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Scrap Policy - Guidelines

The document outlines the definition, identification, condemnation, valuation, and disposal processes for scrap items within a company. It emphasizes the need for formal procedures, including regular inventory checks, approval from authorities, and compliance with environmental regulations. Additionally, it highlights the importance of documentation and auditing to ensure proper management of scrap materials.

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458 views1 page

Scrap Policy - Guidelines

The document outlines the definition, identification, condemnation, valuation, and disposal processes for scrap items within a company. It emphasizes the need for formal procedures, including regular inventory checks, approval from authorities, and compliance with environmental regulations. Additionally, it highlights the importance of documentation and auditing to ensure proper management of scrap materials.

Uploaded by

riujobs
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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 Definition of scrap:

Example: items beyond repair, obsolete technology / or nearing the end of their useful life.
Non-Use items

 Identification process:

Procedures for identifying scrap:

1 - Item of daily use that has scrappaged value i.e. old ideal equipment / furniture / items of
daily consumption within the office to be identified via regular inventory checks and
employee reporting.

 Condemnation process:

A formal process for declaring equipment as scrap, often requiring approval from designated
authorities within the company.

 Valuation method:

Guidelines for determining the scrap value of items, potentially using market rates or
consulting with authorized scrap dealers.

 Disposal method:

 Authorized vendors: Listing approved scrap dealers who comply with environmental
regulations.

 E-auction: Option to auction scrap items for maximum value.

 Segregation: Proper sorting of different types of scrap materials for efficient


recycling.

 Documentation:

 Scrap disposal forms: Standardized forms to record details of scrapped items,


including description, condition, and disposal method.

 Auditing procedures: Regular review of scrap disposal practices to ensure


compliance.

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