THE EFFECTIVENESS OF INVENTORY MANAGEMENT IN NASCO FOOD PLC JOS

ABSTRACT

The variety of inventory situations in today’s organization is enormous.  They vary not only in the number and nature of materials held but also in the underlying purpose of the inventories and the degree of uncertainty of demand and supply of materials.

Therefore all types of business establishments, whether manufacturing, wholesaling, retailing or service oriented industries have some types of inventories to maintain a control.

I intend to bring out in this work the problem and benefits achieved from maintaining adequate inventories by manufacturing companies.

The growth of any production company depends entirely on the ability of the management of the company to maintain and control materials used for production and finished goods.

The role of curtailing excess or inadequate inventories (i.e. not in best interest of the company can be achieved by the formulation and implementation of effective inventory management policies.

TABLE OF CONTENTS

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of contents

CHAPTER ONE

1.1            Background of study

1.2            Introduction

1.3            Purpose of study

1.4            State of study

1.5            Significance of study

1.6            Scope and limitations

1.7            Limitations of the study

1.8            Definition of terms

CHAPTER TWO

2.1            Review of related literature

2.2            Kinds of inventories

2.3            Reasons for holding inventories

2.4            Objective of having an effective inventory management

2.5            Inventory control method

2.6            Procedure for receipt and issue of inventory goods

CHAPTER THREE

3.1            Source of data

3.2            Interview

3.3            Description of instrument

3.4            Population for study

3.5            Method of questionnaire distribution

CHATPER FOUR

4.1            Presentation and analysis of data

4.2            Responds received

4.3            Questionnaire not received

CHATPER FIVE

5.1            Summary of findings

5.2            Conclusion

5.3            Recommendations

References

CHAPTER ONE

1.1            INTRODUCTION

The purpose of inventories are important to consider because inventories represent an investment like any other asset in firms.  Controllers or materials manager monitor inventory levels in operations and argue for holding fewer materials in inventory and the purpose of inventory management and control is to ensure that the company does not allow excessive or insufficient levels of production materials to remain in the company in other to highlight the important of management of inventories in manufacturing company this work focused its study on NASCO Plc.

It is a true fact that most production companies have failed due to poor inventory management and control.  I want to review some literature on this topic with a view to studying their techniques of inventory management.

And it is profitable that it management could apply all the principles and techniques highlighted in this work, the problem of failure resulting from inefficient management of inventories in production companies may likely be a thing of the past.

1.2            BACKGROUND OF STUDY

NASCO which began operation in Nigerian 1963 with the NORTHERN NIGERIA FIBRE PRODUCT LIMITED has today grown into a formidable array of companies namely: NASCO fibre products, poly fibre, NASCO household, NASCO beauty and body care, NASCO foods, NASCO rice and cereal processing, NASCO pack, NASCO confectionary, NASCO marketing, Nastrade, NASCO carpets, NASCO management services and NASCO building and civil engineering.