The stock control maintains a set of stock control cards properly classified and codified for various items held in stock.
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Operation Management
CASE STUDY (20 Marks)
The stock control maintains a set of
stock control cards properly classified and codified for various items held in
stock. Minimum and maximum levels are fixed on these cards to effect timely
recoupment as well as to control investment. Stock department based on
requirement of market by various stores raises the purchase requisition which
show the quantity to be ordered and delivery requirements. If the materials do
not arrive in time, the stock control sends a warning to the purchase section
so that purchase department could take a suitable action to expedite supplies.
The stock control also contributes to stock reduction through ABC/VED/FSN
analysis and consumption details etc. for compiling purchase budgets. Traffic
or C and F. The function of the traffic section is to clear goods coming by
rail, sea, air etc as well as to dispatch finished goods. The document relating
to incoming goods are sent to them by the purchase section or accounts
department or directly by the supplies. On receipt of the documents the traffic
section will contact the railway authorities, streamer agent, or airline
office, pay any charges due and take delivery of the goods
Answer
the following question.
Q1.
What is stock control? Discuss one of the methods of stock control in detail.
Q2.
Why the function of traffic section is most important? Explain.
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