Biswajit Das
Sep 8
What are the various methods of issuing stores?
Material management
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ChatGPT
Sep 8
1. Direct issue method: In this method, stores are issued directly from the storekeeper to the department or individual requesting them. This method is commonly used for small, low-value items.
2. Requisition method: In this method, stores are issued based on requisitions submitted by the department or individual in need of the items. The requisition is typically approved by a higher authority before the stores are issued.
3. Issue against job order: Stores can be issued against a specific job order or project. This method ensures that stores are used for the intended purpose and helps in tracking the usage of stores for each job or project.
4. Issue against issue voucher: Stores can be issued against an issue voucher, which is a document that specifies the quantity and type of stores being issued. This method helps in maintaining proper records of stores issued and ensures accountability.
5. Issue against work order: Stores can be issued against a work order, which is a document that authorizes the use of stores for a specific task or job. This method helps in tracking the usage of stores for different tasks and projects.
6. Issue against production order: Stores can be issued against a production order, which is a document that authorizes the use of stores for manufacturing or production purposes. This method helps in tracking the usage of stores for production activities.
7. Issue against transfer note: Stores can be issued against a transfer note, which is a document that authorizes the transfer of stores from one location to another within the organization. This method helps in tracking the movement of stores between different locations.
2. Requisition method: In this method, stores are issued based on requisitions submitted by the department or individual in need of the items. The requisition is typically approved by a higher authority before the stores are issued.
3. Issue against job order: Stores can be issued against a specific job order or project. This method ensures that stores are used for the intended purpose and helps in tracking the usage of stores for each job or project.
4. Issue against issue voucher: Stores can be issued against an issue voucher, which is a document that specifies the quantity and type of stores being issued. This method helps in maintaining proper records of stores issued and ensures accountability.
5. Issue against work order: Stores can be issued against a work order, which is a document that authorizes the use of stores for a specific task or job. This method helps in tracking the usage of stores for different tasks and projects.
6. Issue against production order: Stores can be issued against a production order, which is a document that authorizes the use of stores for manufacturing or production purposes. This method helps in tracking the usage of stores for production activities.
7. Issue against transfer note: Stores can be issued against a transfer note, which is a document that authorizes the transfer of stores from one location to another within the organization. This method helps in tracking the movement of stores between different locations.
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Google Gemini AI
Sep 8
1. Fixed Quantity Issue Method:
- Stores are issued in predetermined quantities at regular intervals.
- Suitable for items with stable demand, such as stationary or office supplies.
2. Minimum Level Issue Method:
- Stores are issued when the stock level reaches a predetermined minimum.
- Helps prevent stockouts, but may result in overstocking.
3. Maximum Level Issue Method:
- Stores are issued up to a predetermined maximum level.
- Prevents overstocking, but may lead to stockouts if demand exceeds expectations.
4. Variable Issue Method:
- Stores are issued based on actual need, as determined by a requisition or order.
- Provides flexibility to meet fluctuating demand.
5. Periodical Issue Method:
- Stores are issued at predetermined intervals, regardless of stock levels.
- Simplifies stock management, but may not align with actual need.
6. Kanban Issue Method:
- A visual system where the number of items to be issued is indicated by a card or container.
- Signals the need for replenishment when the container is empty.
7. Just-in-Time (JIT) Issue Method:
- Stores are issued only when they are needed for production or operations.
- Minimizes inventory levels, but requires careful planning and coordination.
8. First-In-First-Out (FIFO) Issue Method:
- Stores are issued in the order in which they were received.
- Ensures that older items are used first, preventing obsolescence.
9. Last-In-First-Out (LIFO) Issue Method:
- Stores are issued in the reverse order in which they were received.
- May result in higher inventory costs during periods of inflation.
10. Average Cost Issue Method:
- Stores are issued using an average cost calculated from all units in inventory.
- Simplifies accounting but may not accurately reflect actual costs.
- Stores are issued in predetermined quantities at regular intervals.
- Suitable for items with stable demand, such as stationary or office supplies.
2. Minimum Level Issue Method:
- Stores are issued when the stock level reaches a predetermined minimum.
- Helps prevent stockouts, but may result in overstocking.
3. Maximum Level Issue Method:
- Stores are issued up to a predetermined maximum level.
- Prevents overstocking, but may lead to stockouts if demand exceeds expectations.
4. Variable Issue Method:
- Stores are issued based on actual need, as determined by a requisition or order.
- Provides flexibility to meet fluctuating demand.
5. Periodical Issue Method:
- Stores are issued at predetermined intervals, regardless of stock levels.
- Simplifies stock management, but may not align with actual need.
6. Kanban Issue Method:
- A visual system where the number of items to be issued is indicated by a card or container.
- Signals the need for replenishment when the container is empty.
7. Just-in-Time (JIT) Issue Method:
- Stores are issued only when they are needed for production or operations.
- Minimizes inventory levels, but requires careful planning and coordination.
8. First-In-First-Out (FIFO) Issue Method:
- Stores are issued in the order in which they were received.
- Ensures that older items are used first, preventing obsolescence.
9. Last-In-First-Out (LIFO) Issue Method:
- Stores are issued in the reverse order in which they were received.
- May result in higher inventory costs during periods of inflation.
10. Average Cost Issue Method:
- Stores are issued using an average cost calculated from all units in inventory.
- Simplifies accounting but may not accurately reflect actual costs.
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