Concept And Meaning Of Store-keeping ,Its Objectives And Types Of Stores

Concept And Meaning Of Store-Keeping

A store refers to raw materials, work-in-progress and finished goods remaining in stock. Store-keeping means the activities relating to purchasing, issuing, protecting, storing and recording of the materials. Store-keeping includes the receipts and issues of materials, their recording, movements in and out of the store and safeguarding of materials. The store is a service department headed by a store-keeper who is responsible for a proper storage, protection and issue of all kinds of materials.

Objectives Of Store-keeping

The following are the main objectives of store-keeping

* To avoid over and under-stocking of materials.

* To maintain systematic records of materials.

* To protect materials from losses and damages.

* To minimize the storage costs of materials

Types Of Stores

Generally, there are three types of stores

1. Centralized Stores

2. Decentralized Stores

3. Centralized Stores With Sub-stores