Importance of Storage in material management
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Importance of Storage in material management : The concept of storage/warehouse has been
known since time immemorial. Supplies of essential commodities are offer in
excess when not needed and scarce when required to effectively compact the
uncertainties in their availability, management has to adopt better method of
storage one of the earliest recorded narratives of organized storage is the
story of Joseph in the ‘Old Testament’.
Expansion of trade and commerce has enhanced the need for proper storage
of materials
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Through the concept of warehouse has been prevent for over 2000 years,
the warehouse has not yet obtained derecognition. In fact it is conserved as a
dumping ground in quite a few organizations. To correct this correct this erroneous impression and ensure optimal utilization of warehouse, scientific principles of management need to be applied.
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Importance of Storage in material management: It takes considerable time may be a year or so in
some cases before in identified need is converted into available material ready
for use and this time is called lead time. Materials have to be held in stock
to meet consumption requirements of this period.
The stock of inventory maintained the storages provides for this
contingency. Materials are also stocked for speculative purpose, expecting.
The warehouse should supply goods of the right quality at the time in the
right quantities to meet the pace of consumption. It has to forecast the demand
to enable procurement, receive, handle, store and transport material without
breakages or losses, and reduce wastages and obsolescence.
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