MANAGEMENT AND CONTROL OF INVENTORY IN A MANUFACTURING ORGANISATION
ABSTRACT
The purpose of this study is to examine the effectiveness of inventory control in manufacturing industries with particular reference to S. I. O. Industry Ltd Asaba.
Due to the unprecedented growth in manufacturing and merchandising industries over the years, inventory has been accorded the save Center of those industries. It therefore follows that in trying to hold the industries in these should be adequately and properly controlled with a view to minimizing costs.
Hence, in conducting research, the researcher made use of Oral interview and questionnaire; she also reviewed other related literatures necessary to provide the required data for the study. The data collected for the study were analyzed in tables using Chi Squares.
The findings were that through the management hires as much as the can, there are lapses in the inventory Control System also in the valuation of stock, the researcher found out that the company uses the first – in – first – out (FIFO) method of stock valuation in valuing her stock.
This is because of inherent benefits in it and commended by the SAS, IAS and SSAP.
Based on findings, we have recommended among other things that the local source of ratio materials should be made to supply the firm when required.
CHAPTER ONE
Introduction
1.1 Background Of The Study
SIO AGRO and ALLIED INDUSTRIES LIMITED is a processing industry involved in agricultural and similar products processing. The industry went into production in 1980 with fire board members. It is situated in the North East of Asaba Delta State. It has a total staff of 120 as at the end of july 1994.
SIO AGRO and ALLIED INDUSTRIES LIMITED commenced business with total capital of SIO AGRO and ALLIED INDUSTRIES has risen to N150, million in cash and assets. In purshance of its social responsibility SIO AGRO and allied industries as at the end of july 1996 has a total staff of 200. This large number of employees is necessary following the diversification of its products.
The management of the company is unbureautically.
This flexibility in management style give the organization a great deal of specialization.
In this method, Certain amount of rigidity is discourage, this stem creates room for dynamic of employees and lower cost of control and management.
Furthermore, the organization adopts democratic approach to leadership. This approach allows the subordinates to participate in the decision making exercise. It also make decision making exercise. It also make decision flexible and a motivation to the subordinates. Moreso, the organization is structured according to functions performed by the organization were assigned responsibility and authority.
The products of SIO and ALLIED INDUSTRIES are highly diversified to include agricultural products and industrial goods.
Finally, SIO AGRO and ALLIED INDUSTRIES has continued to grow from bound to boased. It recorded a net income of N1.3 million in 1996 and has the prospect of increasing its sales and profit in the nearest future.
1.2 Statement Of Problem
Stock are the grave yard of a business. It then follows that any firm that toils with its material management is doomed to have a financial crisis which will ultimately end the business in its grave. Therefore, the need to have proper inventory management in a manufacturing enterprise cannot be over emphasized. Regrettably, most manufacturing organization have neglected this, thereby resulting in poor performance of such problems as high wastage
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
Management and Control of Inventory in a Manufacturing Organisation can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "Management and Control of Inventory in a Manufacturing Organisation" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- 1.1 Background …
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
CHAPTER THREE
RESEARCH METHODOLOGY
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Population of Study
- 3.4 Sampling and Sampling Technique
- 3.5 Validation of Research Instrument
- 3.6 Method of Data Collection
- 3.7 Method of Data Analysis
- 3.8 Questionnaire Administration
- 3.9 Ethical Consideration
- 3.10 Statistical Analysis
CHAPTER FOUR
DATA ANALYSIS, RESULT AND DISCUSSION
- 4.1 Introduction
- 4.2 Presentation and Analysis of Data
- 4.3 Re-statement of Research Questions
- 4.4 Test of Hypotheses
- 4.5 Discussion of Findings
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Study
REFERENCES
APPENDIX A - “QUESTIONNAIRE”
Disclaimer for Complete Material Utilization
The displayed research work titled "Management and Control of Inventory in a Manufacturing Organisation" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “A Study of Material Management Techniques on Construction Projects of a Medium Size Construction Company” be used as a guide for Building Technology (BT) Project?
Yes it can be used — Construction materials management is a process for planning, executing and controlling field and office activities in construction. The study was carried out to scrutinize the Material Management Techniques on Construction Projects of a Medium Size Construction Company in Nigeria. In achieving this aim, the following specific objectives were laid out to examine the level workers’ motivation in the Nigerian construction industry responsible for poor management of materials and investigate the roots causes of ineffective material management in Nigeria’s construction industry. Investigation revealed that construction industry in Nigeria is faced with certain problems ranging from the poor management of materials to misappropriation of funds required for the completion of the projects. The research design used in this report is descriptive design, …
Can the material for “Post-Reform Appraisal of Commercial Bank Investment and Lending Activities in Nigeria” be used as a guide for Banking and Finance (BF) Project?
Yes it can be used — This research project was centered on appraising the investment and lending activities of commercial banks in Nigeria, in using Diamond bank plc and Afribank Plc as a case study. The overriding objectives were to ascertain the level of reconciliation between profit maximization objective and adequate liquidity, the relationship that exist between deposit level and profit level and the effect of monetary and fiscal policies on investment and lending ability of the commercial banks. In the literature review, such issues were in the highlights − nature of investment and lending, the need for bank lending and investment, Diamond bank Plc and Afribank investment and lending activities. Primary and secondary methods of data collection were used in obtaining relevant information used in …
Is the topic “The Impact of Television Advertising as a Critical Element in Influencing Consumer Choice” recommended for Mass Communication (MC) Project?
Yes it is highly recommended — Television advertising is any paid form of non-personal presentation and promotion of ideas, goods and services through mass media such as newspapers, magazines, television or radio by an identified sponsor. The study was carried out to examine the Impact of Television Advertising as a Critical Element in Influencing Consumer Choice using MTN and Globacom Adverts among UNIZIK Students as a case study. Investigation revealed that there are different contents of these two GSM telecommunication giants MTN and GLOBACOM, like different products, different promos and among others, targeting the same consumers at a time. As a result, there is a serious competition in which each GSM provider tries to influence the perception and choice of their consumers over their products, services, …
Can the material for “Teaching Methods and Students Performance in English Language” be used as a guide for English Education Project?
Yes it can be used — The study was conducted to examine the Teaching Methods and Students Performance in English Language. Investigation revealed that the education system in Nigeria has been in crisis for many years largely due to the fact that the sector is poorly funded. This has led to shortage supply of learning materials and human resources being experienced in the system. Inadequate qualified teachers, high turnover rate of teachers, shortage of classroom, and poor remuneration of teachers and a host of other problems abound in the education sector. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 120 (One hundred and twenty) respondents were selected for this …
Can this topic “Determinants of University Student’s Response to Safety Instructions on Household Products” be used for Vocational Education Project?
Yes it can be utilized for research — This study was carried out to find the determinants of University Students' response to Safety Instructions on Household (pesticide) Products in Imo and Enugu States. Specifically, it sought to find out the determinants of students response to safety instructions, media for receipt and recognition of safety instruction/messages, students' message reading and comprehension, students' message storage and recollection and students' risk perception of safety instructions. Five research questions and hypotheses guided the study. Descriptive survey research design was used and 72 item statement questionnaire and checklist were used for data collection. The questionnaire and checklist were face validated by three experienced University lecturers. The reliability of the instrument was determined using Cronbach-Alpha reliability formula on the responses of 100 undergraduate students randomly …
Can the material for “Parental Literacy, Gender and Cultural Beliefs as Correlate of Secondary School Girls’ Attitudes and Performance in Chemistry” be used as a guide for Education Project?
Yes it can be used — This study investigated the parental literacy, gender and cultural beliefs as correlates of secondary school girls’ attitudes and performance in chemistry. The study employed a descriptive survey research design. An instrument titled: Parental literacy, gender and cultural beliefs as correlates of secondary school girls’ attitudes and performance in chemistry (PLGCBCSSGAPC) was used to collect relevant data for the study. The five secondary schools involved were selected based on simple random sampling technique and the statistical tools employed to analyse the data collected were percentages while the inferential statistics of t-test was used to test the stated hypotheses at 0.05 level of significance. 200 sample sizes were used for the study. 6 research questions and 6 research hypotheses were designed and …
Is the topic “Improving Customers Services in Nigerian Commercial Banks” recommended for Banking and Finance (BF) Project?
Yes it is highly recommended — This project work gives a bird eye view of the problems facing commercial bank customers in Nigeria and the best way to alleviating these stated problems. As the banking industries faces the global challenges of modern banking, the customers who are the strength of the banking industries should not be left out in this development terrain. Chapter one work reveals in full meaning of customer, bank commercial bank and banker. Also a congenial history of commercial bank is treated in this chapter. Chapter two elucidated more on the rights and duties of commercial bank to its customers. Also ways and benefits of good quality services to customers are also highlighted in this chapter. Chapter three embodies the various ways by which the researcher sourced in …
Can the material for “The Effects of Inventory Management in Manufacturing Company” be used as a guide for Accountancy / Accounting Project?
Yes it can be used — The technique of inventory control is indispensable going by their impact in contributing, promoting and ensuring efficiency and effectiveness in any organization. In actual practice the vast majority of manufacturing companies suffer excessive inventories than are necessary. Therefore, inventory control process is much more complex than the uninitiated understand. In fact, inventory control is perceived as little more than a clerical function. This has resulted into lots of material shortages, high costs and loss of profit. This study provides a basis for implementing inventory control policies by service companies, professional managers, especially manufacturers. The aim of these research works is to critically assess the impact inventory control has on the profits of manufacturing companies. Relevant literature on inventory management and control …
Can the material for “Student Examination Result Processing System” be used as a guide for Computer Science (CS) Project?
Yes it can be used — This study was carried out to verify all the manual process involved in generating Students Examination Result and to seek a way of automating the system for effective operations. Since there is continuous moves towards technological advances that enhanced productivity of labor and free human beings of task more economically by machines. Computer and its appreciations have become vital tools in economic, industrial and social development of advanced countries of the world. This system is designed to efficiently handle processes like inputting scores, storing results, classifying the grade points automatically calculated, and interpreting data of students overall result. The usual manual process now reached a level where it is difficult for the available man power to cope with the magnitude …
Can the material for “Design and Implementation of Attendance Management System” be used as a guide for Computer Science (CS) Project?
Yes it can be used — Attendance management system is a software developed for daily student attendance in schools and institutions. The ability to compute the attendance percentage becomes a major task as manual computation produces errors, and also wastes a lot of time. For the stated reason, an efficient attendance management system using biometrics is designed. This system takes attendance electronically with the help of a fingerprint device and the records of the attendance are stored in a database. The aim of the study is to design and develop a reliable, scalable and cost-effective Fingerprint based Student Attendance Management system. In achieving this aim, the following specific objectives were laid out to carry out the analysis of manual processes involved in class attendance and examination …