FIACCT 08-01_03 Inventory – Inventory Control – Stock Transfer Issue (TI) Process

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

Purpose

This policy describes the inventory control policies and procedures for performing the Stock Transfer Issue (TI) Process. The TI process to allow a consumer to transfer stock items from one warehouse to another.

Background

The TI header indicates the issuing and receiving warehouses, who the items were issued by, the issue date, and the expected delivery date. The item lines detail the stock item and quantity to be transferred. There are no accounting lines on this transaction. Modifications can be made to the TI as long as items that have been reserved for transfer have not yet been fully received.

Policy

The verification and validation of TI transactions will be performed at each of the warehouses.

Procedures

Responsibility

Action

Warehouse Personnel

1. Pick from the shelf the current issue quantities that are represented on the TI. If there are differences between the shelf and the transaction, note the difference manually under the current issue column of the report.

2. Prepare the items for pickup or delivery.

Consumer

3. Verify from the TI ticket the quantity issued is the quantity received. If there are discrepancies, have the warehouse personnel note the changes manually on the TI transaction.

4. Sign the TI ticket, give it to the warehouse personnel, and leave the warehouse with the materials.