THE NEED FOR EFFICIENT INVENTORY MANAGEMENT IN A MANUFACTURING COMPANY
ABSTRACT
As the topic state that is “The Need for Efficient Inventory Management in a Manufacturing Company”.
One major component of this cost in many manufacturing organization that desires the attention of management is the investment in inventories otherwise know as stock. One will then say that really manufacturies companies face inventory management problem of what the researcher tried to analyse and bring possible solution to that effect.
The problem associated with inventory management are unavailability of raw material. The determination of optimal level of stock as well as the discrepancy between policy and practice in stock management.
In carrying out the research work, some research questions were asked such as:
- Does inventory planning involve the determination of such factors as market demand and plant capacity?
- Does the company make policy decision about stock management?
- What benefit are derived from maintaining inventory at their level?
The simple random sampling techniques were used and the methods of data collection used were oral interview company.
Journal textbook and questionnaire which were mostly structured the deportment act as source of data for planning and controlling of more our from the analysis of data gathered was revealed that the company make decision about stock management and also that stock can be allowed to leave the store without requisition being made for it in order to meet up with emergency.
Based on the above analysis carried out, it was also gathered that inadequate information flows rapid inflationary pressure as well as organized storage system are factors that militating against efficient inventory management in the company.
Economic order quantity stock budget minimum stock level are used as means of controlling stock.
The research writer recommends that thee company should set up information flow above inventory management and organize a perfect storage system for the stock.
In order to guide against inflation, market price of valuing inventory is recommended there should be optimum stock level to avoid or over stocking
CHAPTER ONE
Introduction
The objective of most business include survived and growth fulfillment of social responsibility and realization of satisfactory profit.
This level of return enables company to have advantage of business opportunities undertake research and innovation which further make for growth and survival in the long run discharge its social responsibilities and its obligations to the owners.
In order to maintain this status quo, it becomes imperative that positive attempt must be made to minimize the operational cost of the business increase production and boost the face of these products.
However, one of the efficient ways of achieving the most desired efficiency in business operation is through education of operational cost to a tolerance level. One major component of this cost in many manufacturing organization that desires the attention of management is the investment in “inventories” otherwise known as stock. In the most organization, the inventory or stock figures is the largest simple item in the current assets group.
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 …
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TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
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 "The Need for Efficient Inventory Management in a Manufacturing Company" 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
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- 2.2 Conceptual Review
- 2.3 Theoretical Framework
- ⋮
- 2.4 Empirical Studies
- 2.5 Research Gaps
- 2.6 Summary of Literature Review
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 "The Need for Efficient Inventory Management in a Manufacturing Company" 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.
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