Thesis Abstract

ABSTRACT This study aims to investigate the impact of good management on productivity in manufacturing firms, using General Cotton Mill in Onitsha, Anambra State as a case study. The manufacturing sector plays a crucial role in the economic development of any nation, and effective management practices are essential for enhancing productivity within these organizations. The research will focus on exploring how various management practices influence productivity levels within the General Cotton Mill. The study will employ a mixed-methods approach, incorporating both qualitative and quantitative data collection techniques. Primary data will be gathered through structured interviews with key management personnel, employees, and other stakeholders within the organization. Additionally, surveys will be conducted to gather quantitative data on productivity levels before and after the implementation of good management practices. The theoretical framework for this study will be based on classical management theories, including scientific management, administrative management, and behavioral management theories. These theoretical perspectives will provide a foundation for understanding how management practices can impact productivity within a manufacturing firm. The findings from this research are expected to contribute to the existing body of knowledge on the relationship between good management and productivity in manufacturing firms. By examining the specific case of General Cotton Mill in Onitsha, the study will provide valuable insights into the practical implications of implementing effective management practices within a manufacturing setting. The results of this study are anticipated to have implications for both academia and industry. Academically, the research will contribute to the theoretical understanding of management practices and their impact on productivity. From a practical standpoint, the findings will offer valuable guidance to managers and decision-makers within manufacturing firms on how to enhance productivity through effective management strategies. Overall, this research seeks to shed light on the importance of good management practices in driving productivity within manufacturing firms, with a specific focus on General Cotton Mill in Onitsha, Anambra State. By examining the relationship between management and productivity, this study aims to provide actionable insights that can help organizations improve their operational efficiency and overall performance.

Thesis Overview

       BACKGROUND OF THE STUDY

      The aim of this research work is to show how an efficient and good stock management in a manufacturing organization can affect the levels of efficiency on productivity of the firm.

        Stocks account forms a substantial part of a company’s assets. It must be appreciated that stocks include raw materials components, partly finished good (work in progress) and finished goods ready for sale. Too much stock will unnecessarily tie down the resource of a company while too little stock will result in stock outs with its attendant problem eg. unsatisfied demand and costly arrangements to replenish stock etc. it is therefore necessary to have a middle of a road quantity of stocks at any given time.

Stock management function in the capacity of service and control groups within the firm. In other words it is service oriented from managerial viewpoint, stock exist for three reasons.

First, they provide a service to the production operation, it is difficult for a production organization to operate efficiently unless someone is specifically designated to organize and control the physical slow of materials into production.

Secondly, the stock organization acts as a custodial and controlling agency.   It is responsible for the physical welfare and control of a substantial portion of a trans – current assets.

Thirdly, the existence of stock permit quantity buying and its attendant cost saving in price, proper work and handily the stock management in many business organization are often neglected and it is not realized that materials represent and equivalent amount of cash material most manufacturing firm on realizing the importance of stock try to achieve effective control of stocks by guess work thereby creating half baked stock management.

 1.2             STATEMENT OF THE PROBLEM

Sales and purchase are the basic trading activities that give rise to profits and productivity stock movement is an indicator of the level of business activity in a firm. This is because stock reflects the sale and purchase activities of the firm therefore stocks are connected not only with production but ultimately with productivity.

        Over sixty percent of firms cost of production or capital is reprinted by stock (material) material pilferage, deterioration of material and careless handling of stocks lead to reduced profit or even losses. Inefficiency stock management or control leads to great supply of stock which results in high storage of valuable space, stock losses and obsolesce, while a short supply result reduced output and possibly in panic buying or even tock outs.

In studying or investigating these problems the following question need to be answered.

1. Does efficient stocks management increase efficiency and productivity?
2. Does poor staffing affect efficient stock management?
3. Does stock – outs lead to loss of customers good will and reduced          

Profit?

1. Does stock location and layout bring about efficient stock

Management?

1. Can training enhance efficient stock management?

 1.3             PURPOSE/ AIM OF THE STUDY

          Materials are one of the firm current assets which take about sixty percent of the firms capital yet the management of these materials has been neglected over the years. It is the main purpose of this study to a find out how efficient stock management could increase the efficiency and productivity.

a)     Investigate the influence of poor staffing on efficient stocks control.

b)     Determine how inefficient stock control could lead to stock- out and how stock out could lead to losses of customer’s goodwill and reduced profit.

c)     To find out how stock location and layouts could bring about efficient stock management.

d)     To find out how training could enhance efficient stock management.

 1.4             SIGNIFICANCE OF THE STUDY

This research is considered important because of the important role stock management is expected to play in a business concern.

        Business organization cannot function without good stock management.   It needs this management to management its materials resources.

        This research is primary for students preparing for career in business. It’s used is not limited to students with career interest in the stock keeping. It will be extremely useful to student’s career interest in functional area of business.

        It is equally for manage of stock who would wish to achieve this optimum performance in business, the managers need to understand the general concepts and problems in stock management.

        This study will help researcher to carryout further research in this area, as it is necessary for reading on this topic to be carried out n the Nigeria universities.

        1.5             LIMITATION OF THE STUDY

This research is limited to stocks management in general cotton mill Onitsha. It covers only raw materials, work in progress and finished goods management in this organization.

The study is only exploratory and descriptive.

No detailed interpretation and explanation is intended this means that the research approach have a case study method approach.

1.6             DEFINITION OF TERMS

Purchase Requition Note

v at is a document raised by the replenish the stock of materials.

 Purchase order

v Ones the purchase requisition comes to the purchasing department, the buyer will contact suppliers and ensure that the order is for materials with the correct description delivery address and delivery data and the best possible price.

 Goods Received Note.

v This entail that deliveries of materials to business should be inspected against the order, to ensure that the quantity and quality are correct.

Supplier’s Invoice

v This is a document which shows the particular of goods supplied.

 Scrap

v This is any material, raw or manufactured, which is useless for it’s original purpose but many still have some recovery value.

 1.7 REFERENCE

Nzelibe C. G.O. (1995) Business Statistics Theory

and application, Enugu Optimal Publisher.

 Nwachukwu C.C. (1998) management Theory and

Practice; Onitsha African FEP Publisher.

 William J. (1994) Economic Prinicples and policy,

New York; U.S.A. The Garden press Publisher.

 Gordom S.D. and Danisen G.G. (1990) Introductory

economics; Heineman education Book Publisher.