Inventory Management:
Practices of Selected Private Sector Companies
NSIAD-88-143BR: Published: Jul 11, 1988. Publicly Released: Sep 8, 1988.
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In response to a congressional request, GAO reviewed private sector inventory management practices to determine whether the Department of Defense (DOD) could apply these practices to its inventories.
GAO found that: (1) top private sector managers significantly lowered their inventories and maintained them at the lowest possible level consistent with their operations; (2) many companies use just-in-time concepts and deliver parts as they are needed to improve inventory flow; (3) integration of accounting and inventory stock systems improved record accuracy and sound internal controls increased inventory record reliability; (4) some companies had computerized inventory systems that automatically generated reorders without human intervention; and (5) most companies monitored the performance and productivity of individuals and groups within the company as well as the performance of vendors and carriers. GAO also found that: (1) DOD could improve inventory management by using private sector concepts and procedures; (2) the basic difference in inventory management between the private sector and DOD is that the military services hold inventory to support missions with no-fail objectives; and (3) since DOD encouraged the services to utilize the inventory management expertise available in the private sector, the Navy has identified 33 methods to improve its inventory practices.
Dec 15, 2020
The Nation's Fiscal Health:
Information on the Spending and Revenue Implications of Potential Debt TargetsGAO-21-211: Published: Dec 15, 2020. Publicly Released: Dec 15, 2020.
Oct 7, 2020
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The Nation's Fiscal Health:
A Long-Term Plan Is Needed for Fiscal SustainabilityGAO-21-161T: Published: Oct 7, 2020. Publicly Released: Oct 7, 2020.
Sep 23, 2020
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The Nation's Fiscal Health:
Effective Use of Fiscal Rules and TargetsGAO-20-561: Published: Sep 23, 2020. Publicly Released: Sep 23, 2020.
Jan 23, 2020
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Federal Trust Funds and Other Dedicated Funds:
Fiscal Sustainability Is a Growing Concern for Some Key FundsGAO-20-156: Published: Jan 16, 2020. Publicly Released: Jan 23, 2020.
Dec 19, 2019
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State and Local Governments' Fiscal Outlook:
2019 UpdateGAO-20-269SP: Published: Dec 19, 2019. Publicly Released: Dec 19, 2019.
Nov 14, 2019
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Certificated Expenditures:
Executive Office of the President FY 2018 Certificated Expenditures Were Spent for Authorized PurposesGAO-20-139R: Published: Nov 14, 2019. Publicly Released: Nov 14, 2019.
Oct 16, 2019
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Civilian Personnel:
Additional Guidance and Consistent Data Reporting Could Help Improve the Marine Corps' Budget ManagementGAO-20-148: Published: Oct 16, 2019. Publicly Released: Oct 16, 2019.
Jun 26, 2019
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The Nation's Fiscal Health:
Actions Needed to Achieve Long-Term Fiscal SustainabilityGAO-19-611T: Published: Jun 26, 2019. Publicly Released: Jun 26, 2019.
Apr 10, 2019
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The Nation's Fiscal Health:
Action Is Needed to Address the Federal Government's Fiscal FutureGAO-19-314SP: Published: Apr 10, 2019. Publicly Released: Apr 10, 2019.
Mar 27, 2019
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Fiscal Exposures:
Federal Insurance and Other Activities That Transfer Risk or Losses to the GovernmentGAO-19-353: Published: Mar 27, 2019. Publicly Released: Mar 27, 2019.
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