What do you think should the objectives of an efficient system of storekeeping

February 21st, 2012 Comments off
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Inventories whether they are materials, work-in-progress and finished goods constitutes a large part of cost for an organization. It is therefore important to understand the following major objectives of an efficient system of storekeeping which are as follows:-

  1. That not too much inventories is held
  2. That not too little inventories is held
  3. That loss of materials/inventories are minimized; and
  4. Inventories/materials  are readily located and available.

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Financial Accounting


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