PRODUCTION PLANNING AND CONTROL OF OPERATIONAL COST OF MANUFACTURING INDUSTRIES IN NIGERIA

Gweason Innocents 57 PAGES (12878 WORDS) Project
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ABSTRACT   

Scarce resources must be properly planned and controlled using scientific approaches to control cost of allocating them. The root cause of undue production and high cost of production can neither be easily traced using traditional method nor past experience even computer systems. This study used Linear Programming Model to plan production of Products of Adama Beverages Limited. The aim was to apply Linear Programming Model to determine the products and how many to produce to ascertain Planning and Control of Operational Cost. Secondary Data was collected on supply of products, interview and observation on production process of the company was made, and Linear Programming Model was formulated for the problem. Results were derived using TORA Software. The best products, which will maximize profit, were determined by the model and the company is recommended to embark strictly on scientific approaches to plan production in order to control operational cost.


  TABLE OF CONTENT


TITLE                                                                                                                        PAGE


CERTIFICATION                                                                                                     I


DEDICATION                                                                                                           II


ACKNOWLEDGMENT                                                                                           III


ABSTRACT                                                                                                               IV


TABLE OF CONTENT                                                                                             V


LIST OF TABLES                                                                                                     VII


CHAPTER ONE


1.1       BACKGROUND OF STUDY                                                                      1


1.2       STATEMENT OF THE PROBLEM                                                             2


1.3       AIM AND OBJECTIVES                                                                             3


1.4       JUSTIFICATION OF THE STUDY                                                             3


1.5       SIGNIFICANCE OF THE STUDY                                                              3


1.6       SCOPE OF THE STUDY                                                                              3


1.7       DEFINITION OF TERMS:                                                                           3


CHAPTER TWO


2.1       INTRODUCTION                                                                                         5


2.2       LINEAR PROGRAMMING (LP) MODEL                                                 5


2.3       REVIEW OF EMPIRICAL STUDIES ON LP MODEL                             6


2.4       THE CONCEPT OF PRODUCTION PLANNING AND CONTROL       7


2.5       THE CONCEPT OF OPERATIONAL COST                                              10


CHAPTER THREE


3.1        INTRODUCTION                                                                                          12


3.2        RESEARCH DESIGN                                                                                   12


3.3       METHOD OF DATA COLLECTION:                                                        12


3.4         METHOD OF DATA ANALYSIS                                                              12


3.5      LINEAR PROGRAMMING MODEL FORMULATION                           12


CHAPTER FOUR


4.1       INTRODUCTION                                                                                         14


4.2       DATA PRESENTATION                                                                              14


4.3       ANALYSIS                                                                                                    25


4.4       RESULT OF THE ANALYSIS                                                                    26


4.5       DISCUSSION OF THE RESULT                                                                26


CHAPTER FIVE


5.1       SUMMARY:                                                                                                  27


5.2       CONCLUSION:                                                                                            27


5.5       RECOMMENDATIONS                                                                               27


REFERENCES                                                                                                          29


APPENDIX                                                                                                                30


 


 


 


 


 


 


 


 


LIST OF TABLES


TABLE 4.1: JANUARY 2015                                                                                   15


TABLE 4.2: FEBRUARY 2015                                                                                15


TABLE 4.3: MARCH 2015                                                                                       16


TABLE 4.4: APRIL 2015                                                                                          16


TABLE 4.5: MAY 2015                                                                                             17


TABLE 4.6: JUNE 2015                                                                                            17


TABLE 4.7: JULY 2015                                                                                            18


TABLE 4.8: AUGUST 2015                                                                                      18


TABLE 4.9: SEPTEMBER 2015                                                                               19


TABLE 4.10: OCTOBER 2015                                                                                 19


TABLE 4.11: NOVEMBER 2015                                                                             20


TABLE 4.12: DECEMBER 2015                                                                              20


TABLE 4.13: TOTAL MONTHLY DISTRIBUTION IN CARTONS FROM


JANUARY TO JUNE 2015                                                                                       21


TABLE 4.14: FINISHED GOODS STOCK VALUATION                                               22


TABLE 4.15: THE BASIC DATA OF THE WHOLE PRODUCTION                  23


TABLE 4.16: FINAL ITERATION                                                                          25


TABLE 4.17: OPTIMAL SOLUTION                                                                      26


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APA

Gweason, I (2019). PRODUCTION PLANNING AND CONTROL OF OPERATIONAL COST OF MANUFACTURING INDUSTRIES IN NIGERIA. Afribary.com: Retrieved December 09, 2019, from https://afribary.com/works/production-planning-and-control-of-operational-cost-of-manufacturing-industries-in-nigeria

MLA 8th

Innocents, Gweason. "PRODUCTION PLANNING AND CONTROL OF OPERATIONAL COST OF MANUFACTURING INDUSTRIES IN NIGERIA" Afribary.com. Afribary.com, 04 Aug. 2019, https://afribary.com/works/production-planning-and-control-of-operational-cost-of-manufacturing-industries-in-nigeria . Accessed 09 Dec. 2019.

MLA7

Innocents, Gweason. "PRODUCTION PLANNING AND CONTROL OF OPERATIONAL COST OF MANUFACTURING INDUSTRIES IN NIGERIA". Afribary.com, Afribary.com, 04 Aug. 2019. Web. 09 Dec. 2019. < https://afribary.com/works/production-planning-and-control-of-operational-cost-of-manufacturing-industries-in-nigeria >.

Chicago

Innocents, Gweason. "PRODUCTION PLANNING AND CONTROL OF OPERATIONAL COST OF MANUFACTURING INDUSTRIES IN NIGERIA" Afribary.com (2019). Accessed December 09, 2019. https://afribary.com/works/production-planning-and-control-of-operational-cost-of-manufacturing-industries-in-nigeria