Analysis of the Problems and Prospects of Inventory Control in a Manufacturing Company (A Case Study of Nigeria Bottling Company Plc Ilorin Plant)

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TABLE OF CONTENTS

TITLE PAGE                                                                                     PAGES

CERTIFICATION                                                                                       I

DEDICATION                                                                                            II

ACKNOWLEDGEMENT                                                                           III

LIST OF TABLE                                                                                         IV

CHAPTER ONE

1.1           BACKGROUND OF THE STUDY                                                 1

1.2           STATEMENT OF THE PROBLEM                                                  2

1.3           AIMS AND OBJECTIVE                                                                 3

1.4           SIGNIFICANCE OF THE STUDY                                                   4

1.5           SCOPE AND LIMITATION OF THE STUDY                                6

1.6           RESEARCH METHODOLOGY                                                       8

1.7           THE HYPOTHESIS OF THE STUDY                                             8

1.8           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.

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APA

Frontiers, E. & HND/09/ACCT/FT/, A (2021). Analysis of the Problems and Prospects of Inventory Control in a Manufacturing Company (A Case Study of Nigeria Bottling Company Plc Ilorin Plant). Afribary. Retrieved from https://afribary.com/works/analysis-of-the-problems-and-prospects-of-inventory-control-in-a-manufacturing-company-a-case-study-of-nigeria-bottling-company-plc-ilorin-plant

MLA 8th

Frontiers, Edu, and A HND/09/ACCT/FT/ "Analysis of the Problems and Prospects of Inventory Control in a Manufacturing Company (A Case Study of Nigeria Bottling Company Plc Ilorin Plant)" Afribary. Afribary, 26 Dec. 2021, https://afribary.com/works/analysis-of-the-problems-and-prospects-of-inventory-control-in-a-manufacturing-company-a-case-study-of-nigeria-bottling-company-plc-ilorin-plant. Accessed 24 Jan. 2022.

MLA7

Frontiers, Edu, and A HND/09/ACCT/FT/ . "Analysis of the Problems and Prospects of Inventory Control in a Manufacturing Company (A Case Study of Nigeria Bottling Company Plc Ilorin Plant)". Afribary, Afribary, 26 Dec. 2021. Web. 24 Jan. 2022. < https://afribary.com/works/analysis-of-the-problems-and-prospects-of-inventory-control-in-a-manufacturing-company-a-case-study-of-nigeria-bottling-company-plc-ilorin-plant >.

Chicago

Frontiers, Edu and HND/09/ACCT/FT/, A . "Analysis of the Problems and Prospects of Inventory Control in a Manufacturing Company (A Case Study of Nigeria Bottling Company Plc Ilorin Plant)" Afribary (2021). Accessed January 24, 2022. https://afribary.com/works/analysis-of-the-problems-and-prospects-of-inventory-control-in-a-manufacturing-company-a-case-study-of-nigeria-bottling-company-plc-ilorin-plant