2015 - 2nd Quarter

University of Missouri Physical Inventory Verification

By Jennifer Alexander, Director of Supply Chain Operations

It is time to distribute the Inventory Asset Records to the campuses for validation. This year’s process has changed slightly. By the end of April, inventory lists will be sent to individuals that have been identified as the responsible person noted in the FIN Finance Structure database at either the College/School/Division or Department level, depending on the campus. The list will be sent via E-mails generated from UM PROC Asset Management. All certified equipment lists are to be returned to this same e-mail box. Clear instructions will be provided at the time the lists are distributed.

The Physical Inventory verification process will now be conducted annually instead of semi-annually. We ask that departments notify Supply Chain Surplus Services of property additions, deletions or location changes as they occur throughout the year. Changes should be recorded using the Property Inventory Change Report (UM Form 27) and sent to the UM Surplus Mailbox. Changes to be reported using this form are listed in the attached referenced policy BPM 407 Physical Inventory. Items no longer needed by a department should be disposed of in accordance with policy BPM 308 Resale, Sale, or Disposal. Supply Chain Surplus Services can be notified of items ready for surplus through the use of the on-line Surplus software or by making a request using the UM Form 27 and sending it to UM Surplus Mailbox

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