Inventory and stores control, Project Management

1. Inventory  and Stores Control : Inventory  control is  a systematic procedure  for  ensuring  the  availability  of items necessary to meet the  production  requirements  at optimum  cost. It  includes:

a. Requisition of  materials according to requirements at appropriate time.

b. Keep  updates records of the materials received issued and balance.

c. Decision  about the  optimum  size  of the order ( EOQ)

2. Receiving and Stories : The main  activities of  this section are:

a. To accept the delivery of purchased materials to verify them with the purchases order and  packing  slip  to inspect them and to prepare the goods received not  for stores accounts and  to route  the received materials  to stores or user department.

b. To store the materials properly according to the policy and ensure their  quick identification.

c. To verify the materials physically at periodic intervals and to record discrepancy if any along  with the  reasons.

3. Shipping / Physical Distribution : It  is concerned with the  distribution of the finished  goods from  the production  department and to verify the quality:

a. To  receive the finished goods from the production departments  to verify them and store  them properly till they are distributed.

b. To pack  and label the finished goods to make than  ready for transport to customers.

c. To prepare shipping documents such a packing slip  bill of material railway receipt lorry  receipt etc.  Which  are forwarded with  the shipment?

d. To  report about  the shipment to the accounting department for billing the customer  to sales  department  for order closing and customer  notification.

4. Material Handling : The  material  handling function involves:

a. To handle  in plant  materials through trucking  pallets containers etc.

b. To maintain the  material  handling equipments and other incidental items like  pallets  containers etc.

5. Traffic : Traffic  function is concerned with  the incoming  consignments  of raw materials and outgoing shipments  of finished  products. The  former  is sometimes  attached to the receiving  function  and the  latter  to shipment. However  when the  company maintains its own  traffic fleet or it the traffic services are  hired on regular basis, it  can exist as a separate function of materials management . it includes:

a. To carry raw   materials from the supplier plant or railway goods office or such  destinations.

b. To carry  finished  goods to   customers  railway  goods  office branch wholesalers or retailers.

c.  To administer freight rates routes etc. If  transport services are hired.

d. To  maintain  the fleet to  delivery  vans if vehicles are owned by the company.

Posted Date: 2/25/2013 7:04:58 AM | Location : United States







Related Discussions:- Inventory and stores control, Assignment Help, Ask Question on Inventory and stores control, Get Answer, Expert's Help, Inventory and stores control Discussions

Write discussion on Inventory and stores control
Your posts are moderated
Related Questions
using the operating cycle and any other financial management knowledge,discuss the applicabilty of such cycle to poultry

J Company is a retailer of fashion goods operating in a highly competitive market place. The Board of the company has given the go-ahead to redesign the company's website to make i

Explain the relationship between organisational competences and decisions relating to the contracting out of activities. Organisational competences A competence is an mehod

Product/Service and Volume Flexibility Ability to respond fast to the customer's needs known as flexibility.Two forms of flexibility are product/ Service and volume flexibilit

How are the conceptual skills required for a successful manager? Conceptual skill is the capability to observe the organization as an entire, to recognize inter-relationships i

QUESTION a) Project management activities are carried out in a planned manner. List the distinguishing characteristics of a project? b) During project management meetings, t

Increasing interest is being taken in the employ of quick application development. Why is that, and are there any dangers related with the RAD approach? RAD has come to promine

Question 1: In order to meet the constant changing requirements of the modern business world, organisations are compelled to develop flexibility plans. (a) Explain the vario

Process Planning Process planning is the systematic determination of method or process by which the product is to be manufactured economically and competitively within the limits

Tools and Techniques of Layout Planning - Templates Templates are most commonly employed when preparing layouts. Templates are two dimensional (2D) or block templates consist