Standard Practice for Inventory by Exception (IBE)

Importancia y uso:

5.1 Asset verification is conducted to assess the accuracy of asset records and verify information regarding the asset.

5.2 Before considering a physical inventory method, take into account the current policies and procedures of your entity. Questions such as what items must be inventoried, how often inventories need to occur, and why are we conducting an inventory are important to support these policies.

5.3 IBE decreases the time required to conduct an inventory, especially as operational and asset management systems achieve a greater level of integration.

5.4 The procedures and plans for an IBE must be documented and approved in accordance with Practice E2132.

5.5 IBE allows the physical inventory process to only focus on locating assets that were not touched or physically inventoried.

5.6 IBE decreases the number of assets requiring an inventory reconciliation during a specific cycle. This can greatly increase the productivity of staff who are tasked with performing a physical inventory.

Subcomité:

E53.01

Volúmen:

04.12

Número ICS:

03.100.01 (Company organization and management in general)

Palabras clave:

asset; EAV; electronic asset verification; electronic inventory; IBE; inventory; inventory by exception; physical inventory; ping;