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Impact Of Effective Stock Keeping And Control In An Organization
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CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF STUDY
For an
organization to be successful, it depends on the efficient control of
stock in that organization. Therefore, for the study of purchasing and
supply to be successful or complete, there must be efficient control of
stock. Store management is very closely liked with product and
distribution and is much neglected area of business study. Yet stock
control is a vital part of all industrial organization and it must be
design to suit the particular needs of the organization. Stock control
is set up in any organization to assist in the production of goods and
services and no substantial size can be efficiently manage with out it.
The basic aim of every manager is to reduce the time and labour involved
in each operation to the absolute minimum consistent with maintaining
the required quality. (Bin, 1952).
According to (Bim, 1952) stock
control represents the clerical control of materials into and out of the
stores, and all the level of stocks in the stores with due regard to
the economy in storage as well as ordering cost, purchase price to
agreed, and the level of organization working capital. The stock control
process focuses attention on factors related to time utility location,
quality and quality of materials used by the operations of the
organization.
1.1 BACKGROUND OF THE STUDY
ROKANA INDUSTRY OWERRI
Rokana
Industry Owerri was established in the year 1998 by the former
Manufacturing Association of Nigeria (MAN) President Engr Charles Ugwuh.
The company is into manufacturing and production of goods and services.
Its corporate headquarter is situated as t Victoria Island Land with
manufacturing situated at different parts of the country which includes
Owerri, Port Harcourt, Onitsha and recently Enugu. They produce good
quality beverages and confectionaries for daily consumption. They
produce quality post-boards companies adverts post boards, posters etc.
Also they are into plastic/polymer production. The number of Rokana
Products sent to the market, in no doubt has made tremendous impact on
the reduction of the micro economic variables problems in this country
through generating to our economy, creation of job opportunities etc.
Efficient stock keeping has significantly improved profitability and
productivity of Rokana Industry.
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ABSRACT - [ Total Page(s): 1 ]The effect of stock control in an organization is so vital in both large and small firm whether in the public or private sector. Serious operational and financial breakdowns can result if a good stock control system is not operated by the stores. Every stock control system must be designed to meet the particular needs of the organization. Stock control is set up in any organization to assists in the production of goods and service and no substantial size can be efficiently manage without it. The ... Continue reading---
