As a stock controller, what is the best strategy you would follow to maintain stock accuracy with the minimum negative discrepancy?

The best way is to do regular cycle count. Check the issuing & receiving process and also introduce the bar code and RFID to prevent the discrepancy.

The best way is to do regular cycle count. try to review the issuing and the receiving process.   

• The Perpetual / Regular Stock count is advicable.
• You have to issue the stock only against a material issue slip/Goods posting in the system.  
• The material issue  slip should have a column where the balance Qty. is printed , so that the parts picker while picking the requested item, can also check whether these balance  quantities are there on the shelf or not, which is a part of continous stock checking process.
• Weekly stock check should be performed Row/Binwise for possible number of lines

the best way to maintain good stock control is regular counting of stocks and also go through issuing and receiving process . if in case necessary introduce bar code systems .

That's by applying best storage practice, making sure FiFo system is in place. purchasing the right and receiving the correct quantity, maintaining the correct quality by proper stocks handling system, delivering the correct quantity required

Maintaining the stock in SAP would give you 100% stock accuracy.This will clearly show the availability of stock with proper relocation and bar code implementation.

To control receiving and issuing processes by the following;

1.       During receiving process a confirmation of the quantity and their store location should be written on the receiving report.

2.       split the responsibilities, who issue the materials should not record issuing quantity some one else should record it after confirmation of receiving it from the next location or end-user( remain quantity should be written on issuing report to allow system accepting the issuing process).

3.       Regular stock counts should be carried out on items with fast moving items.  

Note each stock system  has its variables and constrains.

daily monitoring of stock level

schedule a inventory day in a every week

always monitor physical stock or system stock

Basic procedure & daily monitoring of stock level (segmentation)

Process consist in accuracy of Receiving, System Accuracy, Depleting of Stock, Inventory Schedule.

Always check before receiving stocks to aware issues also necessary to update the daily inventory.

Basic fundamental to maintain the stock accuracy with minimum negative discrepancy are

1. Accuracy in Posting of Inventory in ERP (Quantity,item code, value) etc

2. Receivables accounts in MGRN / GRN and deliveries " outbound " should be posted in ERP

3. Avoid mixing of non-stock item in physical count

4. Make regular cycle count "or" physical inventory with system report