Question

What inventory requires the signature of the PIC?

1) Raw materials
2) Finished goods
3) Work in progress
4) All of the above

Answer 1

The signature of the PIC is required for high-value items, dangerous or hazardous items, and restricted or controlled items.

Step-by-step explanation:

In a business context, PIC stands for Person in Charge, and the signature of the PIC is often required for certain inventory items. There are several types of inventory that may require the signature of the PIC:

• High-value items: These are items that have a high monetary value or are considered to be of high importance. Since they are more prone to theft or mishandling, the signature of the PIC is required to ensure accountability and proper handling.
• Dangerous or hazardous items: Certain inventory items, such as chemicals, explosives, or radioactive materials, pose potential risks to health and safety. Therefore, the signature of the PIC is necessary to ensure that these items are handled and stored properly.
• Restricted or controlled items: Some inventory items, such as prescription medications, alcohol, or firearms, are subject to legal regulations or company policies. The signature of the PIC is required to ensure compliance with these regulations and policies.

By requiring the signature of the PIC, businesses can maintain a higher level of control and accountability over valuable, dangerous, or restricted inventory items.