Shubhang gomasta BC0140056

Store keeping and stock control or inventory control

ABSTRACT:
In cost accounting, 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. A storehouse is a building provided for preserving materials, stores and finished goods. The in-charge of store
is called storekeeper or stores manager. The organisation of the stores department depends upon the size and layout
of the factory, nature of the materials stored and frequency of purchases and issue of materials. Stock control,
otherwise known as inventory control, is used to show how much stock one can have at any one time, and how can
we keep track of it .It applies to every item we use to produce a product or service, from raw materials to finished
goods. It covers stock at every stage of the production process, from purchase and delivery to using and re-ordering
the stock. Efficient stock control allows us to have the right amount of stock in the right place at the right time. It
ensures that capital is not tied up unnecessarily, and protects production if problems arise with the supply chain.
There are four main types of stock:raw materials and components - ready to use in production work in progress stocks of unfinished goods in production finished goods ready for sale consumables - for example, fuel and stationer.
There are several methods for controlling stock, all designed to provide an efficient system for deciding what, when
and how much to order. Minimum stock level is to identify a minimum stock level, and re-order when stock
reaches that level. This is known as the Re-order Level. Stock review is to have regular reviews of stock. At every
review one place an order to return stocks to a predetermined level. Stock control systems ensure that shelves are
appropriately stocked. If there is too much stock, it ties up a company's money, money that might be better spent on
reducing their overdraft, on advertising the business or on paying for better facilities for customers, for example. Too
much stock means that some perishable products might not sell and would have to be thrown away and this would
reduce a stock control system outweigh the disadvantages.

RESEARCH PLAN
RESEARCH OBJECTIVE
The primary objective of this research is to know about store keeping and stock control , the various uses of store
keeping and store control , its advantages ,its disadvantage ,What is the main purpose of store keeper and how he
controls the store . After the focus shifts to the various types of store that is centralised and decentralised store
,.classification and codification of material. The objective is to mainly help the reader to get a deep knowledge about
store keeping and store control.
RESEARCH QUESTION

Meaning of Store Keeping?

Meaning of Stock Control?
What are the Duties and the Responsibilities of Store Keeper?
What are the various types of stores?
What are the different type of classification and codification of materials?
Advantages and disadvantages of Centralised and Decentralised store? .

RESEARCH METHODOLOGY: The researcher has used Primary and Secondary resources such as journals, books,
websites etc., and aims to evaluate, interpret and suggest solution to the illustrative problems through Doctrinal
Method.
TENTATIVE CHAPTERISATION:
CHAPTER-I
Introduction
What is Store Keeping.
What is Stock control .
CHAPTER-II
What is a Store Keeper and its use in Store Keeping.
What are the Duties and Responsibilities of a store Keeper .
CHAPTER-III
What is the location and the layout of stores;.

 What are the various factors affecting location and layout of stores
What are the different type of stores ? What are its advantages and disadvantages ?
CHAPTER IV
What are the classification and codification of materials
What are the types of classification and codification of materials.
CHAPTER-V
Conclusion
Bibliography
WEBLIOGRAPHY
www.Jstor.org
www.heinonline.com
www.legalservicesindia.com
www.indiankanoon.com
www.wikipedia.com
www.scconline.com