Module 3 Inventory control techniques ,working capital , management & stores, material handling Space ,room, or building where

various types of material semi finished items or items purchased as temperarly placed ( for supply for production for sale ) is called a store / ware house. Stock/ stock room Finished parts ready for sale and shipment Each and every types of materials needs a separate place, for a customer and a room. The process of supplying and storing various material and parts is called stores management . Materials are supplied from the stores based on demand and request. Stoage of material manufactures continuety in production. Classification According to the type of material stored According to the location. 1) Fixed location easy for locating material less time for decla 2) Random location 3) Zoned location items of a particular groups are stored in a theme zone Main crit is deciding the type of location is 1) Minimise time of travel. 2) Easy storing and retrival of items using MHS Centralized & decentralized stores Centralized Variety of goods can be supplied to all inven term one location, minimum inventary less manpower. Better control , economy in space, Inspection & receipt easy, MH easy wastage & dete will be less

Not suitable for large manpower needed for transpectation of material to various production. Units safety and maintanance is difficult in large c stores. Record keeping difficult. Decentralized Needs are planning and highly optimum location , more suitable for large any less manpower need for transpectation. Safety and maintenance more easy . Record keeping may easy variety of material is limited , more inventory of a limited types of material, difficult to control and co-ordinate a number of stores, inspection & receipt issue is difficult , more wastage . Store management & store keeping The purpose of store management is to device the activities of storing in such a way that the material as received on one end, kept inside the storing room and are issued to deliver at the production control. Receipt Storing Issue 3 main trans Objectives of store keeping 1) To procure and maintain the request , raw material parts, each group tools requests for the process and to store them 2) To provide maintenance of material spare parts. 3) To store scraps discarded and obsolete goods 4) T receive and issue finished goods and stock Functions :1) To store material above safety stock and up to maximum capacity 2) To see that essential components request for production doesnt tall below the required minimum level. 3) To inspect and check the material after receipt and before storing 4) To arrange and store the material 5) To maintain material flow up to date records of in coming and out going materials Organization of stores : Store keeper is the main person responsible to manage all the stores. Store is the link between purchase department and production department centralized stores are managed by mm department and decentralized store are managed by production controls . The quantity of a typical store is are fewer below.

The main duties of Chief store keeper 1) Planning the store for optimum utilization . 2) Receiving all supplied materials checking inspection and recording them. 3) Storing material in proper place, maintaining bin cards stock cards. 4) Receiving requests from various facilities and sending them to purchase department before shortage arises . 5) Codification and classification. 6) Stock valuation, verification, stock disposal record keeping Types of warehouses/ stores Stores are designed and located, depending upon the type of material to be stored, the frequency receiving and with drawing material and the method of storing They are classified into two categories 1) Physical stores The stores are located at various places based on their sizes which depend on the quantity and type of material kept in them . A) Central warehouse located at one place, serves various sub stores in different plants . Controlled by storekeeper and his associates. Centralization of material receipt and stock can be located at a suitable location to supply materials required for several manufacture facilities which material handling and better control. Hence advantages for both small as well as 2) Transit stores used to keep material temporarily . Mainly WIP/ Semi finished goods. 3) Sub stores Stores located new the place of manufacturing. Sot that they can immediaty used up. 4) Storing sites For large construction and fabrication project, stores are built up near project sites for storing bulk and material needed.