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The Impact Of Inventory Control In Business Organization
[A Case Study of Nigerite Nigeria Limited]
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OBJECTIVE OF THE STUDY
The major objective of the study include the followings.
1) To examine the extent at which nigerite limited has adopted the use of proper Inventory control in their polly formulation.
2) To identify the organization Inventory items and their associated cost.
3) To find out the total number of product each machine the organization has can produce either in batches units with associated dry taken hair for completion of the jogs.
4) To Inventory how the organization places order or their raw materials with associated cost.
5) To find out recording quantity of each of raw materials uses and average number of days each of the producer takes before being and the carrying cost.
6) lastly and most importantly to make useful recommendation to Nigerite limited and other similar organization based on the finding of the study.
SIGNIFICANCE OF THE STUDY
Inventory control as already indicated in the background of the study is very importance to businessmen due to it’s numerous applications or properly applied such as the avoidance of the organization faced with the problems of running but of stocks.profit maximization especially when they are anticipated price increase minimization of nordering cost reduction of production cost,shelve display a commodities uncomplying of successive operation in the process of making it possible to process a product at a distance from customer or from raw material supplies or two do two operation at a distance from each other e.t.c.
With the benefit derivable from proper application of inventory models as well as various problems still confronting most manufacturing, retailing or wholesaling firms in Nigeria, which are mostly wrongly attributed to economic depression, whenever they fail to meet customers orders there by costing such customers to their competitors apart from the money they our to have realized obviously called for this kind of study.
SCOPE OF THE STUDY
The attention of this project is focused essentially on inventory control to Nigerite limited lagos being the head office where all relevant information needed about others operating plant with in the country easily and ready available and accessible.
Since the write up will not extend beyond how inventory control is beings used in the chosen organization various concept of inventory control and how they are applied to the company under study. Nigerite limited lagos, could be attempted. This will enable us see the relationship between inventory conrol and operating result of the company.
LIMITATION AND CONSTRAINTS OF THE STUDY
Research study in nigerite is best with a problems which mass prejudice against the researcher themselves under secrecy as well as were time and financial constraints may of this limitation were experienced the course of out study.
However, provement among these limitation were experienced the course limitation were time and financial constantrants. As final year student we had short time at my disposal for the study. As has to combine it with other academic work some problems were therefore encounterd in the conduct of the field work it was not quite easy to arrange or personnel intervention with the general manager, propriet or the product manager of the aquan rapha investment company. The national directorate of employment as well the Nigeria banks of commerce and industry limited <NBCL>
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTInventory control in an organization is a system or process of ascertaining of a point in the time the list of goods business time or period. How ever the process is a tools for rapid growth excellence service delivery and as well sustainable or continuous existence of an organization if effectively and efficiently carried out. Thus, the research hereby intends to vividly discuss on the impact of inventory control in business organization chosen Nigeria limited Ikeja as a case stud ... Continue reading---
