FIACCT 08-01_00 Inventory – Inventory Control – Transfer Method Overview

Effective: March 16, 1998
Revised: February 1, 2009
Reviewed: June 1, 2009

Purpose

This policy outlines the Inventory Control policies and procedures for transferring inventory items from the warehouse to the point of issue, and also for moving inventory items from warehouse to warehouse.

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Policy

A. The Transfer Method is used when an item will be transferred from one warehouse to another. Either the Transfer Issue (TI) Process or the Transfer Request (TRQ) Process can be used for obtaining material in this method.

1. TI Process – Used most effectively when material is to be transferred immediately. Works in conjunction with the Transfer Receipt (TR) Process.

2. TRQ Process – Used most effectively when material is ordered in advance. Works in conjunction with the Pick and Issue (PI) Process, the Confirmation Issue (CI) Process, and the Stock Transfer Confirmation (TRC) Process.