Abstract
PROPOSAL
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First, management planning is the process of selecting objective purpose or goals and deciding generally and especially what should be done to action those objectives.
It is carried out at a corporate level which cover the entire organization with the attention to various departments, section, division or units that make up the organization. An important aspect of management planning is the study of the environment in which the organization operates.
Such study includes past history, presentation and the projection into the future of the company in order to complete favourable and efficient in the environment and consequently lead to the accomplishment of organization objection.
This research is also design to access the components of the management planning formation and implementation and describe in details the various approaches to management planning.
- This project is dividual into five chapters the chapter one will be introduction of the topic of the researcher, statement of problem objective of study, significant of the study, scope of study limitation of study historical background of case study.
- Chapter two will present the literature review, classification of stock, items, stock turnover, requisition and issue of stock, stock valuation, receipt and’ issues of stock, duties and responsibilities of stock keeper.
TABLE OF CONTENTS
Title Page
Certification
Dedication
Acknowledgement
Abstract
Table of Contents
CHAPTER ONE
1.1 Introduction
1.2 Statement of Problems
1.3 Objective of Study
1.4 Significant of the Study
1.5 Scope of the Study
1.6 Limitation of Study
1.7 Historical Background of Case Study
1.8 Definition of Term of Historical Background
CHAPTER TWO: – LITERATURE REVIEW
2.1 Classification of Stock Items
2 2 Stock Turnover, Requisition and Issues of Stock
2.3 Stock Valuation Receipt and Issues of Stock
2.4 Stock Taking Reclamation, Procedure and Principle
2.5 Duties and Responsibilities of Stock Keeper
CHAPTER THREE: – RESEARCH METHODOLOGY
3.1 Research Design and Methodology
3.2 Area of Study
3.3 Sample Frame/Population
3.4 Instrument for the Data Collection
3.5 Methods of Data Collection
3.6 Methods of Data Analysis
3.7 Restatement of Research Question
CHAPTER FOUR
4.1 Presentation Analysis of Data
4.2 Data Interpretation
4.3 Analysis of Data
CHAPTER FIVE
5.1 Summary
5.2 Conclusion
5.3 Recommendation us
CHAPTER ONE
1.1 INTRODUCTION
A company is expected to maintain adequate stock of material for a continuous supply of raw material to the factor for an interrupted production It is not possible for a company to procure raw material whenever it is needed, and more so the finished goods manufactured by a company cannot be sold of the sometime, a time log exists between demand for material and supply.
The procurement of material may be delegated because of such factors as strike, transport , disruption, short supply etc therefore there is a need for a firm to maintain sufficient stock of raw material at a given time to streamline production to maintain the concept and conservation of account. The continuity existence to adequate raw materials for economics purpose.
The managing inventory the firm objective should be constant with wealth maximum principle. To obtain or achieve this firm should determine it optimum level of inventory should be maintained neither excessive nor in adequate.
The control of inventories and management of store house in common with the other major branches of commercial and individual work become specialist activities.
The stores should be considered as a temporary location for materials needed for operational purpose and should be planned, organized and operate in such a way that the period of residence of each stock items is as short as possible consistent with economic operation.
The only good reason for carrying operating stock is that the materials in needed obsolete, redundant or supply material are sent on its custody.
In general, if demand is steady or highly predictable then we should store for very short period if at all when demand is highly unpredictable then storage for longer period may be necessitated.
There is no standard system of store keeping which and e universally recommended or applied but in the course of me certain principle and practices of more or less general application haven been involved large sums of money are involved and it is essential or organic to stock management or sores function so that the investment is kept to the minimum from the stores point of view the most important thing is to keep the quantities of incoming goods in their appropriate and respective position and necessary records and transaction follows immediately shortage must be avoided or else production line will have to stop.
- The objectives of store function are: –
v To make available a balance flow of raw materials components tools equipment and any other commodities necessary to meet operation requirements.
v To provide maintenance materials spares and general storage for community of existence.
v To receive and issue work — in — progress and finished production. Production is not completed until it goes to final consumers.
v To accept other discarded materials as it arises.
v For the efficient operation of the stores system and for the achievement of the stated objectives. It is necessary for an organization to have a strong stock control procedure.
1.2 STATEMENT OF PROBLEM
This study is aimed at finding out the following problems facing manufacturing industries with particular reference to stock taking as a control measure.
- 1.To verify the accuracy of store record
- 2.To compare the balance sheet records with physical verification.
- 3.To disclosed the possibility of fraud (Thief /Loss)
- 4.To reveal if there is any weakness in the system for the custody and control of stocks.
1.3 OBJECTIVE OF THE STUDY
This research like any other is carried out in order to achieve some objectives such as:
1.To identify problems associated with carry out effective inventory management or stock function.
2.To ascertain the problem of ineffectively handling of stock (problem definition).
3.To forestall the possibility of fraud occasional by theft/loss (Analyzed the problem & prevented of loss).
4.To resolve the level of stock to be added when inventory should be replenished.
5.Order quantity problem i.e. colour, brand, size etc
1.4 SIGNIFICANCE/IMPORTANCE OF THE STUDY
The study will enable the management of any organization to: –
- Identify any pay attention to their role in ensuring smooth stock management so as to achieve the corporate goal and objective of the company.
- Identify the effectiveness and efficiently of the organization through the stock management skills or techniques.
- Show how organization should carefully pay attention to receiving and issuing of materials the level at which it is necessary to place an order and with what quantities.
Give an overview of the experience to the management and accounting students who may like to carry out a similar research in the future.
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