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Stock records - Issuing and Control
https://hmhub.in/stock-records-issuing-and-control/
August 13, 2018
Categories: Sth Sem Accommodation Mgt. Notes
Issuing
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Reason for developing an efficient and effective control system are as follows:
+ Shortage or poor stock rotation will reduce standards and therefore directly reduce
revenue.
+ When supplies are lacking items may need to be borrowed from other sections.
+ Excessive stock may constitute a safety risk and reduce cash flow.
+ Losses may occur will must be identified, caused established, and controls
implemented.
+ Good storage control is necessary ti implement health and safety procedures eg. Care
for substances hazardous to health safe procedures.+ Monitoring of use and product evaluation is better achieved.
+ Budgetary control is facilitated.
+ Standardization of quality is facilitated,
STOREKEEPEER: The storekeeper plays a very important role in the control of stock
and the smooth functior
g of the day to day operations. The storekeeper must have:
+ Agood technical knowledge of the products especially the shelf life of the products.
+ The ability to deal with suppliers, own staff, and personnel from other departments
as well as the management.
+ The ability to count and measure accurately and keep up-to-date record on costs and
level.
+ Knowledge of up-to-date legislation e.g. health and safety legislations.
+ Absolute honesty and trustworthiness in all dealings.
Stores and stock control involves:
1.
Ordering
2.
Delivery of goods
3.
Storage
STOCK RECORDS:
An essential part of the storage function is the maintenance of clerical records to
record all stock movements accurately in and out of the stores. The system used will
depend on the type and size of the establishment. Upon arrival at the stores all goods
must be recorded and added to the original stock "goods received books",
1.
Bin card: It is a record of all the receipt and issue of a particular item and is either
attached to the particular books or kept in a file.
2.
Monthly consumption sheet: to find out the total of items used over a period of time or
to compare usage rate the information can be taken from the sheet.
Stock taking: It may be done monthly or quarterly or yearly depending on the policy of
the establishment. It is an essential process to prove the accuracy of the stock recordsand should be carried out by the departmental head or an external auditor. In order to
carry out stock taking it is necessary to suspend all movement of goods during the
count and to make sure that all goods are checked and accounted for. Any discrepancy
should be noted and investigated wherever necessary.
Issuing: The system of issuing goods from the stores in various departments will vary
but a right system of issuing should be in operation. All issues should be made against
requisition or specification for ease of control. In various departments forms items
should be checked and weighed accurately before the order is made ready for dispatch.
In some establishments stores may be issued daily, weekly, or monthly by a topping up
system to meet a required basic stock imprest system.
New for old, or full for empty: Whichever system is used spot checks should be made by
the supervisor to check usage rate and prevent wastage and pilfering. Staff should be
discouraged from ordering more than is actually required, and issue should be permitted
only on the stated day or time unless there is an emergency.