Introduction And Meaning Of Store Keeping
Store keeping is an essential part of material control system that starts
immediately after purchasing or receiving of materials (raw materials, work
in progress or finished goods). It is the process of receiving, checking,
recording and storing of materials. Store keeping helps to maintain the
quality and quantity of items by providing better storing and preserving
facility. Therefore, it ensure proper stocking and issuing of materials in
the company.
Objectives Of Store Keeping
Some of the main objectives of store keeping can be described as
follows:
1. Discourages Over And Understocking
Efficient store keeping system helps to maintain optimum level of inventory
in the store. So, it lowers the chance of understocking or overstocking of
materials. It also helps to reduce the store cost and improve the cash
flow.
2. Smooth Operation
Required materials are supplied to production area, departments, sections
and to different units without any delay. So, it ensures smooth functioning
of production and other operational activities
3. Protection Of Materials
Good store keeping system maintains safe custody of materials that provides
protection against loss, fire, theft, leakage, damage etc.
4. Easy To Locate
It maintains systematic and scientific recording of materials in the store
that helps to locate and identify the required items easily in less
time.
5. Cost Minimization
Efficient store keeping ensures maximum utilization of available store
space and helps to reduce storage cost.
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6. Maintain The Quality
As we know that store-keeping maintains safe custody of goods with proper
storage and provides protection against loss and damages, it helps to
maintain the quality and quantity of the goods.
7. Provides Information
It provides up-to-date data and information about all types of materials
available in the store room because it maintains proper recording of
inventory.
