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Any Stores system
starts with planning the need for materials. It is
assumed here that the need itself has been forecast with
a considerable degree of accuracy. The forecast also
must be subjected to periodic review.
The art of storekeeping is largely that of optimizing
the use of resources to meet actual needs in an
efficient manner.
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Efficiency
of Stores function is measured by the number of
times the stocks have turned over. That is how
much time material spends in the stores.
The lesser time it spends the better it is.
As money is a scarce resource , once it is
converted into materials, then only it is
useful. This is the essence of stock turnover.
Stores is a very broad word that indicates a
wide variety of materials stored such as
chemical, metals, liquids, gases, spare parts,
equipment, or finished goods, |
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engineering components to drugs and pharmaceuticals.
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Each of these items will require a specific type of
storage and their handling and preservation methods will
vary accordingly. There is a high degree of
specialization required to store and handle these
products and in many cases special storage licenses need
to be obtained from the Government, e.g., the storage of
petroleum products or explosive products. It is hence
mandatory for Stores personnel to understand thoroughly
all of these requirements and implications The
understanding of these principles is most important in
the efficient practice of the art of storekeeping.
The services
rendered by Stores can be arranged into four broad
activities:
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To make
available a balanced and uninterrupted flow of raw
materials, components, tools, equipment and any
other material needed to meet operational
requirements
- To provide maintenance
materials, spare parts and general stores as
requirements
- To receive and issue
finished products
- To accept and store scrap
and other discarded material as they arise
- To effectively dispose of
the unwanted materials
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The interesting
facet of the whole situation is that Demand comes
bundled while supplies unbundled. That is demand is
usually from Production which will give Stores a BOM
(Bill of Materials) and probably different materials
(which come from different suppliers) are required at
the same time. While supply comes from different
suppliers from different regions which may or may not
(in all possibility may not) come at the same time.
Hence balancing all these is a considerably demanding
job, which is required to be performed by stores
personnel.
In the face of a challenging situation faced by stores
personnel, one of the main responsibilities for them is
to :
- Properly account for every
item received in the stores
- Preserve the material till
its issue from stores and
- Issue the material when
demanded
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To have
effective control and proper accounting of materials , a
professionally managed Stores has the following main
functions :
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