What is store

What is a Store?

The definition of Store for different Business may be different, and its responsibilities can be according to store and product. But here we are talking about the supply chain Stores: Store is a place where additional goods are kept, which can be used when needed. And items are also stored in case of problems, such as: Damage, Wrong received, Discrepancy etc. All these are also a part of the store Management.

Store management “takes care of proper and improper materials when receiving materials, such as: Damage, Wrong, rusty Etc. and works immediately to protect them in the Store, and choosing the right materials and the right place to place them in the right quantity. And that too at a low cost, store management is also responsible for all this.

Purpose of the store In the chain of internal customers and chain of suppliers, the store has many internal customers. Customers are expected to deliver good quality and low-cost delivery from every Suppliers as usual.

The store also has to fulfill its customer’s expectations. All of these are activities with responsibility and process that people carry out in the work of the Store. The aim of the store is to minimize the cost on objective materials, thereby reducing the cost of production.

Maintaining a reasonable price for content so that user departments can get good service. The store does the major work of establishing good coordination with all other departments. In the next blog we’ll talk more on this, Thanks

Store Management Objectives

An efficient store management typically has the following main objectives.

  • Supply of content without delay to various users of the organization.
  • Safe handling of materials under preventive overstocking and stocking of materials and taking necessary steps to prevent their damage.
  • Keeping proper and continuous control over materials to reduce storage costs

Functional of stores – Names are given based on the function of the materials placed in the store. Examples are fuel shop, chemical store, appliance store, raw material shop, spare parts shop, appliance store, refractory shop, power store, explosive shop, and finished goods store, etc.

 

Physical stores – physically stores can be centralized stores or decentralized stores. These stores are named based on the size and location of the store.

Examples can be Central Store, Sub Store, Department Store, Site Store, Transit Store, Receipt Store, Intermediate Store, Open Yard Store and Cover Store etc. Stores are also classified by naming the departments in which they serve. Examples are construction stores, operation stores, rolling mill stores, blast furnace stores and steel melting shop stores, etc.

Shops are sometimes classified based on the nature of the materials stored in them. Examples are general store, bonded store, perishable store, flammable store, disposal store, reject store, and bayonet store, etc.

Centralized storage of materials in a central store has its advantages as well as some disadvantages. There are also the following advantages.

  • Centralized stores can cater to a wide range of materials that are not possible in small stores. Therefore the user department has to search for the content it needs at one place only.
  • This contributes to inventory control throughout the organization as all departments
  • The requirement is met.
  • This makes better control possible.
  • This provides economy in storage space as material when occupied in large quantities, occupying less specific space.
  • Larger stores can be provided with better and modern handling facilities. The operation can also be automated.
    Delivery at one point reduces the cost of delivery.
  • The receipt and inspection of materials can be conducted more efficiently.
  • Better opportunities for standardization of inventory are available.
    The business of materials increases due to maintenance of low inventory and similarly reduces the possibility of material deterioration during storage.

The manpower requirement for managing the stores is reduced. Also duplication of records occurring in a decentralized store system is avoided.

The disadvantage of a centralized store is as follows.

  • The distance from the store and the user department increases which require higher transport from the store to the user department.
  • If slippages or systems are not settling well, there may be a shortage of materials that may result in unnecessary interruptions in production.
  • Additional internal documentation may be required in the store. Risks due to fire and theft are high because the entire stock of materials is concentrated in one place.
  • The variety of material to be stored can be large and can cause complications in systematic storage as well as storage processes.

A store function

Store personnel are responsible for performing the following tasks.

  • Receipt of incoming materials
  • Unloading material and checking for material matching and loss or reduction, and preparation of report etc.
  • Filling the ‘incoming of goods’, ‘day book’, or ‘daily collection’ register
    Completion of consignment note (challan) of sellers
  • Creating inspection and completing inspection
  • Preparation of ‘Goods Receipt Note’ (GRN)
  • Ensuring all storage and material handling facilities are in proper working order.
  • Ensuring good housekeeping and cleanliness in storage space
  • Checking, counting and matching material before issuing goods
  • Ensuring correct documentation of material receipts and content issues
    Ensuring safe and proper handling of materials so that they do not cause damage

Keeping proper record of materials and ensuring correct accounting Ensuring regular stock verification, ensuring that all regulations are working properly


Share Anywhere

Leave a Reply

Your email address will not be published. Required fields are marked *