Material Planning This consists of ascertaining the need of the various departments in the matter of materials and stores and devising such policies that all the materials which have constant demand and also some critical non-wearing materials are constantly available so that they are supplied to the user departments without delay. This includes classification / categorization of items, codification, designing of recoupment policies, taking `make or buy' decision and also preparation of stores budget.
Procurement of Stores This includes purchase of materials of required quality and quantity at reasonable prices.
This activity also includes development of sources of supply with due emphasis to development of ancillary industries, small scale industries and indigenous sources for imported items (import substitution). This also includes, maintaining constant touch with the market to ensure steady flow of materials.
Receipt & Inspection of Stores This includes taking delivery of materials from carrier, checking of quantity and quality and their accountal.
Store Keeping This includes stocking of materials in the wards, their handling, issuing on demand by indentors and maintaining proper records.
Distribution of Stores This includes timely dispatch and distribution of materials to various users by adopting quick and right mode of transportation.
Collection, accountal and disposal of scrap This activity is main revenue earning activity of Stores Department these days. On Indian Railway, sale of scrap is of the order of Rs.1000 crores.
Inventory Control This includes maintaining an economic level of investment in inventories.
Cost Reduction Materials Management Department can contribute a lot on cost reduction. Some of the techniques used for this purpose are;
a) Variety Reduction
b) Standardization
c) Value Analysis
d) Forecasting.
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