Inventory Requisition Template | INV101-1

Inventory Requisition Template

The Inventory Requisition Template relates to inventory usage and disposal. Be sure to review inventory requests to ensure completeness, validity, and that the form has the proper approvals. Inventory requests consist of either a completed Sales Order form or a completed INV101-1 INVENTORY REQUISITION form which is required for all internal requests.

Complete the Inventory Requisition form prior to disposal of any inventory item. The purchasing agent is the most logical person to be held responsible for reclamation and salvage disposal, because of the knowledge of materials and how the company uses them. The purchasing agent is familiar with the companies that manufacture or distribute various materials and knowledgeable about the items the company buys and at what cost.

The four main destinations for such material for disposal are:

• reuse by some other segment of the company,
• return to original supplier for restocking,
• sale to used-material dealers or to other users, and
• storage of material yard for usage on another job at a later date.

Inventory Requisition Template Details

Pages: 01
Words: 45
Format: Microsoft Word 2013 (.docx)
Language: English
Manual: Accounting
Category: Inventory & Assets
Procedure: Inventory Control Procedure INV101
Type: Form