After reading this article you will learn about: 1. Meaning of Inventory Control 2. Classification of Inventory Control 3. Commonly used Inventory Control Items 4. Stock levels 5. Levels of Materials. Meaning of Inventory Control: Inventory control can be defined as the system used in a manufacturing concern to control the firms investment in Stock. The system involves the recording [...]
In this article we will discuss about Store Keeping:- 1. Importance of Store-Keeping 2. Functions of a Store-keeper 3. Organisation of Stores 4. Store Layout 5. Centralised Stores. Contents: Importance of Store-Keeping Functions of a Store-keeper Organisation of Stores Store Layout Centralised Stores 1. Importance of Store-Keeping: The cost of materials is one of the largest elements of cost. Proper [...]
After reading this article you will learn about: 1. Introduction on Purchasing of Materials 2. Centralised and Decentralised Purchase 3. Purchase Routine 4. Purchase Requisition 5. Specification of Materials or Bill of Material 6. Time of Purchase 7. Purchase Quantity 8. Purchase Order 9. Purchase Procedures and Others. Introduction on Purchasing of Materials: In a manufacturing concern there is a [...]