Question

Discuss and differentiate between the 3 types of store Management in Centralia​

Answer 1

Difference # Open Store System:

1. There is no specific storage area. Stores are maintained in the form of Suitable/convenient locations.

2. Every individual has access to anystorage facility.

3. After the receipt of the material it is delivered to respective department to expedite the production activity.

4. Chances of Pilferage high.5. Less emphasis on accounting control of the material.

Difference # Closed Store System:

1. All materials are stored in a closed/controlled area.2. No other person than the stores personnel is permitted in the area.

Materials can leave or enter the storage area only by authorised documents.

4. Maximum Physical Security.

5. Tight accounting control of inventory material.