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Wednesday, May 26, 2010

Introduction of Store Management

Store Management

Those item which are generally not is use for specific duration e.g. spare parts, raw materials are called as stores and the space where these are kept is known as store room. Store Management is the aspect of material control which is concerned with the physical storage of goods.

Characteristics of efficient system of store keeping


Efficient store keeping should:

a. Ensure uninterrupted supply of materials and stores without delay to various production and service departments of the organization

b. Protection of materials from losses due to fire, theft, evaporation etc.,

c. Avoiding over-stocking and under-stocking

d. Economical utilization of storage space.

e. Up-to-date stores records

f. Ensuring perpetual inventory

g. Immediate location of material required
 

Procedure for issuing of materials
Items in stores are meant issuance. The management generally lays down the procedure for the issue of material. The storekeeper should ensure the following:

a. A properly authorized material requisition should be presented to him

b. A foreman should prepare the requisition.

c. Requisition should be prepared in triplicate, two copies should be sent to the stores and the requisitioning department should retain the third copy.

d. The storekeeper should issue the necessary materials against the signatures of the person receiving the materials.

e. The storekeeper uses one copy of material requisition in making necessary entries in the bin card. The costing office receives the other copy for pricing the issue and making necessary entries in the stores ledger.

Keywords: Store Management, Characteristics of Efficient Store Keeping, Process or Procedure of Issuing Material, Material Issuing Process

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