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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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1.8 DEFINITION OF TERMS
This section aims at defining same registers that the researcher has used in the course of writing this project that may not be easily understood by persons who are not in this field.
• ECONOMIC ORDER QUANTITY: The economic order quantity refers to the level of stock that will result in the total of ordering and carrying cost.
• ECONOMIC: This is a system of production and distribution of need in order to satisfy the material needs of people in the environment.
• LOAD-TIME: This is the time between orders placed and when they are eventually received.
• MANAGEMENT: Management is the process undertaken by one or more individuals to coordinate the activities of people working together in a group in order to achieve organizational goals, aims and objectives.
• RAW MATERIALS: There are substances in their natural state, partly manufactured by already manufactured products from which other goods can be gotten for either domestics or industrial consumption.
• SCRAP: This term applies to material or equipment which is no longer serviceable or which is discarded another form of scrap refers to by product such as fly from cotton s pinning wrap ends from wearing and meter scrap from boring plaiting machine .
• RE-ORDER LEVEL: This is the of materials at which the firm place order for more material to prevent stock out.
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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---
