What are the functions of stores department?

The stores department has many functions that include:

• Inspection and acceptance of incoming products.
• Identification and temporary storage.
• Movement of goods where needed.
• Inventory accounting and records management, and finally.
• Packaging and shipment.

What is the contribution of the procurement function to a company’s profitability?

The contributions of purchasing towards the profitability of an organization is to maintain a continuous supply of material to support the company’s operation, and to provide raw material in an organization as in star paper mill limited, Aba, Abia State. ( as a case study)

What is the importance of stores keeping?

Proper storing of materials is very important to prevent losses from damage, pilferage and deterioration in quality of materials. The stores must, therefore, be properly organised and equipped for the handling of raw materials.

What are the objectives and functions of stores management?

Objectives of store management

• To ensure uninterrupted supply of materials without delay to various users of the organization.
• To prevent overstocking and under stocking of the materials.
• To ensure safe handling of materials and prevent their damage.
• To protect materials from pilferage, theft, fire and other risks.

How can purchasing help to improve the competitive advantage of an organization?

Purchasing departments can help to improve quality by establishing target performance levels for quality and then tracking performance against those targets. Critical to quality characteristics is a typical metric used to measure things such as durability, the look and feel of the product or the timeliness of delivery.

What are the objectives of stores?

Objectives of Store keeping To prevent over-stocking and under-stocking of materials. To check all materials in terms of quality and quantity. To minimize storage costs. To ensure effective and continuous control over materials.

How can an effective purchasing department affect organizational performance?

Why is purchasing procurement important?

The procurement process refers to the identification and implementation of certain steps by businesses to ensure they can acquire goods and services to meet their requirements and achieve their objectives. A procurement process is important because it has a direct impact on how much a business can save.