After the completion of purchase procedure, the next important aspect of materials management is storekeeping.
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.
According to Alford and Beatty “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.
Objectives of storekeeping:
Following are the main objectives of an efficient system of storekeeping:
- To ensure uninterrupted supply of materials and stores without delay to various production and service departments of the organisation.
- To prevent overstocking and understocking of materials,
- To protect materials from pilferage, theft fire and other risks.
- To minimise the storage costs.
- To ensure proper and continuous control over materials.
- To ensure most effective utilisation of available storage space and workers engaged in the process of storekeeping.