The Kenya Medical Supplies Authority (KEMSA) is from Friday scheduled to carry out its annual stock-taking,
The process will be on for one week
KEMSA has announced it will temporarily suspend regular sales and warehouse operations, including product receipts and dispatches, save for emergency supplies during the period.
KEMSA CEO Terry Ramadhani said normal operations will promptly resume on Monday 11th July
The process will involve establishing the value of the usable stocks while separating them from expired, damaged and obsolete inventory in accordance with International Financial Reporting Standards.
KEMSA is using the exercise as part of a strategy aimed at accelerating transformation of the agency that has been dogged with corruption in the recent past.
“A stock-taking exercise is an integral part of business management and is even more important for an organisation like KEMSA, which holds physical inventory valued at more than Kshs 16 billion annually. At KEMSA, we are taking this exercise seriously as it will help us physically identify and quantify existing stock levels, verify the stock condition and generally ensure that we do not have an unexplained variance between our system records and the inventory in our warehouses,” Ramadhani said.
She added, “This exercise will enable us to review and update our internal controls as we will identify gaps that need to be improved, including procurement levels, physical security and related inventory management aspects.”
mitigation plans have been put in place to avoid disruption of services during the period
“Our regional customer service officers are currently engaging with our esteemed clients countrywide to notify them of the scheduled annual stock take exercise and also to work out dispatch modalities to avoid any inconveniences on the first week of July,” She explained.