This document discusses store management and various aspects related to it. It defines store management and its objectives such as minimizing production costs. It describes key functions of a store like receipt, storage, retrieval, issue, record keeping, and interaction with other departments. It also discusses types of stores like centralized and decentralized and their respective advantages and disadvantages. Finally, it covers topics like store layout, storage systems and factors affecting store layout.
Part of the induction course for students undertaking diploma and degree in environmental lab science, public health, Analytical Chemistry, Applied Biology, Medical Lab Sciences and Food Technology.
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Is your warehouse as efficient as it could be? A well-designed facility needs the right conveyor belt, software and machinery. But even with the best equipment and digital technology, the backbone of warehouse efficiency is still old-fashioned organization.
Warehouse Operations and Inventory Management Thomas Tanel
Companies that make the best use of the basic principles of planning and managing warehouse operations and inventory management have a competitive advantage. Organizations that lack warehouse strategic planning and inventory operational excellence lose profits, market share, cost advantages, and market leadership.
Traditional Supply Chain and Logistics channels are indeed changing. As organizations move from mass production and mass distribution to mass customization, creative approaches are needed in the management of warehousing and inventory. The challenge is always present, because different customers may demand different levels of service. Demand often cannot be forecasted, especially if one must deliver customized products or services exactly where the customer needs them.
Businesses today must understand that they are competing on the basis of time more than on any other factor. The rigors of supply chain management require that you take action to meet your customers’ demand for faster, more frequent, and more reliable deliveries. Your suppliers need to meet increasingly precise inbound schedules. Tomorrow’s customers are more likely to be in another country or continent than they are likely to be from across town, in another state, or in another province.
With a proven inventory management system and an A-B-C Analysis, you can transform your inventory into a proactive force that lowers your inventory investment, reduces carrying costs, boosts confidence in physical supply and distribution service levels, and increases customer and user satisfaction. From a storage and distribution perspective, you, as overseer of the supply management process, should also know how the warehousing layout design criteria and the space and storage schemes affect your material flow, service levels, computerization, and technology options.
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
SIM Unit 4
Store management :
Materials handling,
Flow of goods/FIFO,
Computerization of inventory transactions
Security of stores,
Stocking and technical impacts-
shelf life,
wastage,
pilferage
Is your warehouse as efficient as it could be? A well-designed facility needs the right conveyor belt, software and machinery. But even with the best equipment and digital technology, the backbone of warehouse efficiency is still old-fashioned organization.
Warehouse Operations and Inventory Management Thomas Tanel
Companies that make the best use of the basic principles of planning and managing warehouse operations and inventory management have a competitive advantage. Organizations that lack warehouse strategic planning and inventory operational excellence lose profits, market share, cost advantages, and market leadership.
Traditional Supply Chain and Logistics channels are indeed changing. As organizations move from mass production and mass distribution to mass customization, creative approaches are needed in the management of warehousing and inventory. The challenge is always present, because different customers may demand different levels of service. Demand often cannot be forecasted, especially if one must deliver customized products or services exactly where the customer needs them.
Businesses today must understand that they are competing on the basis of time more than on any other factor. The rigors of supply chain management require that you take action to meet your customers’ demand for faster, more frequent, and more reliable deliveries. Your suppliers need to meet increasingly precise inbound schedules. Tomorrow’s customers are more likely to be in another country or continent than they are likely to be from across town, in another state, or in another province.
With a proven inventory management system and an A-B-C Analysis, you can transform your inventory into a proactive force that lowers your inventory investment, reduces carrying costs, boosts confidence in physical supply and distribution service levels, and increases customer and user satisfaction. From a storage and distribution perspective, you, as overseer of the supply management process, should also know how the warehousing layout design criteria and the space and storage schemes affect your material flow, service levels, computerization, and technology options.
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
SIM Unit 4
Store management :
Materials handling,
Flow of goods/FIFO,
Computerization of inventory transactions
Security of stores,
Stocking and technical impacts-
shelf life,
wastage,
pilferage
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2. Introduction
Store is a place where excess material is
kept which will be used as and when
required. Loss of items, deterioration,
obsolescence and inadequacy [of what is
stored to what is needed] are treated as ‘part
of life’.
3. Introduction
Store management is “ to receive materials, to
protect them while in storage from damage &
unauthorized removal, to issue the material in
the right quantities, at the right time to the
right place and to provide these service
promptly and at least cost”.
4. Objectives of store
In the chain of internal customers and suppliers,
stores has several internal customers. As a matter of
fact all functions of management are internal
customers to stores. Customers as usual expect
Quality Cost and Delivery from every supplier.
Stores also have to deliver these customer
expectations. In the process of discharging this
obligation Stores perform some activities that are
functions of Stores.
5. Objectives of store
Minimizing cost of production through
minimizing cost on materials
Maintaining the value of materials
Service to user departments
Establishing Co-ordination with other
departments
Advising materials Manager
6. Functions of Stores
1. Receipt
2. Storage
3. Retrieval
4. Issue
5. Records
6. Housekeeping
7. Control
8. Surplus management
9. Verification
10. Interaction & coordination
7. Receipt
Any item of goods or material that enters the
organization always enters through the stores.
Similarly, every item unless specifically excluded, has
to leave through the store. Stores is the final account
keeper of all materials.
Material sent by any supplier after the security
clearance comes to the stores. Stores check the
document carried by the carrier, known as Delivery
Challan, against the copy of the Purchase Order placed
on the supplier by the organization.
8. Receipt
Once the adequacy is established and quantity is
verified the material is sent for testing for quality
parameters.
Some times quality control tests are elaborate and time
consuming. If the policy of receipt is to unload the
material subject to quality control acceptance, it is
cleared for unloading.
Unloaded material is kept on the hold if it not yet
cleared by quality control department. If the material is
rejected it is sent back to the supplier after clear
9. Storage
Once the unloaded material is approved by the
quality control department, as per the quality plan in
the quality system, it is moved to a specific place in
the stores layout.
The material is so stored that it becomes easy to
retrieve and issue subsequently.
Storage should also ensure protection against
deterioration, damage and pilferage.
10. Storage
Detailed system is adopted for location and labeling
of items while in storage. Storage plan is made
keeping in mind,
1. nature of the product- physical state, toxicity,
inflammability and other hazards
2. volume and weight- heavy or light
3. movement frequency- fast moving or slow moving
4. point of use
11. Retrieval
Easy and quick retrievability of items that are
demanded by the internal customers.
Easy identification, maximum space utilization and
minimum handling are key factors to retrieval
functions.
It is common knowledge in many of the companies
that after hours of searching for the item is declared
to be out of stock. This causes hold up of production
process and avoidable urgent purchase of out of
stock material. This function takes place as per
established retrieval system.
12. Issue
Fulfilling customer demand for the item in
minimum time, keeping quality high and cost
minimum is issue.
An internal customer doesn’t pay the price but he
has to fulfill requirement of authorization for the
demand.
A duly authorized indent or requisition for the item
is the key
13. Records
Maintaining records of receipt and issue.
Updating the stock levels as per movement of
materials.
Basic records of store are bin card and stock
register.
Bin card is placed on the bin in which items are stored.
This gives information about receipt, issue and balance.
stock register gives all the information in the bin card
and also the value.
14. Housekeeping
Maintenance of spic and span cleanliness in
the store and ensuring principle of Place for
Everything and Everything in its place is fully
implemented.
Good housekeeping ensures satisfactory work
practices
15. Control
Taking measures to ensure material plan is being
adhered to.
Any changes in consumption pattern or
replenishment pattern are closely monitored for
corrective action.
Material movement is watched to identify
nonmoving material for disposal. Effective control
puts into effect management objective of ‘no
shortage and no excess’.
16. Surplus management
Effective disposal system for unneeded
material to reduce inventory cost and
proactive measures to eliminate deterioration
and obsolescence.
Obsolete items are good in all respect but
have no useful role in the company due to
changes that have occurred in the course of
time.
17. Surplus management
Surplus items are those that have accumulated due to
faulty planning, forecasting and purchasing. Hence a
usage value is associated with these items.
Scrap is wastage generated due to processes like
turning, boring drilling etc. and also due to bad
manufacturing. it is said that in India nearly Rs. 2500
crores are tied up as obsolete, surplus and scrap
items.
18. Verification
Stock verification to eliminate gap between
information and physical stock. In stores some items
are maintained as stock items. The stores triggers the
procurement cycle for such items when a
predetermined reorder level is reached. Hence
correct stock position through verification is critical
to ensure ‘no shortage and no excess’ for the item.
19. Interaction & coordination
Very close interaction between Purchasing,
production, quality control and engineering
functions is obviously needed in the discharge of the
functions discussed so far. It also becomes necessary
to coordinate the flow of material samples and
information through a network of departments for
performance of stores functions. Besides, every
management function being an internal customer
interaction is very important.
21. Centralized or decentralized stores
organization
Centralized stores concept is to store all items
at a central place and control materials
movement from this central place. Whereas
Decentralization concept is moving the
material to the respective consumer function
or directly to the points of use.
23. Features of centralized stores
organization
1. Effective supervision and control.
2. Issue at single point reduces cost of
issue
3. Reduced personnel requirement
4. Efficient layout for stores
5. Better handling technology
6. Better inventory checks
7. Maintenance of optimum stores
8. Elaborate documentation
24. Advantages of centralized store
The variety of goods can be supplied to all
users from one small location.
Less manpower will be required.
Better control of materials is possible.
Material handling will be easy.
Wastage and deterioration of materials will be
less.
25. Disadvantages of centralized store
It may not be suitable for large manufacturing
concern.
More staff will be required for shifting &
transportation of the materials to various
production units.
Record keeping is difficult.
27. Features of decentralized stores
organization
1. Reduced handling
2. Customer friendly
3. Fewer production stoppages
4. Visual management is easier
28. Advantages of decentralized stores
Reduced material handling and associated
cost.
Less chances of bottlenecks and delays.
Convenient for every department to draw
materials.
Less transportation time.
29. Disadvantages of decentralized
stores
Coordination and control of all decentralised
store is a challenge to management.
Labor utilization may suffer due to low store
activity level.
30. Some other types of storage
As per types of the materials stored
1. Raw Materials store
2. Components store
3. Work in process store
4. Finished goods store
5. Semi finished goods store
6. Tools store, die crib
7. Consumable materials store
31. Cont…
As per nature of the materials stored
1. LPG store
2. Chemicals store
3. Hazardous materials store
4. Refrigerated materials store
32. Cont…
As per function of the storage
2. receiving store
3. central store
4. general stores
5. sub stores
33. Stores Layout
Physical arrangement of storage facilities
for efficient receipt, storage and issue of
materials is called as layout of stores. In
a properly arranged store, the material
are properly maintained. It involves
minimum of handling and optimum
utilization of space.
34. Factors affecting stores layout
Type of Stock
Volume of stock
Availability of space
Physical factors
35. Store System
Closed door system: the stored material is held
under lock and key. Entry into the store is restricted
authorized persons only. Physical movement of the
material is only with authorized documents only.
Maximum security and tight control on movement
are features of this system
Open stores system: In this system material is
stored near point of use and there is restriction on
consumption. Control passes on to the operations
department