Store Management Practices in Medium Scale Engineering Firm

The space, room and the building where various types of materials, semi finished, finished goods and items purchased and manufactured in the organization are kept temporarily or for sufficient time till they are removed to supply for production and sale or used for consumption is called a Store or Warehouse. Finished parts or products ready for shipment and sale are called stock and they are separately stored in a place called stock room. Each and every type of material needs a separate place, bin or container and a room to keep it and the type of store depends upon the type of material which is stored there. The part of material enters directly at the production facility after its purchase and rest is supplied to the stores. The part coming out from production facility, some of them enters the production center or facility and rest are stored. In the same way, components produced at some facility are sent to assembly center and rest are stored. Finally, the output is the final product sent to stock or sell. This process of supplying and storing the various materials and parts is called Stores Management. As per the demand and requirement of materials at the production facility, the materials are supplied from the stores. The storage of materials maintains the continuity in production. Mr. Shrikant S. Karanjkar "Store Management Practices in Medium Scale Engineering Firm" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | Fostering Innovation, Integration and Inclusion Through Interdisciplinary Practices in Management , March 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23088.pdf