Question |
Yes |
No |
| 1. We have and use a computer-based inventory tracking program
that is integrated into our accounting software. |
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|
| 2. We get accurate inventory reports not less than monthly. |
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|
| 3. We track and manage inventory on the basis of turns. |
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| 4. Our inventory turns exceed that of the average competitor
in our business. |
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| 5. Management performance goals include inventory turns in
addition to other financial measures. |
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| 6. We know what our customer service levels are and what
portion is due to inventory. |
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| 7. We understand what our product line contribution margins
are and the role that inventory plays in each product line. |
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| 8. We acknowledge all of the costs of inventory and include
them in our budgeting, planning, and decision making. |
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| 9. Damaged and obsolescent goods are recognized and managed
deliberately. |
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| 10. All sales and customer service personnel have access to
and use the inventory reports. |
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| 11. Inventory tracking is live and integrated with order
entry. |
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| 12. Minimum order quantities are calculated on the basis of
the turns and costs of inventory. |
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| 13. We successfully use just-in-time inventory management
systems. |
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| 14. We know that our total inventory cost is less than 20% per
year. |
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|
| 15. Our inventory storage areas are all well lit, easily
accessible, all storage locations are well marked, and all areas comply with appropriate
safety regulations. |
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| 16. We use bar coding to handle inventory data and inventory
transactions. |
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| 17. We can rely on our vendors to ship what we order. This is
confirmed by spot audits but we do not have to check every receipt. |
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| 18. Our order picking system is accurate. We confirm this with
spot audits and cycle counts but do not have to audit every order. |
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| 19. We do not experience inventory shrinkage due to theft or
damage. |
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| 20. All warehouse and inventory management people are trained
with a safe and effective system. |
|
|
TOTAL NUMBER OF "YES" &
"NO" |
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