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Inventory Planning And Control On Products Availability
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1.5 Scope of the Study
The work will be limited to inventory
planning and it effect on products availability, the researcher did not
intend to go beyond the department under study, the research will be
conducted at KRPC within the following departments, Material Management
Department (MMD) operation departments and maintenance department. These
are traditional department that usually in needs of material at KRPC
located at Kachia Road, Kaduna. The researcher will use 10% of 200
populations across three department to justify her work.
1.6 Research Questions
i) What are the importance of inventory planning and control?
ii) What are the techniques use in inventory planning?
iii) What procedures are followed to ensure constant flow of inventory?
iv) Who is responsible for inventory planning?
vi) What are the significances of material handling in inventory planning?
1.7 Limitation of the Study
The
research is likely to be limited by a number of factors which may
combine to negatively affect the outcome. These limitations may be due
to weakness of the instruments use for data collection, here the
respondents are limited by the structure questionnaires.
Again the
attitude of the respondents may constitute a limitation as they may feel
reluctant to give information they consider sensitive.
The research design as well as the statistical tools used also have limitation that may affect the outcome of the study.
1.8 Definition of Terms
This aspect were design to explain all the languages and terminology that were use during the exercise.
Inventory – is defined as a list of all physical materials, stock items and equipment that kept in the store.
Planning:
It can be explain as a futurist activity that bridges that gap between
initiating of an idea and the occurrence of the even itself. It means
deciding in advance what to do when, how and by whom, it is therefore
form relation of future course of action.
Control: In its simplest form, control is about making sure the objectives of the firm are achieved.
Management: It is the judicious use of personal or organizational resources of the achievement of predetermined goals.
Product: Bundle of an items that provide satisfaction manufacturing output or performed services.
Economic Order Quantity (EOQ): This is a calculated ordering quantity than organization should order at any point in time.
Buffer Stock: Is a situation where stock (safety) is held to meet unexpected demand.
Store:
It can be defined as an isolated place where all kind of working and
non working types of material such as equipment, spare parts are
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