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Stores Management Overview and Practices

The document discusses stores management. It defines a store as a place where materials are kept. Stores are classified functionally based on the materials stored like raw materials, tools, etc. and physically based on size and location like central stores, site stores. The main objectives of stores management are to provide the right materials when needed in the required condition efficiently and economically. Activities involved include receipt, storage, preservation, issue, and recording of materials transactions. The latest practices utilize barcodes, automated equipment, and paperless systems to improve efficiency.

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Aninda Ghosh Partha
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135 views22 pages

Stores Management Overview and Practices

The document discusses stores management. It defines a store as a place where materials are kept. Stores are classified functionally based on the materials stored like raw materials, tools, etc. and physically based on size and location like central stores, site stores. The main objectives of stores management are to provide the right materials when needed in the required condition efficiently and economically. Activities involved include receipt, storage, preservation, issue, and recording of materials transactions. The latest practices utilize barcodes, automated equipment, and paperless systems to improve efficiency.

Uploaded by

Aninda Ghosh Partha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

STORES MANAGEMENT

WHAT IS A STORE?

Stores, Storehouse, or warehouse – All of them refer to a


building or room or place where materials are kept.

The true function of a store is not to store a product, but to


facilitate the availability of the material as and when
required.

Depending on the organization, it will have different stores


like Raw Material Stores, Processed or Semi-Finished
Materials Stores, Finished Goods Stores, Yard Stores and
so on.

In case of companies who are importing the goods, they can
choose to have Private or Public bonded warehouse.
BROAD CLASSIFICATION OF STORES
 Functional – Chemicals, Tools, Raw Materials, etc
 Physical – Depending on size and location like Central Stores,
Sub Stores, Transit Stores, Site Stores, etc

CLASSIFICATION OF FUNCTIONAL STORES:


1. Raw Material Store [Link] Goods Store 13. Flammable Materials
2. Production Store Store
[Link]-in-progress
3. General Store [Link] Store
Store
4. Tools Store [Link] Sheds
[Link] Store
5. Salvage Store
[Link] Store
6. Packing Store
7. Spare Parts Store
8. Receipt Store
CLASSIFICATION BASED ON PHYSICAL NATURE

• Central Store
• Departmental Store
• Site Store
• Transit Store
WHAT IS STORES MANAGEMENT?
Stores Management is an integral part of the overall function
of Materials Management.

The task of Stores Management relates to


safe custody and preservation of the materials stocked,
issue and accounting.

Objective is to efficiently and economically provide the right


materials at the time when it is required and in the condition in
which it is required.

The company doesn’t make money by storing a product, unless of course,


the price of the product escalates with passage of time, such as antiques.
The main objectives and functions of Stores Management:

 Standardization of stock items by for easy


coding
identification of materials, components and parts, efficient
assessment of the stock needs and better utilization of the
available stock.
 Classification of items based on their value, usage and
source.
 Adopting scientific methods of storage, to minimize losses
due to deterioration, obsolescence, breakage, leakage, thefts
etc.
 Proper recording of transactions and periodical review of
balances under different suspense heads for keeping up to
date stores accounts.
WHAT ACTIVITIES ARE CARRIED IN STORES

 Identification of all Materials stored

 Receipt and inspection


 Storage and preservation
 Issue and dispatches (Material Handling)
 Records and recording system
 Materials Accounting
Stock Control Techniques (Inventory Management)
 Stock Checking and Stock Taking Methods
LATEST PRACTICES IN STORES MANAGEMENT

• Bar Codes used for identification


and for accounting
•Automated Material Handling
System
• Automated storage equipments
• Use of vertical space
•Paperless Stores Management
RACKS

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