In any manufacturing organization the need for inventory control cannot be over emphasis in that is serve as a potent management tool, verifying the arithmetical accuracy of stock record with physical stock in the store. It also deals with the identification of every stock in the store it is therefore a process of defiling and describing all items in a systematic order. Basically, one of the management objectives is to ensure that at a point in that at any point in time, the capital of the business in hot necessary indeed down in form of malarial in the store that will provide an opportunity for fraud and theft, which may emanate from store operation.
However, the only way of achieving the objective is by proper stock taking as well as injunction of establishes stone system.
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In setting up a business, the value of profit maximizations is very important and in achieved the objective, the organization uses a number of tools out of which inventory control is very prominent and importance.
TABLE OF CONTENTS
Title page
Certification
Dedication
Acknowledgement
Table of contents
CHAPTER ONE:
Introduction
1.1 background to the study
1.2 statement of the problem
1.3 aims and objective of the research
1.4 research question
1.5 Justification of the study and limitation
1.6 Scope of the study
1.7 Definition of relevant terms
1.8 Plan of the study
CHAPTER TWO
Literature review
2.1 concepts relevant to the research
2.2 meaning of inventory
2.3 objective of holing inventories
2.4 inventory control
2.5 stock taking and stock checking
2.6 stock levels
2.7 cost of inventory
2.8 receipt and inspection
2.9 requirements for receipt from outside suppliers
2.10 rejection
CHAPTER THREE
Research methodology
3.1restatements of research questions
3.2research design
3.3data collection instruments
3.4limitation of methodology
CHAPTER FOUR:
Presentation, analysis, and interpretation of data
4.1introductions.
4.2presentations of data
4.3analyses of data
4.4 interpretations of data according to research question
CHAPTER FIVE:
Summary, conclusion and recombination
5.1summaries of findings
5.2conclusions
5.3 recommendations
5.4suggestions for further studies
Bibliography
Appendix.
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
In setting up a business, the value on profit maximizing is very important and in achieved this objective, the organization uses a number of tolls out of which inventory controls are very prominent and important.
In any manufacturing organization the need for inventory control cannot be over emphasis in that it serves as a potent management toll verifying the arithmetical accuracy of stock record with physical stock in the store.
It also deals with the identification of every stock in the store its is therefore a process of defining and describing all items in a systematic order.
Basically, one of the management objective is to ensure that at any point in time, the capital of the business is not necessary treed down in form of malarial in the store that will provide an opportunity for fraud and theft, which may emanate from store operation. However the only way of achieving this objective is by proper stock taking as well as injunction of establishes store system.
Stock that represent part of asset of an stock that represent part of asset of an organization should be looked after very carefully and must be well protected in the manufacture business available of production with its possible effect on production and level.
IN ADDITION AND LEVEL.
In addition at the end of each financial year whether in the public of private sector the need to value the closing stock for inclusion in the balance sheet is of paramount importance. Therefore to ensure adequacy of stock valuation there must be an effective stock control or stock taking
Stock control is defined as the activity of determined the level and quantities of malaria which should be stock to meet the whole variety of stock
Requirement of the organization with as narrow selection of receipts and issue of these materials stock control therefore ensure that stock out do occurs and that surplus stock are not tied down it also involved the related process of replenishment which indicated instruction given for the placing of order. It is necessary and appropriate at this point to mention that stock taking is this important and essential in the area of cost control it enhance strong familiarity of the stock take with stock item and contribute to the possible control of stock avoiding overstocking or under stock.
Finally, stock of inventory in the store studied and concluded by several business statisticians on the study of corporate balance sheet usually constitute about 220 to 25 percent of investment capital.
1.2 STATEMENT OF THE PROBLEM
The is no estimation of issue without its own problem the research on this project is not an exception because it has been subjected to series of setback and inexplicable constraint.
In the first instance, the major limitation is that of financial constraint for in this hard time, it is difficult to raise money to finance.
This project i.e for traveling buying of the entire material needed and other thing necessary for use e.t.c
Also, time factor affected the search for the required information for this project and according to common maxim which says “time is money” it follow that the available time couple with the semester course loads, also effect the carry out this research many lecture were neglected in the course of carrying out this research.
Consequently, there were inadequate textbooks to review for some relevant information to derive fact for the course of this study therefore some stock taking and inventory terms were not used.
More also, it prove a difficult task for us to get information from the case study. This made the period of writing this project longer and the staff to welcome audience and the little time given is not sufficient to get all the information required.
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