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







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