Need For Efficient Stock Control In An Organization
For any organization to be successful, it will take the issue of efficient stock control serious. It has been stated clearly that the need for efficient stock control in any organization is necessary. Therefore, management of any organization should know that inefficiency procurement of materials can seriously affect the financial health of the organization resulting to its closure. Purchasing as has earlier stated is the hub of any business organization. so to decentralize the function of purchasing is to deny a firm some of its potential profits. But centralization of purchasing function is essential for the attainment of both optimum operating efficiency and maximum profitability. A company’s purchase should motivate its stock control with other staff. Finally, if this procedures is followed, purchasing objective will be ensures it term of obtaining material of the right quality and right quality of the material from the right source, at the right time and place for effective stock controlling. Therefore, this research concentrates on the need for efficient stock control in an organization and suggested possible ways to improve efficient stock control in any organization.
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Title page i
Approval page ii
Dedication iii
Acknowledgement iv
Abstract vi
Table of contents vii
CHAPTER ONE
1.0 Introduction 1
1.1 Background of the study 1
1.2 Statement of the problems 2
1.3 Objective of the study 4
1.4 Research questions 5
1.5 Relevance of the study 6
1.6 Scope of the study 7
1.7 Limitation of the study 8
1.8 Definition of terms 10
CHAPTER TWO
2.0 Literature review 11
2.1 The meaning of stores and stock control 11
2.2 The basic process of stock control 12
2.3 Objectives of stock control 13
2.4 Reasons why organization hold stock 15
2.5 What should be stocked? 17
2.6 Cost implication in holding stock 17
2.7 Factors affecting the level of stock held by an organizatio20
2.8 Methods of controlling stock 22
2.9 The need for stock control in an organization 25
CHAPTER THREE
3.0 Research design and methodology 27
3.1 Introduction 27
3.2 Research design 27
3.3 Sources / methods of data collection 28
3.4 Population and sample size 31
3.5 Sample techniques 31
3.6 Method of data analysis 31
CHAPTER FOUR
4.0 Presentation and analysis of data 33
4.1 Introduction 33
4.2 Presentation of data 34
4.3 Analysis of data 34
CHAPTER FIVE
5.0 Summary, conclusion, and recommendation 42
5.1 Summary of findings 42
5.2 Conclusion 43
5.3 Recommendation 44
Bibliography 46
Appendix 47
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