The word “store management” refers to effective material management. It guarantees that all of the many operations involved in the storekeeping process are completed in a cost-effective and efficient manner.
“Store management is to accept items, to preserve them from damage and unlawful removal while in storage, to issue the materials in the appropriate quantities, at the right time, to the right place, and to deliver these services promptly and at a minimum cost,” Maynard says.
Store Management minimizes the cost of production by maintaining the worth of stock and minimizing customer retraction by fulfilling their demand on time.
Material management is only possible if accurate store records are kept. Stores play an essential role in day-to-day business. The goal of retailers is to ensure that goods and services are available at all times. Managing the stores’ guarantees that all projects, large and small, are effectively managed. The primary role of storekeeping is to receive materials, identify them, store them, and issue raw supplies in response to requisitions from other departments.