Description
ABSTRACT
The need for efficient management and control of inventory in manufacturing industry cannot be growing realization of the importance of stock control and management in manufacturing industry due to the material cost element of product involved. The objectives of the study is to evaluate the inventory management and control system using KP Beverage Nigeria Limited, Ogidi as a case study, to ascertain the optimal stock level to hold so as to meet up with the customers demand without being overstocked or understocked. The method employed in valuation of its materials at the end of each accounting period was also examined matching the cost of goods sold or used for services by the firm. The personal interview and administrative of questionnaire as her primary source of data and review of literature and records of the firm as her secondary source of data were used by the researchers and the sampling size of the study were thirty staffs of KP Beverage. In the information fathered, it was found that inventories are maintained to reduce uncertainties in business environment and holding the optimal quantity of inventory reduces the total cost as well as meeting customer’s requirement. It was concluded that proper management and control of inventory aids management of the organization in achieving its set of objectives effectively. It was recommended that the firm should tights up its security in order to reduce pilferages on part of staff and adopt computers.
TABLE OF CONTENTS
Title page
Approval page
Certification
Dedication
Acknowledgement
Table of content
Abstract
Chapter I:
INTRODUCTION
Background of the Study
Statement of the problem
Purpose of the study
Significance of the Study
Assumption of the study
Research question
Definition of terms
Chapter II:
LITERATURE REVIEW
Nature of Stock/Inventory
Definition of Stock
Classes of Stock
Inventory Management Control
Reasons for Holding Inventories
Optimal Cost of Order
Stock Cost
Stock out Cost
The Ordering Cost
Cost of Staring Stock/Holding Cost/Carrying Cost
Optimal Quantity to Order
Assumption of Economic Order Quantity (ECQ)
Stock Valuation
Features of Sound System of Material Control
Summary of Review
Chapter III:
RESEARCH METHODS
Design of the Study
Area of the Study
Population of the study
Sample of the study and sampling techniques
Instrument for data collection
Validation and reliability of the instrument
Distribution and Retrieval of instrument
Method of Data Analysis
CHAPTER IV
Data Presentation and Analysis
CHAPTER V:
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
Summary of Findings
Conclusion
Recommendation
Limitation of the Study
Suggestion for further Research
References
Appendix