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The Significance Of Stores Management In A Manufacturing Organisation
[A CASE STUDY OF DOYIN INVESTMENT PLC, ILORIN]
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1.4 STATEMENT OF THE PROBLEMS
Manufacturing companies in Nigeria encounter numerous problems relating to stores activities as explained below and the company under study is no exception.
The following are some of the problem:
a) The problem of over stocking:- This is a situation where there
are more stock of an item in the store beyond what is normally
required to provided satisfactory services.
b) Under Stocking:- Is also another problem being faced by most manufacturing companies in Nigerian in this, organization carries ten quantity. Of an item required by the users (users department in an organization).
c) Problem of obsolescence:- Obsolete inadequate storage space and facilities are also common.
d) In efficient method of controlling stock is another problem normally encountered by the manufacturing companies.
1.5 OBJECTIVE OF THE STUDY
One of the motives behind this project is in partial fulfilment for the award of National Diploma in Business Studies awarded by the Institute of Finance and management Studies.
Secondly, the research work is to expose the researchers and broaden their knowledge about the subject matter i.e the significance
of store management in a manufacturing industryâ€with peculiar
reference to Doyin Investment Plc, Ilorin.
The research study is also aimed at making all profit oriented organization to realize how much is being lost daily as result of ineffective management of stores.
1.6 SIGNIFICANCE OF THE STUDY
The researcher carried out this exercise in order to portray the significance of stores management in a manufacturing organization with particular reference to Doyin Investment Plc, Ilorin.
The researchers through the research have acquired useful experience of whatis happening in the industrial store of the Nigerian economy. The significance of this study is to enable the industrial sector to appreciate the role of stress in the attainment of organizational objectives with model such as minimum, maximum and re-order level techniques I the store management.
The manufacturing companies are not likely to be convinced
that stores management is not only concerned with stock holding facilities alone. This research work is very important.
Because it will point out some areas where the majority of Nigerian manufacturing organization are making a great mistake by allowing their store operations or functions be handled by unqualified store personnel’s.
It is also believed that the society at large would find the research very useful. People such as professionals, stores personnel, material management student as well as other members of public having interest in stores management can refer to this research as an aids.
1.7 SCOPE OF THE STUDY
The study intends to look into significance of store management
in a manufacturing industry with a particular interest in Doyin Investment Plc, Ilorin.
The study will be more concerned with the activities of the store
in the organization. The research will thoroughly show the purpose
responsibilities and the relationship of store to other department.
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