The Role of Inventory Management Towards the Success of an Organization (A case Study: Continental Machinery (U) Ltd)

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TABLE OF CONTENTS

Declaration ............................................................................................. .ii

Approval. ............................................................................................ .iii

Dedication ........................................................................................... .iv

Acknowledgement .................................................................................. v

Table of contents .................................................................................... vi

Abstract .............................................................................................. .ix

List of tables .......................................................................................... x

List of diagrams ..................................................................................... xi

CHAPTER ONE

1.0 Introduction .................................................................................... 1

1.1 Background ..................................................................................... 1

1.2 Statement of the problem .................................................................... 5

1.3 Purpose of the study .......................................................................... 5

1.4 Objectives of the study ....................................................................... 5

1.5 Research questions ............................................................................ 6

I. 6 Significance of the study .................................................................... 6

1. 7 Scope of the study ............................................................................ 7

I. 7.1 Geographical scope ........................................................................... 7

I. 7.2 Period scope ................................................................................... 7

1.8 Conceptual frame work ..................................................................... 7

CHAPTER TWO

LITERATURE REVIEW

2.0 Introduction .................................................................................... 10

2.1 Inventory management practices ............................................................ 1 0

2.2 Components and definitions of inventory management practices ..................... 1 0

2.2.1 Inventory control ............................................................................. 12

2.2.2 Inventory monitoring ........................................................................ 13

. Vl

2.2.3 Inventory information management ....................................................... 14

2.3 Success of an organization .................................................................. 15

CHAPTER THREE

METHODOLOGY

3.0 Introduction .................................................................................. 17

3.1 Research design .............................................................................. .17

3.2 Population ofthe study ...................................................................... 17

3.3 Sample size and sample selection techniques ............................................. 18

3.4 Sample Technique ............................................................................. 18

3.5 Sampling Random Technique ............................................................... 18

3.5.1 Purposive Sampling Technique .............................................................. 18

3.6. Data Collection Method ..................................................................... .19

3.6.1 Questionnaire ................................................................................. 19

3.6.2 Interview ........................................................................................ 19

3.6.3 Documentary Review ........................................................................ 19

3 .6.4 Observation ..................................................................................... 19

3.7 Techniques for data analysis ................................................................... 20

3.8 Limitation of the study ......................................................................... 20

3.8.1 Time constraints .............................................................................. 20

3.8.2 Financial constraints .......................................................................... 20

Organizational stmcture of continental machinery ............................................... 20

CHAPTER FOUR

DATA PRESENTATION AND FINDINGS

3.0 Introduction ................................................................................... 21

4.1 Analytical tools and methods used ........................................................ 21

Vll

4.2 Findings of the study ........................................................................ 22

4.2.1 Kind of inventory methods used in the organization ................................... 22

4.2.2 Number of times on inquiry about inventory ........................................... 24

4.2.3 Problems encountered in inquiry about inventory ...................................... .25

4.2.4 Contribution of inventory management towards the success of an

organization .......................................................................................... 27

4.2.4.1Effect of inventory management on the income variables ............................ .27

4.2.4.2 Impact of inventory management on the organization's consumption

variable ............................................................................................... 29

4.2.5 Reasons that make organizations keep inventory ..................................... 30

CHAPTER FIVE

RECOMMENDATION AND CONCLUSION

5.0 Introduction .................................................................................. 33

5.1 Comments and conclusion ................................................................. 33

5.2 Recommendation ........................................................................... 34

5.3 Areas for further research .................................................................. 35

5.4 Organizational structure of continental machinery ...................................... 36

APPENDIXES

Personal letter to conduct research at continental machinery ................................. 37

Reply of the letter of introduction ................................................................ 38

Questionnaires ....................................................................................... 39

The interview guide ................................................................................. 41

Estimated budget ................................................................................... 42

Calendar of work ................................................................................... 43

Bibliography ........................................................................................ 44

ABSTRACT The study was conducted in Continental Machinery (U) Ltd, with the main purpose of investigating the role of inventory management towards the success of an organization. The study aimed at achieving the following objectives; • To evaluate the influence of inventory monitoring and inventory information management towards the success of an organization at Continental Machinery (U) Ltd. • To examine how inventory information management affects the key drivers of the success of an organization. • To examine how inventory monitoring affects service delivery to Continental Machinery (U) Ltd. The procedures used during data collection included questionnaires, interviews, and library research relevant materials. Data was analyzed by the use of descriptive methods of percentage distributions and frequency distribution. The findings were presented in tables, interpreted and discussed where possible. The major findings of this study was that the inventory management has a positive impact the success of the organization that was shown by improvement in their income levels as well as their living standards, as reflected by the data collected in the field. The study made a number of recommendations that included, holding excessive inventory appear as a simple solution to fulfilling customer demands at any given time. However inventories that are super abundant will result in capital being unnecessarily tied up resulting in loss of opportunity, excessive storage costs, risk of obsolesce, additional labour costs, inventory deterioration, and increase in insurance premiums and general crease in over heads to include depreciation and security costs.

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APA

SAMSON, D (2022). The Role of Inventory Management Towards the Success of an Organization (A case Study: Continental Machinery (U) Ltd). Afribary. Retrieved from https://afribary.com/works/the-role-of-inventory-management-towards-the-success-of-an-organization-a-case-study-continental-machinery-u-ltd

MLA 8th

SAMSON, DHABANGI "The Role of Inventory Management Towards the Success of an Organization (A case Study: Continental Machinery (U) Ltd)" Afribary. Afribary, 22 Aug. 2022, https://afribary.com/works/the-role-of-inventory-management-towards-the-success-of-an-organization-a-case-study-continental-machinery-u-ltd. Accessed 10 Dec. 2022.

MLA7

SAMSON, DHABANGI . "The Role of Inventory Management Towards the Success of an Organization (A case Study: Continental Machinery (U) Ltd)". Afribary, Afribary, 22 Aug. 2022. Web. 10 Dec. 2022. < https://afribary.com/works/the-role-of-inventory-management-towards-the-success-of-an-organization-a-case-study-continental-machinery-u-ltd >.

Chicago

SAMSON, DHABANGI . "The Role of Inventory Management Towards the Success of an Organization (A case Study: Continental Machinery (U) Ltd)" Afribary (2022). Accessed December 10, 2022. https://afribary.com/works/the-role-of-inventory-management-towards-the-success-of-an-organization-a-case-study-continental-machinery-u-ltd