The Need for Effective Stock Control in an Organization
The Need for Effective Stock Control in an Organization.
ABSTRACT
This study focuses on the need for effective stock control in an organization references to Jacobs Wine Limited Mgbidi.
Effective and efficient stock control involves assessing these items to be held on stock deciding what and when to stock, regulating the issues of stock from the storehouse.
From the data, effective and efficient stock control is an order to give rise to the organization’s productivity and at the same time reduce or completely eliminate redundancy and represent money and has a direct relationship with the profitability and liabilities of our firms.
TABLE OF CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of contents vi
Chapter One
1.0 Introduction 1
1.1 Background Of The Study 2
1.2 Statement Of Problems 5
1.3 Objectives Of The Study 7
1.4 Research Questions 7
1.5 Significance Of The Study 8
1.6 Scope Of The Study 9
1.7 Limitation Of The Study 11
1.8 Definition Of Terms 11
Chapter Two
2.0 Literature Review 15
2.1 Definition Of Stock Control 16
2.2 Aims Of Controlling Of Stock 18
2.3 Point To Consider When Controlling Stock 19
2.4 Method Controlling Stock 21
2.5 Stock Levels 23
2.6 Characteristic Of Stock Control Systems 27
2.7 Importance Of Stock Control 27
2.8 Stock Turn Over 28
2.10 Controls For Returnable Container 31
Chapter Three
3.0 Research Design And Methodology 32
3.1 Research Design 33
3.2 Source/Method Of Data Collection 33
3.4 Population Of Study And Sample Size Determination 35
3.5 Sampling Techniques 37
3.6 Validity And Reliability Of Measuring Instruments 38
3.7 Method Of Data Analysis 39
Chapter Four
4.0 Presentation And Analysis Of Data 40
4.1 Presentation Of Data 40
4.2 Analysis Of The Data 41
4.3 Interpretation Of Result(S) 46
Chapter Five
Summary, Conclusion And Recommendation 47
5.1 Summary 47
5.2 Conclusion 48
5.3 Recommendations 49
Bibliography 51
Appendix 52
Questionnaire 53
INTRODUCTION
The purpose of this work is the need to maintain high standards of audit work. The purchaser may be held liable for negligence in a particular circumstance where an organization or person suffers loss or change as a result of the failure of a purchase to discourage the fiduciary duty imposed on him by law that may be liable for negligence may be instituted against him in a court of law.
To ensure that the quality of audit work is still high he should then establish a means of maintaining the job on his behalf is a case of purchasing and stock control parishioners these are job on his behalf, is case for purchasing and stock control parishioners, these are Jacob with many pressures from clients to maintain their fee levels or even reduce them.
This may not be unconnected with the present economic condition in the country which is holding almost all business organization in most companies, unlike the case study of this project “on the organization the stock control firms are made to perform both the purchasing and stock control discuss the meaning of audit, management reason for audit recording and control.
The purchasing operational standard states that, the purchasing should satisfy himself as to the quality of the world delegated to others in so doing he should establish adequate control procures. The control procedure will include the proffer allocation of staff of appropriate ability proper briefing of staff and review of the work done by others.
There are also improvement in areas like decision making regarding the assets and ensuring the completeness and accuracy of the organization’s books.
REFERENCES
Morrison (1977) storage and control of stock for industry and public under takings. 2nd edition, Pitman Publishing Limited, London.
Adin, B.T. (1980): Stock control in manufacturing industries 2nd edition, Gower Press Great Britain.
David Jessop & Alex Morrison (1994) Storage and Supply of materials Pitman Publishing, London.
Kenneth Lysons and Gillingham (2003): Purchasing and Supply Management.
Udoh Chris M. and Oyeoku O.K (2009), Stores Operation and Management Gastony & Associates Nig. Ltd.
Uzor A.M. (2003), Practice Store Management Bon Publication, Owerri Nigeria.
