ANALYSIS OF THE PROBLEMS AND PROSPECTS OF INVENTORY CONTROL IN A MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC ILORIN PLANT)


ANALYSIS OF THE PROBLEMS AND PROSPECTS OF INVENTORY CONTROL IN A MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC ILORIN PLANT)

Type: Project Materials | Format: Ms Word | Attribute: Documentation Only | Pages: 60 Pages | Chapters: 1-5 chapters | Price: ₦ 3,000.00

2,009 marked this research material reliable.
Call or whatsapp: +2347063298784 or email: info@allprojectmaterials.com

TABLE OF CONTENTS

 

TITLE PAGE                                                                                 PAGES

 

CERTIFICATION                                                                                            I

 

DEDICATION                                                                                        II

 

ACKNOWLEDGEMENT                                                                       III

 

LIST OF TABLE                                                                                    IV

 

CHAPTER ONE

 

BACKGROUND OF THE STUDY                                             1

STATEMENT OF THE PROBLEM                                             2

AIMS AND OBJECTIVE                                                             3

SIGNIFICANCE OF THE STUDY                                               4

SCOPE AND LIMITATION OF THE STUDY                            6

RESEARCH METHODOLOGY                                                   8

THE HYPOTHESIS OF THE STUDY                                         8

ORGANIZATION AND PLANS OF THE STUDY                      9

CHAPTER TWO

 

2.O    LITERATURE REVIEW11

 

2.1     INVENTORY CONTROL DEFINITION AND TYPES                         11

 

2.2     IMPORTANCE OF INVENTORY CONTROL                            12

 

2.3     MATERIAL PURCHASE                                                             12

 

2.4     MATERIAL STORAGE                                                                         13

 

2.5     CENTRALIZATION OF MATERIAL STORAGE                                 13

 

2.6     INVENTORY VALUATION METHOD (MATERIAL PRICING) 14

 

2.7     STOCK TAKING                                                                                   16

 

2.8     BRIEF HISTORY OF THE ORGANIZATION                            17

 

2.9     COMPUTERIZATION OF NBC PLC                                               18

 

2.10   CALCULATING THE ECONOMIC ORDERING QUANTITY (EOQ)                                                     `                                          19

 

CHAPTER THREE

 

3.0     INTRODUCTION                                                                                 24

 

3.1     RESEARCH DESIGN                                                                 25

 

3.2     POPULATION OF THE STUDY24

 

3.3     SAMPLE SIZE24

 

3.4     SOURCE OF DATA AND DATA COLLECTION INSTRUMENT25

 

3.5     QUESTIONNAIRE BASIC ASSUMPTION                                         26

 

3.6     STATISTICAL TECHNIQUES/TOOLS                                      26

 

3.7     PROFILE OF THE CASE STUDY                                               26

 

CHAPTER FOUR

 

4.0     DATA ANALYSIS AND PRESENTATION                                28

 

4.1     INTRODUCTION                                                                                  28

 

4.2     CHARACTERIOSTICS OF RESPONDENT ANALYSIS           28

 

4.3     THE HYPOTHESIS RESULT                                                                33

 

4.4     DISCUSSION OF FINDINGS                                                           34

 

CHAPTER FIVE

 

5.0     SUMMARY OF INDINGS, CONCLUSSION AND RECOMMENDATION                                                                     37

 

5.1     SUMMARY OF FINDINGS                                                         37

 

5.2     CONCLUSSION                                                                           38

 

5.3     RECOMMENDATION                                                                      38

 

BIBLIOGRAPHY                                                                               40

 

QUESTIONNAIRE                                                                            41       

 

CHAPTER ONE

 

1.1     BACKGROUD OF THE STUDY

 

          A major problem facing the stock control has affected the growth of business or company is the determination of an economic order quantity that will minimize total inventory cost. The purchasing department only orders the amount needed to attain the maximum stock level whenever stock reaches or fall below the minimum stock level. While the company fails to realize that the minimum level does not have to be attained always, it has cost implications whenever stock falls below minimum level, ordering cost per unit decreases as quantity increases, however, there will be an increase in carrying cost. Hence, total cost is not minimized whenever the quantity order is greater than the optimum required that is the economic order quantity.

 

          The company is faced with the problem of delayed with regards to local supplies of its production materials such as sugar, and water bottle soften carbon(iv)oxide02. even though local supplies constitute only 28% of the total production material used in most cases, supplies fail to meet the delivery date upon because they do not know the exact materials required and yet will not admit ignorance. The high value part of the materials on the one hand and the financial inability on the part of suppliers initially may not realize the huge amount of capital involved with the result that they will not supply at all  and fail to inform the company of their inability to supply.

 

          Consequently, the company incurs cost in sending remainders and in cancellation of orders prompt delivery of production material is of primary concern to management.

 

          Delay in the delivery of these materials will lead to the increment of enormous cost by the company.

 

1.2     STATEMENT OF THE PROBLEM

 

          The importance of stock in any organization can be over emphasized and its control must be accorded a great attention so as to minimize some of the problems associated with inventory control. Some of these problems are:

 

inventory valuation method are many

There are improper record keeping

The supply of raw material by contractors is ineffective

No policy regarding minimum and maximum stock levels determination

The company adopts manual  inventory control system

The bi-annual stock taking is not enough for effective control.

B.      PROBLEM OF STOCK MANAGEMENT DUE TO INEFFECTIVE STOCK CONTROLL SYSTEM

 

          For accurate pricing of stock, these has to be an effective means of recording the movement of stock. This is to say that the recording must be up to date regarding materials prices. The following are major problem of stock management due to ineffective stock control system.

 

Material are brought at different prices

These material becomes unidentifiable from other undesirable from costing point of view

Profit calculation is affected by the pricing method adopted by an organization, particularly where materials from a large of raw material due to suppliers cause problem of stock inefficiency management

Storage: material like concentrates chemical require fully air conditioned, very cold room

Ineffective supply of raw material due to suppliers cause problem of stock inefficiency management.

Capital tied down due to ineffective control system

Quality of materials; there may be available found but in absence of materials of the desired quantity for graded materials, problems ensure.

1.3     AIMS AND OBJECTIVE OF THE STUDY

 

          Inventory forms a large proportion of any firms working capital and therefore, there is need for effective control by management which is like major  objective of this study on inventory control system

 

To have a general critical review of managing problems arising from stock control of the  soft drinks industry

The Bi – annual stock taking adopted by NBC plc to be used as a case study industry.

Ways of correcting faulty valuation method and at the same time determine the suitable stock valuation method for the particular circumstances of soft drink companies Nigeria

To check the problem of determining the E.O.Q

To suggest appropriate policy regarding determination of maximum and minimum stock levels.

To look at possible means of bringing to minimum the huge expenditure on stock control

The effective management of available funds will be the result of effective stock control system

Management information system (MIS) to enhance control system on introduction of computer

Clerical operations account for inefficiencies in management control on inventory

To look at the ways of making maximum and effective use of the seemingly washing human resources who are not fully utilized in management control system of stock other implement to efficiency of stock management in organization which with equally draw attention in this study include

Fraud and misappropriation of stock balance (quality) and of pricing (price)

ANALYSIS OF THE PROBLEMS AND PROSPECTS OF INVENTORY CONTROL IN A MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC ILORIN PLANT)

Additional Information

  • The Project Material is available for download.
  • The Research material is delivered within 15-30 Minutes.
  • The Material is complete from Preliminary Pages to References.
  • Well Researched and Approved for supervision.
  • Click the download button below to get the complete project material.

Frequently Asked Questions

In-order to give you the best service available online, we have compiled frequently asked questions (FAQ) from our clients so as to answer them and make your visit much more interesting.

We are proudly Nigerians, and we are well aware of fraudulent activities that has been ongoing in the internet. To make it well known to our customers, we are geniune and duely registered with the Corporate Affairs Commission of the republic of Nigeria. Remember, Fraudulent sites can NEVER post bank accounts or contact address which contains personal information. Free chapter One is always given on the site to prove to you that we have the material. If you are unable to view the free chapter 1 send an email to info@allprojectmaterials.com with the subject head "FREE CHAPTER 1' plus the topic. You will get a free chapter 1 within an hour. You can also check out what our happy clients have to say.
Students are always advised to use our materials as guide. However, if you have a different case study, you may need to consult one of our professional writers to help you with that. Depending on similarity of the organization/industry you may modify if you wish.
We have professional writers in various disciplines. If you have a fresh topic, just click Hire a Writer or click here to fill the form and one of our writers will contact you shortly.
Yes it is a complete research project. We ensure that our client receives complete project materials which includes chapters 1-5, full references, questionnaires/secondary data, etc.
Depending on how fast your request is acknowledged by us, you will get the complete project material withing 15-30 minutes. However, on a very good day you can still get it within 5 minutes!

What Clients Say

Our Researchers are happy, see what they are saying. Share your own experience with the world.
Be polite and honest, as we seek to expand our business and reach more people. Thank you.

Project Information

  • CATEGORY : ACCOUNTING
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 60 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

Share Links

Download Post
Download Post

Search for Project Topics

Recent Topics

Do you need a writer for your academic work?

A Review on analysis of the problems and prospects of inventory control in a manufacturing company (a case study of nigeria bottling company plc ilorin plant), company, analysis, problems project topics, researchcub.info, project topic, list of project topics, research project topics, journals, books, Academic writer.
A major problem facing the stock control has affected the growth of business or company is the determination of an economic order quantity that will minimize total inventory cost. The purchasing department only orders the amount needed to attain the maximum stock level whenever stock reaches or fall below the minimum stock level. While the company fails to realize that the minimum level does not have to be attained always, it has cost implications whenever stock falls below minimum level, ordering cost per unit decreases as quantity increases, however, there will be an increase in carrying cost. Hence, total cost is not minimized whenever the quantity order is greater than the optimum required that is the economic order quantity. The company is faced with the problem of delayed with regards to local supplies of its production materials such as sugar, and water bottle soften carbon(iv)oxide02. even though local supplies constitute only 28% of the total production material used in most cases, supplies fail to meet the delivery date upon because they do not know the exact materials required and yet will not admit ignorance. The high value part of the materials on the one hand and the financial inability on the part of suppliers initially may not realize the huge amount of capital involved with the result that they will not supply at all and fail to inform the company of their inability to supply. .. accounting project topics

ANALYSIS OF THE PROBLEMS AND PROSPECTS OF INVENTORY CONTROL IN A MANUFACTURING COMPANY (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC ILORIN PLANT)