Question 4
- State four activities to be performed by a storekeeper to avoid differences in physical and book balance of stock.
- Explain the following terminologies:
- requisition;
- quotation;
- order;
- inspection.
Observation
- Majority of the candidates performed brilliantly well in question 4a.
- Candidates’ performance to question 4b was below average.
4a. Explain the following terminologies:
- requisition;
- quotation;
- order;
- inspection.
Requisition: this is a document used in making a request by the user department from the store house. The requisition will show the type of materials required from these departments.
Quotation: this is a document that originates from protective suppliers to the buyer, giving full details and prices of required items demanded for. It is a response to the enquiry made to the supplier by the buyer.
Order: this is the actual placing of a request for supply under a contractual agreement with the supplier. It must state the quantity required of the items, price and terms of delivery as already indicated in the quotation or tender documents.
Inspection: when the goods have been delivered by the supplier, the storekeeper or the receiving department inspects the materials in order to verify that the items meet the specifications of the order.