Production Management

5 Factors of Successful Store Keeping

The success of store keeping can be judged by the smooth running of production department. The underlying factors of successful store keeping are as follows :

(i) Situation of the Store. As far as possible the store-room should he centrally situated as to be easily accessible to other departments. A central situation facilitate receipt and issue of materials easy and economical.

(ii) Layout of the Store. To ensure free movement of materials timely inspection and day to day verification of the receipts and issues, it is highly desirable that the store should he free from congestion. Proper arrangement of storeroom equipment, indexing, grouping and coding of stores is absolutely essential. A sensible layout go a long way in making the store keeping functions a success.

(iii) Records. Scientific and proper complete records increase efficiency and elimination of wastage and misappropriation. Sometimes disputes arise with the creditors, debtors and insurance companies. If the records are update, all disputes arising in the course of transactions can be settled easily and promptly.

(iv) Preservation. The chief aim of good store keeping is to protect the stores from all kinds of damage, theft and pilferage. The quality and value of the materials should not deteriorate for want of proper storage. This requires airy. fireproof and well ventilated. storeroom.

(v) Other Factors. There should be constant check on the movement of materials and on the balance of materials in the bins. Regular and periodic verification is very desirable for the detection of fraud and misappropriation.

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