SOP on Record Keeping of Materials in Stores

SOP on Record Keeping of Materials in Stores
1.0 Purpose: This SOP describes the requirements for records to be maintained for storage of materials in stores.
2.0 Scope: This SOP applies to all personnel working in the stores.
3.0 Responsibility:  Senior Production Chemist to ensure that the procedure is followed.
4.0 Materials and Equipment: As required
5.0 Procedure: 
5.01 The records for materials are maintained properly and efficiently. Up-to-date stores records help in determining the quantity of respective material item on particular point of time which provides guidelines for fresh purchase or disposal of materials, valuation of stock on any particular point of time representing asset value locked up in stores items and provide basis for charging various jobs. 
5.02Stores records are maintained in the form of stores ledger. The stores ledger specifies account number, location, description of materials, unit measurements, debit, credit and balance columns under description of receipt, issue and balance specifying quantity.
5.03When store-keeper issue materials to any department or job against material requisition, a copy of material requisition is sent to stores and after issue of materials he makes an entry in stores ledger and calculate a new balance quantity and enter in the balance quantity column.