Key Features:
- No of Pages: 37
- No of Chapters: 03
Introduction:
Abstract
As the topic states, that is “the need for efficient inventory management in a manufacturing company.
One major component of this cost in many manufacturing organization that desires the att4ention of management in the investment in inventories” otherwise known as stock one will then say that really manufacturing companies face inventorying management problems of what the researcher tried to analyze and burring possible solution to that effect the problems associated with inventory management are unavailability of raw materials, the determinations of optimum level of stock as well as the discrepancy between policy and practice in stock management.
In carrying out the research work, some research work, some research questions were asked such as:
a. Does the company make policy decision about stock management?
b. Does inventory planning involve the determination of such factors as market demand and plant capacity.
c. What benefit are derived from maintaining inventory at their optimal level?
The simple random sampling techniques was used and their method of data collection used were oral interview, company journals, textbooks and questionnaires which were mostly structured the department act as source of data for planning and controlling of stocks.
Moreover, from the analysis of data gathered, it was revealed that the company makes decision about stock management and also that stock can be allowed to leave the stores without requisition being made for it in order to meet up with emergency.
Based o the above analysis carried out, it was also fathered that inadequate information flow, rapid inflationary pressure as well as ill organized storage system are factors that militating against efficient inventory management in the company.
Economic order quality, stocks budget minimum – maximum stock levels are used as means of controlling stock.
The research writer recommends that the company should set up stock management committee I ensure that there is adequate information flow about inventory management and organize perfect storage system for the stocks.
In order to guide against inflation market price of valuing inventory is recommended there should be optimum stock level to avoid under or over stocking
Table of Content
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF STUDY
1.2 STATEMENT OF THE PROBLEM
1.3 OBJECTIVES OF THE STUDY
1.4 SIGNIFICANCE OF THE STUDY
1.5 RESEARCH QUESTION
1.6 SCOPE OF THE STUDY
1.7 REFERENCES
CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 RESEARCH AS AN INSTRUMENT OF AN ORGANIZATIONAL EFFECTIVENESS
2.2 THE ORIGIN OF THE SUBJECT
2.3 DIVISION OF RESEARCH SYSTEM
2.4 RESEARCH CONTROL WITHIN AND OUTSIDE THE ORGANIZATION
2.5 INFORMATION COLLECTION AS A BASIS IN RESEARCH
2.6 RESEARCH INSTRUMENT
2.7 REFERENCES.
CHAPTER THREE
3.0 DATA PRESENTATION AND DATA ANALYSIS
3.1 RESEARCH QUESTION
3.2 SUMMARY OF FINDINGS
3.3 RECOMMENDATION
3.4 CONCLUSION
3.5 REFERENCES
Introduction
1.1 BACKGROUND OF THE STUDY
There has been many definitions of the term “Research”, but the one the researcher is gang to use in this work states that “Researcher is the systematic and scientific method of finding solutions to a problem”. From the definition above, we take the problem to mean, a situation where there is an established difficulty without any immediate remedy. It also means some mal functioning of a part of a system. A problem can also mean anything that impedes the smooth running of a system or anything of interest to carryout investigation on. It can be positive or negative. A problem is said to be positive when the course of interest understudy is advantageous to the company. Example, why people prefer coca-cola to other products. It is also negative when the problem is tarnishing or deteriorating the smooth running of he organization, example, why there is decrease in the sales of “sprite”.
Many organizations after formation or birth go off or folds or sometimes are unable to grow and develop financially, economically and otherwise.
These problems are as a result of many causes in which lack of or ignorance of research work is one of them. On the other hand, when well viewed it would be noticed that research work is of great benefit because it exposes the organization missing links.
Research is also most effective when carried accordingly, that is, it must be purely systematic and scientific in nature.
Research as a discipline also helps to make new discovers because the researcher must have gone through all necessary requirements to note what to do and what ought not to be done.
Infect, management and research should be referred to as the body and soul of organization because without it (Research). The tendency of the growth of any organization will be foolaw. Research supplies management with data, which reduces the risks in decision making, thereby enhancing the change of success.
This project is designed to meet the needs of such vital benefits and asphodel’s of research using Nigerian bottling company plc. Enugu as a case of study.
The nature of this work requires theoretical approach and a analysis which will cover such dimension as:
1. The influence of information on research in organization.
2. Research and management as an inseparable body.
3. Lack of understanding that creates problems between management and researchers.
a. Information is said to be the life –wire of every business. It also has a vital role to play in organization research work. It is also said that “ to mange information is to mange business well” (Manian Harper).
Some internal information of the organization are; answers from questionnaire within the organization, oral interview of workers, past records etc. External information may include; field survey, population survey, market survey competitors or other organization records.
b. Research and management as an inseparable body, in any organization, the main duty of management is decision making and any decision made is based 80% on the research findings what to produces and ho to produce. Even the distribution aspect of it,will be determined by the research work.
c. Lack of understanding creating some problems between management and researchers.
Management lays the following blames on researcher:
1. That research is not problem oriented. It tends to provide plethora of facts but, not actionable projects.
ii. Those researchers die too involved with techniques and they appear to be reluctant to get involved in management problems.
iii. Research has shown vague, and questionable validity.
iv. Research cannot communicate, they do not understand and they do not talk the language of management.
Researchers also have these complaints about management:
i. Management does not include research in decision-making. Management tends to also only for specific information about parts of problems.
ii. Management pays more than … services to research and does not really understand or appreciate its value.
iii. Management does not allow enough time for research. They draw preliminary conclusion based on early or incomplete results.
iv. Management relies more on intoning and judgment than on research. Research is used as a crutch, not as a tool.
These misunderstandings are features of management and research. In order to accomplish this work, the Nigeria bottling company plc. Is the organization that would be used as case study because it uses research questions in its information on and research development?
The company holds a franchise of coca-cola company of the United States of America. The company is bother of mineral water, soft drinks such as coke, fanta, orange, tonic, ginger, and Chapman, sprite, club soda and other latest fanta lemon. Their branches are scattered all over the world. Coca –cola is one of the detest mineral soft drinks manufacture in the world.
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