Evaluation of an Academic Libra's Stock Effectiveness

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Abstract
Stock failure rate is a useful indicator for any librarian interested in the continued per formance of his stock in meeting reader needs. It is possible, using this failure survey method, to obtain a precise statement of failure rate. The survey provides information on the proportion of failure due to "titles not owned", "titles not available", and "reader error". Failure slips provide useful additional information on the experiences of library users and on the adequacy of their searching procedures. The method covers a short period and is simple enough for use as a monitor on stock effectiveness. The effects of policy changes on the level of availability such as a variation in the length of the loan period can be examined. Precise failure rates can be produced fairly readily from the data collected by a few interviewers from a small, predetermined number of interviews in one week. It is also possible, using the suggested methodology, to obtain a ratio of internal : external use of books by subject. This project was carried out between June 1974 and February 1975, when Mr. Waters was on secondment to the LMRU. The Unit is supported by grant aid from tht British Library Research and Development Department. The views expressed in this report are solely those of the authors and do not necessarily represent the views of the British Library Research and Development Department or the Unit's Steering Committee.

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