• Closed warehouse inventory method: is a warehouse having property to be inventoried is closed to receipt and issue actions except emergency actions.
• Open warehouse inventory method: is a warehouse which accepts normal receipt and issue transactions during the course of inventory

Preparatory responsibilities

Inventory control manager will:

1. determine the cut-off date
2. form all concerned departments
3. the nominated inventory supervisors

Each nominated inventory supervisors will:

1. Assign supervisory personnel
2. inform head of concerned to assign inventory counters
3. prepare inventory form.
4. assign serial numbers to each inventory form
5. distribute the inventory forms
6. control the serial numbers
7. determine the inventory method

Preparation of the inventory

Store supervisor, warehouse manager or store keeper will:

• Make plans to all the inventory program
• Determine the number of persons required for each phase of work
• Prepare and distribute a schedule of assignments
• Establish an inventory deadline date for the classes of material
• Consider the opening stock record balance on the inventory deadline date
  to be the balance with which the inventory balance will be compared