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The Impact Of Inventory Control And Planning In Stores Administration
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1.2 STATEMENT OF PROBLEM
The
impact of inventory control and planning in fan milk ice cream Owerri,
the firm is battling with a lot of problems varying from building up
stock of materials which first of all has to be purchased from suppliers
and remembers in many cases the goods will have to be paid for the
organization working capital. Therefore, the impact of inventory control
becomes of problem.
1. The firm is battling with unavailability of
materials in stock in the sense that most at times, they operate on hand
to mouth level and that makes the impact of inventory to be difficult.
2.
Because stock are sometimes allowed out of the store without proper
requesting, it cause difficulty in the impact of inventory.
3. Due to
deterioration and pilferage caused by overstocking it makes it
difficult to impact inventory control and planning in the firm.
4.
Because the optimal levels of stock is not easily determined it makes it
difficult to impact inventory control and planning in the firm .
5.
The use of non qualified stores administrator resulting to lack of
proper inventory control and planning (Oso, & Onen, 2015).
1.3 OBJECTIVES OF STUDY
The
primary objectives of this research work is to assess the impact of
inventory control and planning in stores administration. Specifically,
other objectives are:
1. To highlight the immense/importance of efficient stock planning and control in stores administration.
2. Finding solutions to the problems of managing and controlling stocks in the stores administration.
3.
Finding the likely consequences of overstocking and under stocking
planning and control in stores administration and the benefits
attributable to having stock at it optimal level.
4. Whether there is divergence between policy and practice in the stock management of fan milk industry in Owerri.
5.
To ensure that the services of a qualified stores administrator is
employed in the store of the organization to enhance inventory control
and planning.
1.4 RESEARCH QUESTIONS
The following are the research questions
1. Does store administration appreciate the importance of efficient, the impact of inventory control and planning?
2. Does overstock introduce unnecessary carrying cost and tying up of capital?
3. Is the impact of inventory control and planning of any importance to stores administration?
4. Does under stocking result to stock out in store administration?
5. What impact does stock/inventory have in the profitability of the organization.
1.5 SIGNIFICANCE OF THE STUDY
The
success of largely project and programmes envisage for sustained
inventory control and planning in stores administration although it
depends on the useful guide for a research work because inventory forms
the life blood of any organization set –up.
The research work will be
a reference material for researchers on how to manage and control
inventory in an industry for rapid growth. However the researcher
believes that the information gathered from this research will help the
employees of concerned companied in Nigeria to know whether their method
of inventory control and planning is really having an impact in their
company.
Also to the users, it will review to them whether the
inventory control and planning procedures guarantees the success for
inventory control and planning system in their company. It will
highlight the pubic on the procedure of inventory control and planning
in the establishment. It will also highlight the work points of the
procedure in use. The reader might benefit from considering inventory
control and planning as he/she perceive it in his/her own environment.
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ABSRACT - [ Total Page(s): 1 ]The research work will look into the impact of inventory control and planning in stores administration in fan milk industry owerri. This work is divided into five chapters, the first chapter will look into the introduction, background of the study, research questions, limitation of the study, and definition of terms. Chapter two will look into the literature review that is introducing many authors and their books, journals etc bring out their view on the topic while chapter three will look into ... Continue reading---
