inventory management on productivity in an organization
COMPLETE PROJECT MATERIAL COST 5000 NAIRA OR $10 ,
. A FRESH TOPIC NOT LISTED ON OUR WEBSITE COST 50,000 NAIRA ( UNDERGRADUATE) OR 100,000 FOR SECOND DEGREE STUDENTS. $500. PLUS FREE SUPPORT UNTIL YOU FINISH YOUR PROJECT WORK. CONTACT US TODAY, WE MAKE A DIFFERENT. DESIGN AND WRITING IS OUR SKILLED. DESIGN AND WRITING IS OUR SKILLED.
Note: our case study can be change to suit your desire location . we are here for your success.
Account Name : Chi E-Concept Int’l
ACCOUNT NUMBER: 0115939447
Account Name: Chi E-Concept Int’l
Account Name: 3059320631
Foreign Transaction For Dollars Payment :
Bank Name: GTBank
Branch Location: Enugu State,Nigeria.
Account Name: Chi E-Concept Int’l
Account Number: 0117780667.
Swift Code: GTBINGLA
Dollar conversion rate for Naira is 175 per dollar.
ATM CARD: YOU CAN ALSO MAKE PAYMENT USING YOUR ATM CARD OR ONLINE TRANSFER. PLEASE CONTACT YOUR BANKER SECURITY GUIDE ON HOW TO TRANSFER MONEY TO OTHER BANKS USING YOUR ATM CARD. ATM CARD OR ONLINE BANK TRANSFER IS FASTER FOR QUICK DELIVERY TO YOUR EMAIL . OUR MARKETER WILL RESPOND TO YOU ANY TIME OF THE DAY. WE SUPPORT CBN CASHLESS SOCIETY.
PAY ONLINE USING YOUR ATM CARD. IT IS SECURED AND RELIABLE.
form>DELIVERY PERIOD FOR BANK PAYMENT IS LESS THAN 2 HOURS
How to transfer from your bank account to All Nigeriabanks
1. Access Bank:
3. Fidelity Bank:
5. First Bank
7. Heritage Bank:
8. Keystone Bank:
9. Sky Bank:
10. Stanbic IBTC:
11. Sterling Bank:
13. Unity Bank:
14. Zenith Bank:
15. Diamond Bank
To know your BVN, dial
E.g for First bank… *894 *Amount *Acct. No. #
Please dail d code from d number u used to register d account from the bank
CALL OKEKE CHIDI C ON : 08074466939,08063386834.
AFTER PAYMENT SEND YOUR PAYMENT DETAILS TO
08074466939 or 08063386834, YOUR PROJECT TITLE YOU WANT US TO SEND TO YOU, AMOUNT PAID, DEPOSITOR NAME, UR EMAIL ADDRESS,PAYMENT DATE. YOU WILL RECEIVE YOUR MATERIAL IN LESS THAN 2 HOURS ONCE WILL CONFIRM YOUR PAYMENT.
WE HAVE SECURITY IN OUR BUSINESS.
MONEY BACK GUARANTEE
This research is on impact of inventory management on productivity in an organization with zarewa aluminum and plastic limited as a case study. Its primary aims is to determine the level of inventory of goods and documented with the organization. It also the aim of the research is to find out the methods of control of goods with a view to eliminate the element of waste and thereby minimize the amount of material purchased from tying down capital stock out. The researcher divided the protect into five chapters. Chapter one forms the general introduction, brief history of zarewa aluminum and plastic limited, statement of general problems, hypothesis, limitations and significance of the study. Chapter two deals with review of related literature. While chapter three deals with the research methodology. Chapter four was used to analyzed and present the data collected in a tabular form. While chapter five deals with the summary, conclusion and recommendations.
TABLE OF CONTENTS
Title page i
Approval page ii
Table of contents vii
CHAPTER ONE: INTRODUCTION
- Background for the study 1
- Statement of general problem 5
- Aims and objectives 6
- Statement of hypothesis 7
- Rationale of the study 7
- Scope and limitation of the study 8
- Historical background of zarewa aluminum
and plastic limited 9
- Definition of terms 13
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction 16
2.2 Receipt of goods 22
2.3 Stock or (Stores) issues 24
2.4 Authorization of issue 28
2.5 Stock records 29
2.6 Store-house locations system 32
2.7 Inspection of incoming goods 35
2.8 Stock-taking 36
2.9 Perpetual inventory 39
2.10 Stock valuation 41
3.1 Research methodology 46
3.2 Research methods or approaches used 46
3.3 Justification for approaches used 47
3.4 Instruments or tool used 48
3.5 Research population and sample size 49
3.6 Sampling procedures 50
3.7 Justification for sampling procedures used
and sample size 50
3.8 Statistical techniques used in
analyzing the data 50
4.1 Data presentation and analysis 52
4.2 Testing of hypothesis 67
4.3 Testing of hypothesis using chi-square 68
5.1 Summary, Conclusion and Recommendation 72
5.2 Summary of findings 72
5.3 Conclusions 74
5.4 Recommendations 75
- BACKGROUND OF THE STUDY
Inventory in the form of raw materials, work in progress and finished goods constitute significant proportion of assets of most organization. But why is it pertinent to keep any eye on these items in other words, why do we engage in inventory management?
Inventory items cost money to acquire, they cost money to store and to look after, which means storage facilities has to be provided so as to make sure that these materials or items do not get spoilt until they are turned into sellable goods, they do not produce money. When stock are held, it means tying down capital that would have been used in other areas, so it all represent cost and should be managed properly to acquire efficiency.
We must however, hold stock to meet production needs and sales needs. This is because if we do not hold stocks in sufficient quantities, we stand the risk of running out of stock.
Similarly, if we are short of finished goods, we may disappoint our customers. Inventory shortages in both of these forms will likely lead to loss of customers and money. For the organization not have the above problems, they should strike a balance between carrying too much stock (over stocking) and carrying too little stock (under stocking).
This is essentially the importance of inventory management. Managing assets of all kinds is basically an inventory problem, the same methods of analysis applies to cash and fixed assets as to inventory themselves.
First of all, a basic stock must be on hand to balance in flows and outflows of items. The size of the stocks depends on the pattern of flows whether fast moving or regular items, slow moving or irregular items.
Secondly, because the unexpected may occur, it is necessary to have safety stock on hand representing, extra stock to avoid the cost of not having enough to meet current needs.
Thirdly, additional amount may be required to meet future growth needs these are called anticipation stocks, related to anticipation stocks, is the recognition that, these are optimum purchases sizes defined as economic order quantity (EOQ).
In borrowing money, for buying raw material for production or purchasing plants and equipment, it is cheaper or more economical to buy more than just enough to meet immediate needs.
Manufacturing firms generally have three kinds of inventories:
- Raw material
- Work in-progress
- Finished goods
- The level of raw materials; inventory is influenced by anticipated production, seasonality of production, reliability of sources of supply and efficiency of scheduling purchases as well as production operations.
- Work in-progress inventory is greatly influenced by the length of the production period, which is the time between planning raw material in production and completing the finished products. Inventory turn over can be increased by increasing the production. One means of accomplishing this is to perfect engineering techniques there by spreading up to manufacturing process. Another means is to buy rather than make them. The level of finished goods inventory is a matter of coordinating production and sales.
Holding stock in whatever form cost money. The capital tied down by the stock itself has to be serviced by the payment of interest and the land or warehouse needed for the stock has to be bought or rented. The handling of the securing of the stock and any quality deterioration that occurs also cost money. The sample type of stock control system used in most organizations is two, the bin system of stock control and is of two quantities.
The first quantity is the stock level below which is new order is to be placed. Under this system, the units of stock are held in two: one and two stock is taken from bin as required until this bin is empty.
More are then order by the quality being determined by the rate of usage or consumption rate; comprehensive inventory, planning and control system have been successfully installed or established in many organizations. The major objectives of inventory management is to discover and to optimum level of investment in the inventory. Inventories may be too high or too low, if too high there are unnecessary carrying cost and risk of obsolescence. If too low, production may be disrupted or sales permanently lost and loss of good will, reputation, and customers to other firms in the same industry.
The optimum inventory level is that which minimize the total cost associated with inventory.
- STATEMENT OF GENERAL PROBLEM
The life blood of any organization both private and public sector is material and this has been neglected long ago by various business concerned. The survival of any business set up depends upon sufficient application of material functions, policies involved and recognition according to the function.
Up till now inventory management has not been able to occupy it rightful position due to one reason or the other. There has been infringement on the right of inventory management personnel. They are often restricted to mere clerical work in many organizations.
The lack of recognition for inventory management function in many organizations has caused so many havoc.
For instance where the function is forced to be recognized and established because of the demand to manage the affairs of various