Audit of Stores Function

For any manufacturing industry, Stores is the custodian of inventory. Inventory is money (in form of material).

The primary objective of in-factory stores is

• 1. To ensure uninterrupted supply of materials without delay to various production and service departments of the organisation.
• 2. To prevent overstocking and understocking of materials,
• 3. To protect materials from pilferage, theft fire and other risks.
• 4. To minimise the storage costs.
• 5. To ensure proper and continuous control over materials.
• 6. Proper documentation, interaction & coordination

Read More