-
Store Coding And Material Identification And Effect On Store Efficiency
[A CASE STUDY OF NIGERIA BOTTLING COMPANY (NBC)]
CHAPTER ONE -- [Total Page(s) 3]
Page 3 of 3
-
-
-
1.6 Scope of the Study
The
broad nature of purchasing and supply chain management with all its
related terminologies and concepts, including stock verification, stock
taking, stock checking, material identification and code require proper
definition of research scope in order to understand the nature of the
research and its findings. The research project is particularly focused
on store code and material identification which constitute the cardinal
aspect of stock control and administration of modern organization. The
study is thus intended to scrutinize the nature and modus operandi of
Nigeria Bottling Company Plc in store department of the company.
1.7 Definition of Terms
Ø Store – a place where items are kept and protected against unauthorized removal.
Ø Stocks – this is a term used to describe goods held in storehouse or store yard.
Ø Storage – keeping and protecting an item against unauthorized removal
Ø Scrap – waste produced as a by product component or wok in progress, which do not meet the required quality.
Ø Obsolescence – is a process by which an item is going out of use in an organization.
Ø Obsolete – this is when an item is no longer usable by the organization concern.
Ø
Inspection – is a physical examination and counting of incoming and
out-going goods to ascertain quality and quantity of material.
Ø Bia card – these are record cards attached to each item of the store
Ø Standardization –this means reducing the numbers of similar items held in stock to a desirable quantity.
Ø Stock yard - is an open storage areas used for the storing of various goods/items
Ø Stock record – is the document which gives details of receipts issued and balances of the entire range of items held.
Ø Stock control – is an operation of continuously arranging receipts and issues.
Ø Stock taking – this is the counting of stock generally done at regular period and traditionally once in a year.
Ø Stock checking – is a physical check of quantity to ascertain the conditions of items kept either regularly or at interval.
Ø Maximum stock – a stock level selected ad the maximum desirable.
Ø Minimum stock – a stock level as the minimum desirable
Ø Overstocking – keeping stock above its maximum or normal requirement.
Ø Under stocking – keeping of stock below the minimum level.
CHAPTER ONE -- [Total Page(s) 3]
Page 3 of 3
-
