It is a broad term describing the various acts of identifying, acquiring and managing the products and/or resources needed to run a business or other organization. These include physical goods as well as information, services and any other resources needed.
Store ordering procedures
- Listing requirements
- Balancing
- Catalogues
- Cost estimates
- Requisitioning
Requirements in storage of supplies
- Types of storage
It is important to know about products and how it is supposed to be stored.
- Recording
All products should be recorded according to the number, size, price and how many have been supplied. Receipts should be available for accountability
- Stock ledger
It is the capital stock records of corporation.
It is also referred to as stock books. These records are permanent and contain the personal information of each stockholder along with details of each share they own.
Stock ledger should be updated each time a transaction dealing with a share occurs.
Store issuing procedures
- Ledger records
A ledger is the principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type, with debits and credit in separate columns and a beginning monetary balance and ending monetary balance for each account.
- Issue voucher
This form enables you to transfer the items between the departments and generate voucher. As soon as you issue the voucher, the stock level of the item is updated in both the departments.
- Inventory
It is a complete listing of merchandise or stock on hand, work in progress, raw materials , finished goods on hand e.t.c made each year by a business concern.
Control measures for stores and maintenance
- Inspection check-list
A checklist is a type of informational job aid used to reduce failure by compensating for potential limits of human memory and attention.
It helps to ensure consistency and completeness in carrying out a task.
- Discrepancies
A discrepancy is a lack of agreement or balance. If there is a discrepancy between the money you earned and the number on your paycheck.
- Maintenance of equipment
Equipments should be regularly maintained for easy performing of a job/task.
