Store management, requisitions, store keeping, and stock keeping are closely related functions that
ensure inventory is accurately controlled, available when needed, and financially tracked. Below is a
concise overview of each area and how they interrelate, along with practical practices you can adopt.
Direct answer
Store management is the overarching discipline that plans, organizes, and controls all activities related
to receiving, storing, safeguarding, issuing, and disposing of goods in a business’s storage facility. It
includes policy development, process design, personnel management, and performance monitoring. Key
aims are accuracy, efficiency, and cost control.
Requisition for stores (stores requisition) is the formal process by which a department requests
materials from the store. It typically involves authorization, documentation, and traceability to ensure
only needed items are released and properly charged. Effective requisition controls reduce waste and
prevent unauthorized stock removal.
Store keeping (storekeeper duties) refers to the operational role of handling day-to-day inventory
activities: receiving, inspecting, numbering, labeling, storing, issuing, and reporting stock. It emphasizes
accuracy in stock records and secure custody of goods.
Stock keeping (inventory management) focuses on maintaining correct stock levels, minimizing
stockouts and overstock, and optimizing stock turnover. It uses records, cycles counts, and reconciliation
with physical counts to ensure financial accuracy.
Core components and best practices
Clear policies and procedures
Establish standard operating procedures (SOPs) for receiving, storage, issuing, and returns. Include
documentation requirements, authorization steps, and segregation of duties.
Accurate records and visibility
Maintain up-to-date stock records in an inventory system, with real-time or near real-time updates
whenever stock moves. Regular reconciliation through physical counts is essential.
Requisition controls
Implement authorization workflows, sequentially numbered requisition forms, and defined approval
limits to prevent fraud and misuse. Require job or project codes for proper cost allocation.
Segregation of duties
Ensure different individuals handle requesting, approving, and issuing stock to reduce risk of
misappropriation.
Inventory optimization
Use ABC analysis, reorder points, and safety stock calculations to balance service levels with carrying
costs. Regularly review turnover and obsolescence.
Physical safeguards and process discipline
Secure storage areas, proper labeling, and organized layout to reduce handling errors and facilitate
quick inventory checks.
Documentation and auditability
Keep copies of requisitions for requesting department, stores, and accounting; perform periodic internal
audits to verify compliance and investigate discrepancies.
Costing and accountability
Tie each requisition to a project or job code for accurate cost allocation and timely financial reporting.
Roles and typical responsibilities
Store manager/ Stores manager
Develop and enforce store policies; supervise store staff; manage relationships with procurement and
accounting; monitor KPI performance.
Storekeeper
Receive goods, inspect against purchase orders, label and place in appropriate locations, issue items
against approved requisitions, and maintain stock records.
Inventory controller / stock keeper
Monitor stock levels, run cycle counts, reconcile records, and coordinate with purchasing and finance on
variances.
Approving authority
Approvers authorize requisitions up to defined limits, ensuring necessity and budget compliance.
Key performance indicators (KPIs)
Inventory accuracy (physical counts vs. system records)
Stock turnover and days of inventory on hand
Requisition cycle time (from request to issuance)
Stockout rate and fill rate
Shrinkage and variances (theft, damage, misplacement)
Cost per unit and variance analysis linked to job codes
Implementation considerations
Start with a clear design of the requisition workflow, including required fields, approvals, and system
updates.
Introduce a simple, scalable inventory system (even a spreadsheet initially) and plan for migration to an
ERP or dedicated inventory management system as needs grow.
Train staff on processes, importance of accuracy, and the consequences of deviations.
Schedule regular audits and continuous improvement reviews to address bottlenecks and control gaps.
If you’d like, I can tailor this to a specific sector (retail, manufacturing, healthcare, construction) or to a
particular operation size and provide a checklist or a sample SOP for stores requisition and stock
keeping.