BAM 226 – STORE ADMINISTRATION OSUNTECHCOLLEGE 2022/2023 SECOND Semester Examination

OSUN STATE COLLEGE OF TECHNOLOGY, ESA-OKE
FACULTY OF MANAGEMENT AND BUSINESS STUDIES
SECOND SEMESTER EXAMINATION 2022/2023
ACADEMIC SESSION
DEPARTMENT: BUSINESS ADMINISTRATION AND MANAGEMENT
LEVEL: ND II
COURSE TITLE: STORE ADMINISTRATION
COURSE CODE: BAM 226
INSTRUCTIONS: Attempt Any Four (4) Questions
DURATION: 2 Hrs

Question: QUESTION ONE
i. State and Explain the responsibilities of store management.
Answer:
The responsibilities of store management include:

1. Inventory Control: Ensuring accurate tracking of stock levels, minimizing overstocking or stockouts, and conducting regular audits.
2. Safety and Security: Implementing measures to protect stored goods from theft, damage, or deterioration (e.g., pest control, climate control).
3. Record-Keeping: Maintaining detailed records of receipts, issues, and returns to ensure accountability and transparency.
4. Staff Supervision: Training and managing store personnel to follow procedures and maintain efficiency.
5. Coordination with Departments: Collaborating with procurement, production, and sales teams to ensure timely availability of materials.
6. Cost Management: Reducing storage costs through efficient space utilization and minimizing waste.

Question: QUESTION TWO
i. State and explain the functions of Store in an establishment.
Answer:
The functions of a store in an establishment are:

1. Receiving Goods: Inspecting and accepting deliveries to ensure quality and quantity match purchase orders.
2. Storage: Organizing goods systematically (e.g., categorization, labeling) to optimize space and accessibility.
3. Issuing Materials: Distributing items to departments as per requisitions while maintaining records.
4. Inventory Management: Monitoring stock levels, conducting audits, and replenishing supplies as needed.
5. Security: Preventing theft, damage, or unauthorized access through surveillance and access controls.
6. Quality Preservation: Ensuring stored items remain in good condition (e.g., proper packaging, temperature control).

Question: QUESTION THREE
i. Write short notes on each of the following:
Answer:

1. Store Keeping: The operational process of managing and maintaining stock, including receiving, storing, and issuing goods while ensuring accuracy in records.
2. Store Administration: The managerial aspect involving planning, policy formulation, and oversight of store operations to achieve organizational goals.
3. Store: A physical facility or space designated for the safekeeping of raw materials, finished goods, or equipment.
4. Store Administrator: An individual responsible for managing store activities, including staff supervision, inventory control, and compliance with organizational policies.

Question: QUESTION FOUR
i. State four objectives of having a standard Store
ii. State three importance of store functions
Answer:
i. Objectives of a standard Store:

1. Ensure efficient utilization of storage space.
2. Minimize storage costs and prevent material wastage.
3. Maintain accurate records for accountability.
4. Safeguard materials from damage, theft, or obsolescence.

ii. Importance of store functions:

1. Smooth Operations: Ensures uninterrupted supply of materials to production/sales departments.
2. Cost Control: Reduces expenses by optimizing inventory levels and avoiding stockouts or overstocking.
3. Quality Assurance: Preserves the condition of goods, ensuring they meet required standards when issued.