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Stores management

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About managing stores

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Stores management

  1. 1. 1created by K.G.Latshumi,M.B.A, VEC, Chennai
  2. 2. NATURE OF STORES  Store as building where inventories are kept  Function of receiving, storing, and issuing materials IMPORTANCE:  Ready accessibility  Efficient space utilization  Flexibility of arrangement  Reduces need for material handling equipment  Minimizes the material deterioration  Easy of physical counting 2created by K.G.Latshumi,M.B.A, VEC, Chennai
  3. 3. FUNCTIONS  To receive raw materials and account for them  To provide adequate storage and preservation  To meet timely demand of the consuming departments  To minimize obsolescence, surplus and scrap through proper codification, preservation and minimization  To highlight on stock accumulation, discrepancies, and abnormal consumption and to take corrective actions  To ensure good house keeping  To provide information to the purchasing department 3created by K.G.Latshumi,M.B.A, VEC, Chennai
  4. 4. STORES LAYOUT 4created by K.G.Latshumi,M.B.A, VEC, Chennai
  5. 5. Fixed location Zoned location Random location Storage system-ways of locating stock 5created by K.G.Latshumi,M.B.A, VEC, Chennai
  6. 6.  Can be based on the following suppliers- supplier A & B similarity of items- Coal and other fuel joint issues of item- oil and petrol size and frequency of use Random Location: Items will be stored in any storage position which is available zoned Location: Goods of a particular product group are kept in a given area May be randomly stored in a zoned location or stored according to the fixed position Fixed location: Goods of a particular type have position in the store assigned to them particularly 6created by K.G.Latshumi,M.B.A, VEC, Chennai
  7. 7. Stores layout comb Tree type Key word: Aisle position 7created by K.G.Latshumi,M.B.A, VEC, Chennai
  8. 8. MEASUREMENT OF STORES EFFICIENCY 8created by K.G.Latshumi,M.B.A, VEC, Chennai
  9. 9. Stock verification types  Periodic or fixed annual inventory  Continues or perpetual inventory  Low point inventory  Classification and codification: stores can be grouped in to 12 groups on the basis of their nature and usage. 1. Raw materials 7. components 2. Consumable stores 8. Spare parts 3. Tools 9. Packing material 4. work-in-progress 10. Finished goods 5. Hardware 11. Motors 6. Gear box 12. CKD-completely knocked down item 9created by K.G.Latshumi,M.B.A, VEC, Chennai
  10. 10. 10created by K.G.Latshumi,M.B.A, VEC, Chennai