Inventory

Policy

FIACCT 08-02_01 Inventory – Direct Charge – Over the Counter (OC) 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 Over the Counter (OC) Process.

Background

The OC transaction is used when items are needed immediately and there is not time to use a Stock Requisition (SRQ) transaction. Items not in stock will not be backordered. Items not available can be ordered using an SRQ Transaction. If there is insufficient quantity available on FINET when the OC transaction is processed, the whole transaction is rejected instead of back ordering those items with insufficient quantity. By using the OC transaction, it is possible for the customer to obtain the item and bypass the usual pick, issue, and back ordering processes.

Policy

Consumers use OC transactions under the following conditions:

Š When the product will be expensed immediately.
Š When consumers are unable to anticipate need.
Š When there is insufficient time to order in advance using an SRQ or TRQ Transaction.

Procedures

Responsibility

Action

Consumer

  1. Determine that the desired item meets the following criteria:
    Š The material is needed immediately.
    Š The material is available from their distributing warehouse. (This can be accomplished by reviewing the commodity listing provided or by contacting the distributing warehouse.)
  2. Complete an OC transaction form with the necessary commodity codes, accounting information, and signatures. Forward to the distributing warehouse.

Warehouse Personnel

  1. Review the OC transaction for complete information, and appropriate signature.
  2. Fill the order for items available.
  3. Enter an SRQ transaction or a TRQ transaction for items not available, if the consumer wants to order them.
  4. Pick items available, distribute to consumer, and complete the OC transaction in FINET.

Consumer

Sign the OC transaction form signifying items requested were received.

Warehouse Personnel

Send the OC transaction form to Inventory Control for filing.

Inventory Control

File the OC transaction in a daily transaction file.

Consumer

Verify output on the OC transaction in FINET as necessary.

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