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INVENTORY MANAGEMENT AND CONTROL IN A MANUFACTURING ORGANIZATION
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- Contributor: mr-chris
- engagements: 83
- Case No: 168302ip
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ABSRACT - [ Total Page(s): 1 ]An efficient and effective inventory control and management in any organization is very vital in the survival of such organization. Inventory is defined as “An idle resource of any kinds that possesses economic values, and is classified in many ways thus: production inventories like raw materials, parts and components which enter the firm’s product in the production process. MRO inventories that is maintenance, repair and operating supplies which are consumed in the production process but which do not become part of the product, in process inventories, that is semi-finished produc
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CHAPTER ONE - [ Total Page(s): 4 ]CHAPTER ONE1.0 INTRODUCTION1.1 BACKGROUND OF THE STUDYAdvancement in all business activities has brought about the need for efficient inventory management and control. For the past decade inventories were handled by a clerk in a routine manner. But in recent times proper attention has been given to it. As a matter of fact, a well planned and effectively controlled inventory can contribute substantially to the organization’s growth and efficiency. Inventory control is a vital element in the management of materials.However, before delving into this plight, it is appropriate ... Continue Reading
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ABSRACT - [ Total Page(s): 1 ]An efficient and effective inventory control and management in any organization is very vital in the survival of such organization. Inventory is defined as “An idle resource of any kinds that possesses economic values, and is classified in many ways thus: production inventories like raw materials, parts and components which enter the firm’s product in the production process. MRO inventories that is maintenance, repair and operating supplies which are consumed in the production process but which do not become part of the product, in process inventories, that is semi-finished produc
... Continue Reading
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