Indian Railway Codes and Manuals-Stores code- Vol-I-Chapter-2 (II)

 


CHAPTER-II

Stores Nomenclature and Price Lists

201. Standard Classification of Stores.—The following is the standard classification of the railway stores which should be strictly followed on all railways. Railway Stores have been divided into 75 groups, the group number being specified as the first two digits in any price listNo. pertaining to that group.     

Within each group there will be sub-groups to broadly identify groups of items within the main group. Details of sub-groups within each group are placed at Appendix-I. The two digits following the main group identify sub-group in a price list number pertaining to the main group. 

201.    Out of the 75 groups under which the railways stores have been classified, some of the groups are unified. Under unified groups, any particular item is identified on all railways with one PL No. Individual railways shall therefore not allot regular PL Nos. to individual items under the unified groups and this will be done only by the railway that originally prepared the unified price list book. List of groups that are unified and the individual railways which have prepared the unified groups is placed at Appendix II. 

(Authority : Ministry of Railways, letter No.2020/RS(IC)/165/1 dt.11.11.2020 )

202.    Standard Nomenclature of Stores.—The nomenclature of each of the several items of stores in each of the classes referred to in paragraph 201 should be strictly in accordance with that prescribed in a printed standard nomenclature list, each item of which shall be assigned a number, reference to which will serve to identify the article completely. 

203.    The items of each class in the list shall be arranged in alphabetical order, the name of the article or commodity being placed first, followed by its description and lastly where necessary, the purpose for which it is used. 

204.    Part Number Code.—for items that cannot be adequately described without mentioning the purpose for which they are intended, indicating letters should be prefixed to the numbers according to a Standard Code for such items. 

205.    Standard Specifications & drawing.—Standard specifications and drawings of raw & manufactured materials are prescribed by the Rly. Board, RDSO and the General Managers from time to time and price list should give a reference to the code numbers of such specifications. stores which do not specify the standard specifications and drawings should gradually be worked out and substituted in time those which do so.   List of standard specifications which have been adopted for use on Indian Railways are issued by Rly. Board/RDSO from time to time. Indian Railways standard specifications are also issued by Rly. Board & RDSO from time to time for certain items. List of items for which IRS drawings exist are circulated through  the quarterly notifications issued by RDSO. All materials indented by the consumers and procured by the C.O.S., should, where I.R. Standard exist conform to such standards. 

206.    To enable consuming departments to exhaust supplies of obsolete and non-standard materials in stock as rapidly as possible, in preference to other items, such items should be distinguished from the rest in the printed nomenclature lists, in some suitable manner. 

207.    The units to be used in accounting for quantities of receipts or issues for each item of stores should be shown in the printed nomenclature lists.   Such units shall be those adopted generally and in the largest number of cases for the issue of the items.   The employment of dual units of measurement in price lists and ledgers for any item of stores is prohibited.   The list of codes in use for units of accountal is placed at Appendix III. 

208.    The nomenclature lists, referred to also as Priced Stores Lists or Price Lists, which should be in the following form are not intended for the pricing of issues of stores but for supplying consuming Departments with a list of stores showing their correct description and identifying numbers.

209. The Price Lists should be kept up-to-date by the prompt issue of serially numbered correction slips of a standard size which could be conveniently filed. All corrections in Price Lists, except those in which a whole page is substituted, should be carried out in manuscript in ink. 

210.    Rates for New Stores.—(a) Stores Purchased. —The rates for 'new' stores should be the 'average book rate' or the 'current market rate' whichever is less.   The average book rate is the rate arrived at by dividing the value balance shown in the priced ledgers by the quantity balance.   The current market rate is, in the absence of any special notification by the Controller of Stores, the last purchase price paid for other than petty supplies.   When there have been no recent purchases (i.e. within three years), the current market rate should be ascertained and fixed by the Controller of Stores. 

Note.— When the last purchase price or the current market rate is lower than the average book rate by 10 per cent or more, or when, though the variation is less than 10 per cent special circumstances justify the revision of the average book rate, the balance of stores in stock should be re-valued at the lower rate and the difference between the two balances adjusted against Stock Adjustment Account (See also paragraphs 2554 and 2560). 

(b) Workshop Manufactured Stores. —The Price list rates for workshop manufactured stock items would be the rates fixed half yearly by the Mechanical Department and the average book or ledger rates will be the price list rates in force from time to time necessary revaluation of balances in stock being made at each revision of the price list rate (see also paragraphs 1535 to 1537). 

211. Schedule of Scrap. —The rates for scrap materials should be included in the Schedule of Scrap. These rates should be revised as frequently as necessary and not less frequently than once a year by the Controller of Stores in consultation with the Chief Accounts Officer with reference to the best data available, such as the average prices realized at recent auction sales. If there is any difference of opinion between the Controller of Stores and the Chief Accounts Officer on the subject the matter should be referred to the General Manager whose decision will be final. 

212. Book Rate for Scrap. The schedule rate will ordinarily be the book rate for all receipts and issues of scrap from and to departments of the railway. When the schedule rate is revised and is lower than the previous rate the balances in hand should be revalued at the revised rate by operating on the Stock Adjustment Account. If, however, the revised rate is higher than the previous rate, the following procedure should be followed :— 

(a) The existing stock should not be revalued at the revised rate ; 

(b) Future receipts should be credited at the revised rate ; and, 

(c) Issues should, however, be priced at average rates struck on the priced ledgers as and when required. 

Multiple choice questions:

1. How many groups are the railway stores divided into according to the standard classification?

a) 50
b) 60
c) 75
d) 100

Answer: c) 75

2. Who is responsible for allotting regular PL Nos. to individual items under the unified groups?

a) The General Manager
b) The individual railways
c) The railway that originally prepared the unified price list book
d) The Ministry of Railways

Answer: c) The railway that originally prepared the unified price list book

3. What should the nomenclature of each item of stores be in accordance with?

a) A standard operating procedure
b) A printed standard nomenclature list
c) The discretion of the Controller of Stores
d) The preferences of the individual railways

Answer: b) A printed standard nomenclature list

4. How should items of each class in the list be arranged?

a) By price, from lowest to highest
b) By the frequency of use
c) In alphabetical order
d) By the date of acquisition

Answer: c) In alphabetical order

5. What should be used for items that cannot be adequately described without mentioning their purpose?

a) A detailed description
b) A special prefix code
c) A numerical code
d) A color-coding system

Answer: b) A special prefix code

6. Who prescribes the standard specifications and drawings for raw and manufactured materials?

a) The General Manager
b) The Railway Board, RDSO, and the General Managers
c) The Ministry of Railways
d) The Controller of Stores

Answer: b) The Railway Board, RDSO, and the General Managers

7. What should be done with obsolete and non-standard materials in stock?

a) They should be stored indefinitely
b) They should be sold immediately
c) They should be distinguished from the rest in the printed nomenclature lists
d) They should be returned to the supplier

Answer: c) They should be distinguished from the rest in the printed nomenclature lists

8. What units should be used in the printed nomenclature lists for accounting for quantities of receipts or issues?

a) Metric units only
b) Dual units of measurement
c) Generally adopted units for the largest number of cases
d) Customary units

Answer: c) Generally adopted units for the largest number of cases

9. What is the primary purpose of the Price Lists?

a) For pricing issues of stores
b) For supplying consuming Departments with a list of stores showing their correct description and identifying numbers
c) For inventory audits
d) For financial reporting

Answer: b) For supplying consuming Departments with a list of stores showing their correct description and identifying numbers

10. How should corrections in the Price Lists be carried out, except when a whole page is substituted?

a) In pencil
b) In manuscript in ink
c) By printing new lists
d) By verbal instructions

Answer: b) In manuscript in ink

11. What should be the rate for 'new' stores?

a) The highest market rate available
b) The average book rate or the current market rate, whichever is less
c) The most recent purchase price
d) A rate decided by the General Manager

Answer: b) The average book rate or the current market rate, whichever is less

12. Who should fix the rates for workshop-manufactured stock items?

a) The Finance Branch
b) The General Manager
c) The Mechanical Department
d) The Controller of Stores

Answer: c) The Mechanical Department

13. How often should the rates for scrap materials be revised?

a) Every six months
b) Annually
c) Monthly
d) As infrequently as necessary

Answer: b) Annually

14. If the revised schedule rate for scrap is lower than the previous rate, what should be done with the balances in hand?

a) They should be sold immediately
b) They should be revalued at the revised rate
c) They should remain at the previous rate
d) They should be discarded

Answer: b) They should be revalued at the revised rate

15. If the revised rate for scrap is higher than the previous rate, how should existing stock be handled?

a) Revalued at the revised rate
b) Credited at the revised rate
c) Priced at average rates struck on the priced ledgers as and when required
d) Not revalued at the revised rate

Answer: d) Not revalued at the revised rate

16. What should be done with future receipts of scrap when the revised rate is higher than the previous rate?

a) Credited at the revised rate
b) Stored separately
c) Sold immediately
d) Priced at the old rate

Answer: a) Credited at the revised rate

17. How should issues of scrap be priced when the revised rate is higher than the previous rate?

a) At the revised rate
b) At the previous rate
c) At average rates struck on the priced ledgers as and when required
d) Based on the market demand

Answer: c) At average rates struck on the priced ledgers as and when required

 

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