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The Impact Of Effective Materials Management In A Manufacturing Company
[A CASE STUDY OF OKIN BISCUIT COMPANIES OF NIGERIA P.L.C]
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1.3 SIGNIFICANCE OF THE STUDY
All participants of the manufacturing sector are being badly affected by the batter nature of our economy even the consumers are not spared, the significance of this study lies in the fact that it will attempts to provide solutions to same of these, this will reveal alternative mean of sourcing for raw material thereby solving the problems of complete dependence on foreign sources.
Economically, producers can plan adequately to guide against higher than maximum stock level as well as to lower than minimum stock level.
These two situations have some negative implication on the business working capital and corporate image respectively
This study will bring to light the place of material management as an indispensable function; this will help to eliminate shortage of materials which cause poor market Performance in case where the organization cannot meet market
This will enable production specialist to become more conscious about the economic order quantity (EOQ) i.e. the quantity at which cost can be produced in the barest minimum ,this will encourage organization to handle stock control with great caution
1.4 STATEMENT OF HYPOTHESIS
The following postulation will be made in the course of this study ,these assumptions are validated with data gather from field work and will be analyzed in chapter four therefore the working hypothesis employed in the course of this study are
1 Null Hypothesis (Ho)
2 Alternative Hypothesis (Hi)
Null Hypothesis (Ho)
1. For organization to ensure availability of needed raw material ,they need to combine local and oversea resources
2. Even though orders arrive early ,there will be no need to keep safely stock or make provision for short falls in inventory
ALTERNATIVE HYPOTHESIS (Hi)
1 For organizations to ensure the availability of the needed raw material, they needed to combine local and oversea resources.
2 Even though orders arrive early, there will be no need to keep safely stock or make provision for short falls in inventory
1.5 SCOPE AND LIMITATION OF THE STUDY
This project covers relevant elements and aspects of materials management to production and is its relationship with the current situation of our economy .it covers areas like sources, availability and utilization of materials.
The case study is limited to Okin Biscuit Nigeria limited for the collection of data, only the staff from departments related to the topic will be included such as the production, the store, purchasing, quantity control and accounts departments.
In the course of the study, the following constraints were encountered such as getting information from primary and secondary sources as well as in document item, finance that is needed to carry out a research of this type such that as a student may not be able to get all materials needed as cost of transportation, typing and photocopying of relevant materials is high.
Also, all information needed may not be gotten as same members of staff may be reluctant to give out information, thus this will limit the research from handling the topic in a satisfactory manner.
Lastly, since most of the staff to be contacted are senior worker, it will be difficult to get them on seat and even when they are on seat, they may be too busy to give one the needed attention.
1.6 HISTORICAL BACKGROUND OF OKIN BISCUIT OFFA NIGERIA LTD
Okin Biscuit limited was incorporated in 1978 by the patriotic business and indigene of Offa, Chief E.A Adesoye, who did so in responses to the call of the state governor to establish industries in kwara state.
The company though incorporated in 1978, did not star it production activities until December 1979 after the land clearing construction and installation of plants and machinery was put in place.
The company started its production with three varieties namely, cabin germ and costal biscuit and has added other varieties such as short cakes and olomokulubu.
The raw material uses in the production of biscuit include wheat, flour, sugar, margarine, and salt, baking chemical, flavour and water.
Since major portion of the raw material and packaging were from abroad ,import license effected the production target since 1982 continued from ,any years .this adverse foreign exchange during the following years forced some factorizes to close down but okin biscult serviced, although the capacity utilization reduced to 25% In 1987, when the federal government banned the importation of wheat flour, okin biscuit which operated in line with government rules and regulation prompted to source its raw material locally and this was partially successful.
In view of this development, okin biscuit decided to experiment wheat farming kwara state. This was done in oyun, ifelodun and Babanla local government areas and this has gone a long way in solving the problem of what flour. However, the ban and importation of water flour was lifted in December 1992.
The staff strength of Okin Biscuit is within the average of 500-550 employees employed directly and trained internally by the industrial training fund (ITF) to develop their skills and talent.
In 1989 ,okin biscuit limited acquired the major share of 70% in kwarastate breweries with a view to revitalize the company which was then poor condition the company is still looking forward to a rosy future of survival in spite of the battered economy condition .
CHAPTER ONE -- [Total Page(s) 3]
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ABSRACT - [ Total Page(s): 1 ]ABSTRACT For better linkage and proper understanding of this research work, it is divided into five chapters.Chapter one comprise of the introduction of project topic, introduction of the study, importance of the, definition of key terms and concept plans of the study.Chapter two take a look at the literature review with emphasis on the concept of leadership, the meaning of organization, the relationship between leadership style and their applicability.Chapter three comprises of the research met ... Continue reading---
