Store Procedure & Practice - 2

Objectives of store keeping:

Following are the main objectives of an efficient system of store keeping:

1. To ensure uninterrupted supply of materials and stores without delay to various production and service departments of the organisation.
2. To prevent overstocking and under stocking of materials,
3. To protect materials from pilferage, theft fire and other risks.
4. To minimise the storage costs.
5. To ensure proper and continuous control over materials.
6. To ensure most effective utilisation of available storage space and workers engaged in the process of store keeping.

Functions of Store keeping:

In the light of above objects, the functions performed by the stores department are outlined below:

1. Issuing purchase requisitions to Purchase Department as and when necessity for materials in stores arises.
2. Receiving purchased materials from the purchase department and to confirm their quality and quantity with the purchase order.
3. Storing and preserving materials at proper and convenient places so that items could be easily located.
4. Storing the materials in such a manner so as to minimise the occurrence of risks and to prevent losses due to defective storage handling.
5. Issuing materials to various departments against material requisition slips duly authorized by the respective departmental heads.
6. Undertaking a proper system of inventory control, taking up physical inventory of all stores at periodical intervals and also to maintain proper records of inventory.
7. Providing full information about the availability of materials and goods etc., whenever so necessary by maintaining proper stores records with the help of bin cards and stores ledger etc.

Working of the stores:

There are four sections in the process of store keeping viz.:

1. Receiving section,
2. Storage section,
3. Accounting section, and
4. Issue section.