Stock procurement

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The term stock procurement refers to a procurement concept within procurement logistics in which an explicit inventory is created in order to achieve a decoupling of procurement market and production . The procurement of stocks contrasts with the individual procurement and the production-synchronous procurement ( just-in-time production ).

The resulting from the stock purchase material buffer storage allows for a decoupling of production from the procurement market and guarantees the company at the same time over a certain independence the supplier and the market place. This can be an advantage especially for scarce goods. In addition, this type of procurement allows so-called balancing, speculative and safety stocks to be held.

Conditions of use

With regard to the quantity-value ratio, materials with a high proportion of quantity and a low proportion of value are particularly suitable for the inventory policy. See also ABC analysis . The diverging demand and delivery structure, the storability of the material, as well as sufficient storage capacities are among the most important conditions for the choice of stock procurement. Stock procurement is most common in industrial companies and is usually used for less value-intensive goods and for mass and series production.

On the part of the company there are some decision alternatives that must be taken into account when purchasing supplies:

  • Range:

With regard to the range, procurement of stocks is an advantage if the range is wide and deep.

  • In-house production or external procurement:

There is more of a preference for in-house production in order to achieve a certain independence from the suppliers.

  • Storage location:

The tendency towards central warehousing enables easier inventory control. In addition, so-called block storage is the most used as a cheaper variant.

  • Order:

Since the required quantities and order times are not directly linked to production and therefore cannot be directly calculated in advance, stock procurement provides for variable order quantities and / or variable order periods.

With this procurement policy , the order is placed on the one hand when the reorder level specified by the company is reached in the warehouse, but on the other hand also before production or before a customer order is available. The order quantities within the stock procurement are generally higher than the current requirements for production. The order quantity to be determined can vary due to the different requirements.

advantages

  • if high shortage costs justify the storage costs
  • if the required quantity and time cannot be precisely planned
  • if more costs (order processing costs, transport processing costs, transport costs) can be saved by reducing the order frequency than are incurred through capital commitment and storage
  • if certain risks such as delivery bottlenecks and production disruptions are to be expected
  • if the supplier grants volume discounts or other reductions due to the high purchase quantities or the order frequency
  • if, on the basis of price fluctuations on the procurement market, stocks arise due to speculative purchases

disadvantage

  • high capital commitment
  • high interest and storage costs (personnel, space, maintenance, etc.)
  • Risk of obsolescence and, under certain circumstances, deterioration in the quality of the stocks

For this reason, excessive stocks should only be kept if the company is liquid.

literature

  • Oskar Grün: Industrial materials management. In: Marcell Schweitzer (Ed.): Industriebetriebslehre. 2nd Edition. Munich 1994, pp. 447-568, ISBN 3-8006-1755-2
  • Gerhard Oeldorf / Klaus Olfert: materials management . 12th edition. Publishing house Kiehl. Ludwigshafen 2008. ISBN 3-470-54142-6
  • Ruth Melzer-Ridinger: Materials Management and Purchasing . 4th edition. R.Oldenbourg Publishing House. Munich-Vienna 2004. ISBN 3-486-25903-2