Weekly Inventory Management Review ( OPERATIONS )

This checklist is designed to ensure that inventory levels are managed effectively on a weekly basis. It helps to identify discrepancies, analyze stock levels, and plan for upcoming needs.

• Review Current Inventory Levels

  Check the current inventory levels for all products to understand stock status.

• Identify Stock Discrepancies

  Compare physical stock counts with recorded inventory to identify any discrepancies.

• Analyze Inventory Turnover Rates

  Evaluate the turnover rates of different products to determine slow-moving or excess stock.

• Plan for Replenishment Orders

  Decide on necessary purchase orders for items that are low in stock based on usage rates.

• Update Inventory Management System

  Ensure all inventory changes, including sales and new purchases, are accurately reflected in the management system.

• Communicate with Relevant Departments

  Share inventory status and needs with sales and procurement teams to align on future strategies.