ASSESSING THE IMPACT OF INFORMATION TECHNOLOGY ON INVENTORY CONTROL IN OIL AND GAS SECTORS

ASSESSING THE IMPACT OF INFORMATION TECHNOLOGY ON INVENTORY CONTROL IN OIL AND GAS SECTORS

(A Case Study Of Kaduna Refining And Petrochemical Company)

 

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ABSTRACT

This research work, assessing the impact of information technology an inventory control in oil and gas sector. This study is focused on Kaduna refinery and petrochemical company. The study covers five chapters, chapter one introduces the subject matters and spells out the objectives to be achieves and as well as the significant of the study. Chapter makes criteria review of the current literature on the subject matter. The third chapter presents the methods of data collections, chapter four shows the presentations and the analysis of data collected from the respondents. The fifth chapter shows the summary, recommendation and conclusion. The population for this study covers four hundred and fifty staffs of refinery the researcher randomly selects forty five staffs randomly as her sample size. The hypothesis formulated for this study includes, Ho: the use of information technology has no positive impact on inventory control in the oil and gas sector. Hi: The use of information technology has a positive impact on inventory control in the oil and gas sector. Data collected were presented and analyzed in a tabular form using percentage. It was further tested with use of chi-square and hypothesis was confirmed.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TABLE OF CONTENTS

CHAPTER ONE

1.0   Introduction     –      –      –      –      –      —     –      1

1.1   Background of the study  –      –      –      –      –      1

1.2   Statement of the General Problem   –      –      –      3

1.3   Objective of the study     –      –      –      –      –      5

1.4   Statement of the Hypothesis – –      –      –      –      5

1.5   Significance of the study  –      –      –      –      –      5

1.6   Scope of the study   –      –      –      –      –      –      6

1.7   Limitation of the study     –      –      –      –      –      6

1.8   Historical background of the case study   –      –      8

1.9   Definition of terms   –      –      –      –      –      –      10

1.10 Organizational structure  –      –      –      –      –      12

CHAPTER TWO

2.0   Introduction    –      –      –      –      –      –      –      13

2.1   method of inventory control    –      –      –      –      14

2.2   The importance of inventory management      –      18

2.3   Process of information technology   –      –      –      23

2.4   Application of information technology

in oil and gas sector –      –      –      –      –      –      25

2.5   The effect of information technology

on inventory control-       –      –      –      –      –      27

 

CHAPTER THREE:

3.0   Research Methodology     –      –      –      –      –      33

3.1   Research design      –      –      –      –      –      –      33

3.2   Research population –      –      –      –      –      –      33

3.3   Sample size and sampling technique       –      –      34

3.4   Method of gathering data –      –      –      –      –      35

3.5   Justification of method used    –      –      –      –      36

3.6   Method of data analysis   –      –      –      –      –      37

3.7   Justification of investment used       –      –      —     38

 

CHAPTER FOUR:   

4.0   Data Presentation    –      –      –      –      –      –      39

4.1   Data analysis   –      –      –      –      –      –      –      39

4.3   Test of hypothesis    –      –      –      –      –      –      52

CHAPTER FIVE : Summary of Findings, Conclusion Recommendation

5.1   Summary of finding –      –      –      –      –      –      55

5.2   Conclusion       –      –      –      –      –      –      –      57

5.3   Recommendation     –      –      –      –      –      –      57

References-     –      –      –      –      –      –      –      –      60

Appendices              –      –      –      –      –      –      –      62

 

 

 


CHAPTER ONE

  • INTRODUCTION

1.1   BACKGROUND OF STUDY

The American institutes of accountants defines the term inventory as “the aggregate of these items of tangibles properties which are held on sales in the ordinary course of business, are in process of production for such sale or one to be currently consumed in the production of goods or services to be available for sale”. Advanced accounts.

 

Inventories are the significant portion of most forms of assets which accordingly requires substantial investment in order to keep these inventories from becoming unnecessarily large, inventories must be managed efficiently. In efficient procedures regarding inventory and some   items of stocks, other overstock, necessitate excessive investment. Inefficiencies ultimately will have an adverse effect upon profits, thus the effect of   inventory control in flexibility and level of investment required in categories represent two sides of the same coin. These are various principles of inventory control which will be viewed from the content of a profit oriented organization form which a base can be formed for the title of the project.

In the modern business worlds, greater importances have been put to the control of inventory. Its concern in the management of inventory control must be to provide right goods in right condition at the right time. It implies that, the control procedure should be able to;

  1. retain appropriate stock levels
  2. Ensure proper use of stock in business operation.
  • Ensure the inventory is duly accounted for.
  1. Safe guarding of stock against loss or misuse the management needs to ensure that adequate control procedures for purchasing and controlling of inventory in a way that optimum balance is obtained between efficient control and economy.

 

 

1.2 STATEMENT OF THE PROBLEM

Using information technology in inventory control is one of the most recent aspects of the modern business method. A lot of establishments engage diverse strategies to achieve accountability goal. The control problem of inventory control as it store and proper recondition of possible loss to a business through interruption of production or failure to meet other with the holding cost of stock large enough to give security against loss.

 

In examine the concept of control to know weather the present inventory

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