PREFACE
The stock management in
many business organization are often neglected and it is not realized that
materials represent an equivalent amount of cash materials pilferage
deterioration of materials and careless handling of stock loads to reduced
profit or even losses so it is essential that to obtain the maximum advantage
of cost accounting system and efficient and well equipped stocks management is
required.
Inefficient stock manage
leads to excess supply of stock which result in high storage costs excessive
capital being locked up storage of valuable space losses and absolve whole a
short supply results in reduced output and possible in danic buying.
Sales and purchase are
the basic trading activities that give rise to profit and productivity. Stock
movement is an indication of the level of business activity in a firm. This is
because stock reflects the sale and purchase activities of the firm. Therefore
stock are connected not only production but ultimately with productivity over
sixty percent of firm cost production or capital is represented by the stock
(materials) pilferage, deterioration of materials and careless hard of stock
lead to reduced profit or even losses.
TABLE
OF CONTENTS
CHAPTER ONE:
INTRODUCTION
1.1 Background
of the Study
1.2 Statement
of the Problem
1.3 Purpose/aim
of the Study
1.4 Significance
of the Study
1.5 Limitations
of the Study
1.6 Definition
of Terms.
1.7 References
CHAPTER TWO:
LITERATURE REVIEW
2.1 The
origin of the Subject Area
2.2 The
Schools of Thought Within the Subject Area.
2.3 The
School of the Thought Relevant to the Problems of Study.
2.4 Different
Method of Studying the Problems
2.5 Summary
2.6 Referenced.
CHAPTER
THREE:
CONCLUSION
3.1 Data
Presentation (highlight of the study)
3.2 Analysis
of the Data.
3.3 Recommendation
3.4 Conclusion
3.5 Reference
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
The aim of this research work is to show
how an efficient and good stock management in a manufacturing organization can
affect the levels of efficiency on productivity of the firm.
Stocks account forms a substantial part of a company’s assets. It must be
appreciated that stocks include raw materials components, partly finished good
(work in progress) and finished goods ready for sale. Too much stock will
unnecessarily tie down the resource of a company while too little stock will
result in stock outs with its attendant problem eg. unsatisfied demand and
costly arrangements to replenish stock etc. it is therefore necessary to have a
middle of a road quantity of stocks at any given time.
Stock management
function in the capacity of service and control groups within the firm. In
other words it is service oriented from managerial viewpoint, stock exist for
three reasons.
First, they provide a
service to the production operation, it is difficult for a production organization
to operate efficiently unless someone is specifically designated to organize
and control the physical slow of materials into production.
Secondly, the stock
organization acts as a custodial and controlling agency. It is
responsible for the physical welfare and control of a substantial portion of a
trans – current assets.
Thirdly, the existence
of stock permit quantity buying and its attendant cost saving in price, proper
work and handily the stock management in many business organization are often
neglected and it is not realized that materials represent and equivalent amount
of cash material most manufacturing firm on realizing the importance of stock
try to achieve effective control of stocks by guess work thereby creating half
baked stock management.
1.2 STATEMENT
OF THE PROBLEM
Sales and purchase are
the basic trading activities that give rise to profits and productivity stock
movement is an indicator of the level of business activity in a firm. This is
because stock reflects the sale and purchase activities of the firm therefore
stocks are connected not only with production but ultimately with productivity.
Over sixty percent of firms cost of production or capital is reprinted by stock
(material) material pilferage, deterioration of material and careless handling
of stocks lead to reduced profit or even losses. Inefficiency stock management
or control leads to great supply of stock which results in high storage of
valuable space, stock losses and obsolesce, while a short supply result reduced
output and possibly in panic buying or even tock outs.
In studying or
investigating these problems the following question need to be answered.
1. Does
efficient stocks management increase efficiency and productivity?
2. Does
poor staffing affect efficient stock management?
3. Does
stock – outs lead to loss of customers good will and
reduced
Profit?
4. Does
stock location and layout bring about efficient stock
Management?
5. Can
training enhance efficient stock management?
1.3 PURPOSE/
AIM OF THE STUDY
Materials are one of the firm current assets
which take about sixty percent of the firms capital yet the management of these
materials has been neglected over the years. It is the main purpose of this
study to a find out how efficient stock management could increase the
efficiency and productivity.
a)
Investigate the influence of poor staffing on efficient stocks control.
b) Determine
how inefficient stock control could lead to stock- out and how stock out could
lead to losses of customer’s goodwill and reduced profit.
c) To find
out how stock location and layouts could bring about efficient stock
management.
d) To find
out how training could enhance efficient stock management.
1.4 SIGNIFICANCE
OF THE STUDY
This research is
considered important because of the important role stock management is expected
to play in a business concern.
Business organization cannot function without good stock
management. It needs this management to management its materials
resources.
This research is primary for students preparing for career in business. It’s
used is not limited to students with career interest in the stock
keeping. It will be extremely useful to student’s career interest in
functional area of business.
It is equally for manage of stock who would wish to achieve this optimum
performance in business, the managers need to understand the general concepts
and problems in stock management.
This study will help researcher to carryout further research in this area, as
it is necessary for reading on this topic to be carried out n the Nigeria
universities.
1.5 DEFINITION
OF TERMS
Purchase Requition Note
v at is a document raised by the
replenish the stock of materials.
Purchase order
v Ones the purchase requisition comes
to the purchasing department, the buyer will contact suppliers and ensure that
the order is for materials with the correct description delivery address and
delivery data and the best possible price.
Goods
Received Note.
v This entail that deliveries of
materials to business should be inspected against the order, to ensure that the
quantity and quality are correct.
Supplier’s
Invoice
v This is a document which shows the
particular of goods supplied.
Scrap
v This is any material, raw or
manufactured, which is useless for it’s original purpose but many still have
some recovery value.
Department | Business Administration and Management |
Project ID Code | BAM0081 |
Chapters | 3 Chapters |
No of Pages | 52 pages |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |