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Stock Control As A Management Tools For Efficient And Effective Stores Operation
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1.2 STATEMENT OF THE PROBLEM
The need for a stock
control in the contribution of an effective and efficient store
operation can not be swept under the carpet. As mentioned earliest,
stock comprises of raw materials components, sub-assemblies, consumable
stores, general stores, maintenance materials and spares, work- in-
progress and finished salable products, all those items are covered and
managed effectively through the use of stock control as a tool. This
therefore, raises very important problems that this work is intended to
peer into. The problems include identifying the essential issues
involved in stock control, how stock control can be made to work out in
an organization ,what the monetary contribution of stock control really
is, how to avoid an absolute redundant and surplus stock even stock out
and then how it can be use as a tool in attaining the organizational
objectives.
These issues and many more other issues are what I
intended to find solution to during the course at this study. These
might be categorized thus;
MAINTENANCE PROBLEMS; what are the things
needed to make stock control won-out. What and which type of stock
control technique is best suited for a particular industry.
INHERENT
PROBLEMS; how can absolute redundant and surplus stock be avoided, if
they can be dealt with other problems that might arises from excessive
stock includes;
[1] Absorption of capital which would have been utilized in other ventures.
[2] Taking up the whole space in the warehouse or store
[3] Determination of obsolescence
[4] Interruption in production and sales.
1.3 OBJECTIVE OF THE STUDY
This research project seeks to achieve the following objectives.
[A] To find out whether stock control can control to business survival.
[B] To find out or study the modalities adopted by organizations in achieving it organizational objectives.
[C] To find out the adverse effect of non-application of stock control techniques in an organization.
[D]
To find out the solution as to what to do if the organization is not
able to apply stock control method for effective and efficient store
operation.
[E] To find out the information and advantages of stock control in the attainment of organizational objectives.
[F] To determine the various ways by which stock control can be carried out in the attainment of organization objectives.
[G]
To find out the various ways, methods and system by which stock control
can be used as a tool for effective and efficient store operation.
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