetical errors in calculating the balances in bin card. • Clerical errors in stores ledger. • Supplier supplies a different quantity of material than is mentioned in the delivery challan. • Discrepancy due to improper weighing of material. Thanks

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