Research On The Internal Control Of X Company's Inventory

Manufacturing plays an important role in a country's economic development.In recent years,with a complex and changeable economic environment at home and abroad,the development of the manufacturing industry is also facing a more severe situation.The orders of enterprises are gradually decreasing,which immediately exposes the problems of chaotic purchasing,low-level inventory management,high proportion of the inventory-occupied assets and the low inventory turnover rate,etc.Lead to the increase in the company's operating costs,affecting the company's development.Inventory is a key component of the tangible assets of manufacturing enterprises,and internal control of inventory is a key link in the internal control of manufacturing enterprises.Therefore,optimizing the internal control mechanism of enterprise inventory and ensuring the efficient use of internal funds are the most important to promote the healthy and sound development of enterprises.In this paper,Company X's inventory internal control is taken as the object of the case study.First of all,through the methods of questionnaire survey and field investigation,Company X makes a concrete analysis of its inventory internal control from five stages,including the material purchase of the inventory,acceptance and warehousing,storage management,inventory accounting and outbound use,and finds out the problems in each stage.In the material purchasing process,the demand budget is inaccurate,the purchase being high in price and low in quality,the authorization approval method being unreasonable.In the process of the acceptance and warehousing,the acceptance and warehousing procedures are inadequate and the professional ability of the quality inspector is insufficient.In the storage management stage,the storage management is not perfect and the storage condition is poor.In the inventory accounting stage,the inventory checking focuses on quantity rather than quality,and the inventory accounting is not timely.In the outbound use stage,the outbound management is not standard,while the supervision and examination are insufficient.Then,from the perspective of the five elements of the internal control,it analyzes the root causes of the problems,draws lessons from the advanced theoretical research at home and abroad as well as the experiences of other enterprises in the internal inventory control,and puts forward specific countermeasures and suggestions for problems in each stage on the basis of Company X's original inventory internal control system.Specifically include: In the procurement of materials,ABC classification method is used to rationalize the demand budget,establish the evaluation standards of suppliers,and reset the authorities of authorization and approval.In the process of the acceptance and warehousing,the procedures are to be optimized and the professional ability of the quality inspector is to be improved.In the process of the warehouse management,the process of the warehouse management is to be optimized,inventories being marked by different categories,and the storage condition being improved.In the process of the inventory accounting,the quantity and quality of the inventory should be paid equal attention to,while the provision for the inventory depreciation should be made,and the inventory accounting should be carried out in time.In the delivery stage,the supervision and management of the inventory delivery should be strengthened.At last,it puts forward a series of supporting safeguard measures which are beneficial to the implementation of the inventory internal control,such as improving the inventory internal control environment,strengthening the risk awareness of the internal inventory control,establishing and perfecting the information system of the inventory internal control,perfecting the supervision and performance evaluation system of the inventory internal control system,etc.,hoping to effectively improve the current status of the inventory internal control of Company X,reduce the inventory cost and realize the maximum value of Company X.