Here is an essay on ‘Store-Keeping’ for class 11 and 12. Find paragraphs, long and short essays on ‘Store-Keeping’ especially written for school and management students.
Essay on Store-Keeping
Essay Contents:
- Essay on the Meaning of Store-Keeping
- Essay on the Significance of Store-Keeping
- Essay on the Functions of Store-Keeping
- Essay on the Objectives of Store-Keeping
- Essay on the Duties of Store-Keeper
- Essay on the Position of Stores Controller In the Organisational Set Up
Essay # 1. Meaning of Store-Keeping:
It is serving facility, inside an organisation, responsible for proper storage of the material and then issuing it to respective departments on proper requisition. The custodian of stores is generally known as storekeeper or Store-controller.
Those item which are not in use for some specific duration, e.g. spare parts and the raw-materials are called as Stores and the building space where these are kept is known as Store room.
Alford and Beatty say that storekeeping is that aspect of material control, which is concerned with the physical storage of goods. In the words of Maynard, the duty of store-keeping is “to receive materials, to protect them while in storage from damage and unauthorized removal, to issue the materials in the right qualities, at right time, to the right place and to provide these services promptly and at least cost.”
Essay # 2. Significance of Store-Keeping:
The significance of store-keeping has not been properly recognised by various enterprises. In most organisations store-keeping is not given its due position in the organisational set-up. Stores are generally located in ill- equipped and badly and poorly ventilated buildings.
The executives of stores are generally paid less in comparison to executives of other departments. These factors are responsible for mis-management of stores resulting in discrepancies in issue of material, loss of items in stock, mistakes in vouchers etc. All these results in undue delay in production.
It is an established fact that more than 70% of the capital of an enterprise is invented in stores. Thus for efficient and economic utilisation of capital the importance of stores cannot be ignored. The management of stores should be entrusted to experienced, sincere and efficient personnel and the location of stores should be at some proper and safe place.
Essay # 3. Functions of Store-Keeping:
The functions of store keeping are related with receiving, safe custody in stores and issuing the material against authorised requisition at the minimum cost.
The main functions of store keeping can be outlined as:
(i) Receiving, handling and speedy issue of material.
(ii) Custodian of goods in store against damage and pilferage.
(iii) To ensure regular supply of materials.
(iv) Effective utilisation of store space.
(v) To provide service to the organisation in most economical way.
(vi) To keep the details of the items available in store up to date.
(vii) Proper identification and easy location of items.
(viii) Physical checking of stocks.
Essay # 4. Objectives of Store-Keeping:
(i) Easy location of the items in store.
(ii) Proper identification of items.
(iii) Speedy issue of material.
(iv) Efficient utilisation of space.
(v) Reduction in need of material handling equipment.
Essay # 5. Duties of Store-Keeper:
The following are the main responsibilities of stores controller of an organisation:
(i) The items in stores should be placed in such a way that these can be easily located.
(ii) To maintain the store premises neat and clean.
(iii) Efficient and effective service to the organisation.
(iv) To ensure that materials are issued against authorised requisition only.
(v) To keep up-to-date record of materials issued, received and balance in stock.
(vi) Planning and execution of stock checking activities.
(vii) Communicate the purchase department about its requirements.
(viii) To maintain efficient and effective material handling
Essay # 6. Position of Stores Controller In the Organisational Set Up:
In small-scale establishments, it is experienced that purchase and stores department are attached with production department. In organisations where materials control is entrusted to a materials manager both purchase and stores sections are attached to material department. Thus the position of stores department is always of subordinate nature and it never enjoys an independent entity.
The management of stores should be entrusted to experienced, sincere and efficient an personnel who is qualified and primarily interested in doing a good stores job.
Fig. 10.6
A general structure of materials management department can be explained by fig. 10.6.
The location of stores in an enterprise should be at a place where handling, transportation and the movement of the material at a minimum level. If there is only single plant or many plants situated in the same area then it is profitable to have one centralized store to service all production operations. But in case of plants located at distant places it is desirable to have separate store for each plant.
Sometimes a policy of maintaining centralised stores for common category of items and decentralised stores for individual items is followed by the management. The choice of centralized or decentralised system of stores depends on the degree of control convenience, reduction in costs of storing, transportation, nature of items etc.
The following are some of the advantages and disadvantages of centralised storing:
Advantages:
(i) Economy in investments.
(ii) Reduction in incidental expenses.
(iii) Less storage space.
(iv) Better security arrangements to safeguard against pilferage and theft.
(v) Less man-power required, due to which reduction in administrative costs.
(vi) Economy in transportation costs.
(vii) More bargaining power due to buying in bulk.
(viii) The variety of items in the inventory can be reduced due to more scope of standardisation of items.
Disadvantages:
(i) More material handling operations.
(ii) Chances of bottlenecks and delay are likely to be more.
(iii) More exposed to loss due to natural calamities like fire, rain, dust etc.