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Stock Control As A Management Tools For Efficient And Effective Stores Operation
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CHAPTER ONE
1.0 GENERAL OVERVIEW OF THE STUDY
Effective and
efficient store operation is very closely linked with production and
distribution and is a much neglected area of business study. Yet the
store function is a vital part of all industrial organization public and
private utility organization Federal, state and local Government
organization, Armed services, and it must be designed to suit the
particular needs of the organization it service.
1.1 INTRODUCTION
Having
defined a store as any space reserved and equipped for holding
materials which are awaiting dispatch to customers for further
processing of final consumption in most organization, stores is a place
where all types of equipment materials components and supplies needed
for production,distribution,maintenance, packaging etc are received.
Stored and issued to users. A stock control system needs to be adopted
in order to ensure effective and efficient store operation.
In
today’s business with competitive market, unstable economic condition,
controlling of cost means the difference between profit and loss. The
overall business objectives is to maximize profit margin and minimize
cost of production, has led many executive to taking steps in all aspect
of their business to reduce cost of materials or stocks from a major
part of the total investments of an organization. This is mainly due to
the fact that no matter the type of business an organization engages in,
whether merchandizing or manufacturing, there must be clearly stock of
materials to keep the enterprise going. A manufacturing business for
instance, cannot exist without raw materials, purchased parts,
intermediate parts, sub-assemblies and finished goods ready for shipment
and sale.
Stock control concerns not only the individual business
but effect the economy of the nation holding stock waiting for a time
when they would be used in production. A said earlier it does not
immobilize the capital resources, but could generate inventory.
Inventory arising from reduction in stock due to a reduction in sale
could stir-up a long chain of reaction affecting the whole system.
Effective stock control therefore does not only help the enterprise per
say, but even influence the whole profitability of the nations economic
development.
I have made some attempt in delivery into books and
research work done by others to get information on areas the stock
controller or manager as the case may be, should be vigilant for him to
effectively use stock control as a management tool for effective and
efficient store operation.
The first chapter starts with the
introduction after which a brief statement of problem, objective of the
study, the scope of the study, it significance and also the limitation
encountered by the research will be given. Chapter two delivers into the
work of other researchers in the same issue known as literature review.
chapter three discussed the research methodology, presentation and
discussion of findings chapter four gives a data presentation and
analysis of data. chapter five gives a summary of the work and
conclusions. Then finally the recommendation and appendix, bioliogy and
questionnaires. All these are intended to be carryout by the researcher
in this work.
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