1 / 11

Property Management Workshop Physical Inventory ~ Outline

Property Management Workshop Physical Inventory ~ Outline. Outline [to understand and discuss]:. Definition of Physical Inventory P urpose and Impact of inventory management Types of inventory Appropriate inventory methods/frequency for various accountable property assets.

arin
Download Presentation

Property Management Workshop Physical Inventory ~ Outline

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Property Management Workshop Physical Inventory ~ Outline Outline [to understand and discuss]: • Definition of Physical Inventory • Purpose and Impact of inventory management • Types of inventory • Appropriate inventory methods/frequency for various accountable property assets. • Questions and Contacts MA-653 May 2013

  2. Property Management Workshop Definition of Physical Inventory • Physical Inventory • The verification of the existence, location, and quantity of property items; the physical count of items of stock in storage or in use for the purpose of verifying the actual balance on the master records; the method by which we test the accuracy of our records. MA-653 May 2013

  3. Property Management Workshop Purpose and Impact of Inventory Management • The purpose of inventory management to establish and continually improve the inventory accuracy and accountability of property in the custody of Federal agencies and contractors. • The success of the physical inventory program has direct impact on: • property availability • accurate and timely procurement actions • overall supply effectiveness. MA-653 May 2013

  4. Property Management Workshop Purpose and Impact of Inventory Management (cont) • Physical inventories serve to continuously monitor: • property condition • operational availability • validate accountable property record accuracy. • The scheduling, type, method, and scope of the physical inventory process is to align with management expectations and risks. • “Need to know what you have and where you have it.” MA-653 May 2013

  5. Property Management Workshop Purpose and Impact of Inventory Management (cont) • All Government property is to be accounted for from inception through formal disposition processing and release from the agency’s formal property records, but certain categories of property require a more deliberate and methodical approach to inventory control and accountability…. • Sensitive Property and Precious Metals • High-Risk Personal Property • Firearms • Capital Equipment • Special Test Equipment MA-653 May 2013

  6. Property Management Workshop Physical Inventory – Types • Cyclic inventory • scheduled physical inventory which is to be conducted on a group of items within a specific period of time according to an established plan. • Special inventory • scheduled physical inventory of selected items of property for a specific purpose deemed appropriate by the agency. • Spot inventory • unscheduled physical inventory conducted to determine the accuracy of agency records. • Selected item inventory • unscheduled physical inventory of in-use property or otherwise identified item, when accountable records reflect a zero balance. MA-653 May 2013

  7. Property Management Workshop Types of Physical Inventory Methods • There are various types of physical inventory methods such as : • wall-to-wall • sampling • Sampling may be used provided statistically valid results are achieved • “by exception” • Use of actions or transactions as demonstration of an inventory event: • This inventory method is appropriate/best, such as : • Utilization/maintenance actions, move tickets/orders, transfer records—all can qualify as a “touch” • Events such as building closures, remodeling events, organizational relocations • With Software management system that routinely "ping" computers (or other equipment) on a network MA-653 May 2013

  8. Property Management Workshop • Appropriate inventory methods/frequency for various accountable property assets. • Are wall-to-wall inventories required for sensitive property, precious metals and HRPP? • Yes….however there could be reasons that the property cannot or need not be physically touched, such as: • Is the property contaminated? • Is the property in a classified area? • Are there safety conditions to consider? • Is the property unavailable due to a project/research? • Is adequately covered by internal controls (such as software pings) MA-653 May 2013

  9. Property Management Workshop • Appropriate inventory methods/frequency for various accountable property assets. MA-653 May 2013

  10. Property Management Workshop • DOE Accountable Personal Property • Physical Inventory • Office of Property Management/Personal Property Policy Division MA-653 • Mert Williams (202) 287-1593 • meredith.williams@hq.doe.gov • EM Consolidated Business Center/Office of Technical Support and Asset Management • Ken Lewis (513) 246-0592 • ken.lewis@emcbc.doe.gov • Defense Contract Management Agency (DCMA) • Deputy Director Government Property • Tom Ruckdaschel 804-734-0505 • Tom.Ruckdaschel@dcma.mil MA-653 May 2013

  11. Property Management WorkshopInventory of DOE Accountable Personal Property Inventory Questions? MA-653 May 2013

More Related