The Resource Department of the Navy: Breakdown of In-Transit Inventory Process Leaves It Vulnerable to Fraud

Department of the Navy: Breakdown of In-Transit Inventory Process Leaves It Vulnerable to Fraud

Label
Department of the Navy: Breakdown of In-Transit Inventory Process Leaves It Vulnerable to Fraud
Title
Department of the Navy: Breakdown of In-Transit Inventory Process Leaves It Vulnerable to Fraud
Contributor
Subject
Language
eng
Summary
NAVSUP administers the Navy supply system and provides in-transit inventory management policies and procedures. NAVSUP, through its NAVICP, initiates purchases and directs inventory movement for its customers. Such inventory includes classified and sensitive items, such as aircraft guided-missile launchers, military night-vision devices, and communications equipment. Until the inventory reaches its intended destination and is reported as received, NAVICP refers to it as in transit. The recipient of the inventory is responsible for notifying NAVICP that it has been received. Such notification is an internal control designed to account for all in-transit assets. If within 45 days of shipment NAVICP has not been notified that a shipment has arrived, it is required to follow up with the intended recipient. The rationale behind this procedure is that until receipt of the inventory is confirmed, the exact status of the shipment is uncertain and therefore vulnerable to fraud, waste, and abuse. Navy policy stipulates that delinquent shipments should be written off as inventory losses if their receipts remain unconfirmed after 6 or ii months, depending on their value. The Navy reported that between October 1995 and September 1998, it wrote off, as lost in transit, inventory valued at over $3 billion. Implementing inventory control is a shared responsibility of NAVICP and shipping and receiving facilities, which include the Defense Logistics Agency and Navy-managed facilities and repair facilities
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
GENERAL ACCOUNTING OFFICE WASHINGTON DC OFFICE OF SPECIAL INVESTIGATIONS
http://library.link/vocab/subjectName
  • Military supplies
  • Logistics management
  • Inventory control
  • Logistics support
  • Naval operations
  • Naval equipment
  • Administration and Management
  • Logistics, Military Facilities and Supplies
Label
Department of the Navy: Breakdown of In-Transit Inventory Process Leaves It Vulnerable to Fraud
Instantiates
Publication
Note
Report to Congressional Requesters
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
12 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227917321
  • (OCoLC)ocn227917321
Label
Department of the Navy: Breakdown of In-Transit Inventory Process Leaves It Vulnerable to Fraud
Publication
Note
Report to Congressional Requesters
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
12 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227917321
  • (OCoLC)ocn227917321

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