Diploma in Library and Information Science MLAIC Notes
Institution: College
Course: Diploma in Library and information science
Content Category: Assessment Rubrics
Posted By: Jmwanjohi2542017
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Summary
Diploma in Library and Information Science MLAIC Notes
MLAIC is a third year unit in Library and Information Science.
STOCK CONTROL.
Definition: This is the process of ensuring that the stock held by the organization is supplied to all parts or sections or departments that require them bearing(keeping in mind factors of Time, Quantity and Quality ) i.e the basic concept of stock control is in right quantity and quality, right time and place.
This stock control has to be achieved bearing in the limitation of the cost of the stock being kept.
They are several basic costs incurred by the organization while keeping the stock.
These costs are:-
a) Costs for handling the materials:- This involves the storage facilities, labour, time, equipment and other necessary materials that are required which may be expensive.
b) Maintanance of the stock:- This involves preserving the stock i.e protecting from damage by ensuring condusive environment environment for storage e.g proper lightining, ventilation heating etc.
c) Administration of stock:- This involves all the processes done like receipt, issueing of stock, recording keeping etc.
d) Th insurance of Stock:- This involves the insurance cover against some disasters e.g fire, floods, accidents etc. The stock should be insured by paying required premium.
e) Obsolences Stock:- These are the stock that is obselete and therefore it adds to the total of storage cost.
f) Security of Stock:- The stock should be kept in the secure conditions or place and this adds to the cost of storage.
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