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.
Feb 6, 2018
Budget Issues:
Continuing Resolutions and Other Budget Uncertainties Present Management ChallengesGAO-18-368T: Published: Feb 6, 2018. Publicly Released: Feb 6, 2018.
Oct 12, 2017
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Public Relations Spending:
Selected Agencies' Activities Supported by Contracts and Public Affairs StaffGAO-17-711: Published: Sep 12, 2017. Publicly Released: Oct 12, 2017.
Oct 2, 2017
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U.S. Territories:
Public Debt OutlookGAO-18-160: Published: Oct 2, 2017. Publicly Released: Oct 2, 2017.
Sep 20, 2017
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Budget Issues:
Budget Uncertainty and Disruptions Affect Timing of Agency SpendingGAO-17-807T: Published: Sep 20, 2017. Publicly Released: Sep 20, 2017.
May 3, 2017
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The Nation's Fiscal Health:
Action is Needed to Address the Federal Government's Fiscal FutureGAO-17-579T: Published: May 3, 2017. Publicly Released: May 3, 2017.
Jan 18, 2017
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Overseas Contingency Operations:
OMB and DOD Should Revise the Criteria for Determining Eligible Costs and Identify the Costs Likely to Endure Long TermGAO-17-68: Published: Jan 18, 2017. Publicly Released: Jan 18, 2017.
Jan 17, 2017
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The Nation's Fiscal Health:
Action is Needed to Address the Federal Government's Fiscal FutureGAO-17-237SP: Published: Jan 17, 2017. Publicly Released: Jan 17, 2017.
Jan 12, 2017
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Grants Management:
Selected Agencies Should Clarify Merit-Based Award Criteria and Provide Guidance for Reviewing Potentially Duplicative AwardsGAO-17-113: Published: Jan 12, 2017. Publicly Released: Jan 12, 2017.
Dec 20, 2016
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Declining Resources:
Selected Agencies Took Steps to Minimize Effects on Mission but Opportunities Exist for Additional ActionGAO-17-79: Published: Dec 20, 2016. Publicly Released: Dec 20, 2016.
Dec 8, 2016
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State and Local Governments' Fiscal Outlook:
2016 UpdateGAO-17-213SP: Published: Dec 8, 2016. Publicly Released: Dec 8, 2016.
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