Impact of inventory management and control system on the performance of a manufacturing company in nigeria (a study of siba water company, ikot ekpene ikot ekpene, akwa ibom state)Impact of inventory management and control system on the performance of a manufacturing company in nigeria (a study of siba water company, ikot ekpene ikot ekpene, akwa ibom state)
Table Of Contents
Title page – – – – – – – – – i
Declaration – – – – – – – – – ii
Certification – – – – – – – – – iii
Dedication – – – – – – – – – iv
Acknowledgements – – – – – – – – v
Table of contents – – – – – – – vi
List of tables and Figures – – – – – – – ix
Abstract – – – – – – – – –
x
Chapter ONE
: INTRODUCTION
1.1 Background of the Study – – – – – – 1
1.2 Statement of Problem – – – – – – 5
1.3 Objectives of the Study – – – – – – 6
1.4 Research Questions – – – – – – – 7
1.5 Research Hypotheses – – – – – – 7
1.6 Significance of the Study – – – – – – 8
1.7 Scope of the study – – – – – – – 9
1.8 Limitations of the study – – – – – 9
1.9 Definition
of Terms – – – – – – 10
Chapter TWO
: REVIEW OF RELATED LITERATURE
2.0 Introduction – – – – – – – – 11
2.1 What is
Inventory? – – – – – – – 11
2.2 What are
the aims of inventory Management in Organization? – 16
2.3 Types of
Inventory Control System – – – – 17
2.3.1 The just –in
–time (JIT) approach – – – – 17
2.3.2 The fixed
order quality system – – – – 20
2.3.3 The cyclical
provisioning or the fixed order interval system – 22
2.3.4 The Material
Requirements planning (MRP) – – – 23
2.4 Importance of Inventory control in any manufacturing company 24
2.5 Kinds of costs associated with inventory – – – 25
2.6 Stock checking and stock taking – – – – – 29
2.6.1 Purpose of stocktaking – – – – – 30
2.7 Objectives of inventory control – – – – – 35
2.8 Requirement for effective inventory
management – – 36
2.9 Methods of controlling issue of stock – – – – 40
2.10 Problems associated with control system – – – 41
2.11 The main objectives of stores control system – – – 52
Chapter THREE
: RESEARCH
METHODOLOGY
3.0 Introduction – – – – – – – – 59
3.1 Research Design – – – – – – 59
3.2 Area of the Study – – – – – – 59
3.3 Sample and sampling techniques – – – – – 59
3.4 Population of the study – – – – – 60
3.5 Method of Data Analysis – – – – – 71
3.6 Procedure for Data Collection – – – – – 71
CHAPTER
FOUR: PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA
4.0 Introduction – – – – – – – – 63
4.1 Presentation
of Data – – – – – 63
4.2 Data
Analysis – – – – – – – – 64
4.3 Testing of
Hypothesis – – – – – 66
4.4 Discussion and summary of findings – – – 70
Chapter FIVE
: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.0 Introduction – – – – – – – – 71
5.1 Summary – – – – – – – 71
5.2 Conclusion – – – – – – – – 72
5.3 Recommendations – – – – – – – 73
REFERENCES
Appendix
Questionnaire
LIST OF TABLES
Table 2.1 – – – – – – – – – 55
Table 2.2 – – – – – – – – – 56
Table 2.3 – – – – – – – – – 56
Table 2.4 – – – – – – – – – 57
Table 2.5 – – – – – – – – – 57
Table 2.6 – – – – – – – – – 58
Table 3.1 – – – – – – – – – 61
Table 4.1 – – – – – – – – – 63
Table 4.2 – – – – – – – – – 64
Table 4.3 – – – – – – – – – 64
Table 4.4 – – – – – – – – – 65
Table 4.5 – – – – – – – – – 65
Table 4.6 – – – – – – – – – 66
Table 4.7 – – – – – – – – – 67
Table 4.8 – – – – – – – – – 68
Table 4.8 – – – – – – – – – 69
ABSTRACT
The
growing concern fo
Thesis Abstract
AbstractInventory management and control are crucial aspects of operations in manufacturing companies, directly impacting their overall performance and profitability. This study aims to investigate the impact of inventory management and control systems on the performance of a manufacturing company in Nigeria, focusing on Siba Water Company located in Ikot Ekpene, Akwa Ibom State. The research will employ a mixed-methods approach, combining both quantitative and qualitative data collection techniques to gather comprehensive insights into the inventory management practices at Siba Water Company. Quantitative data will be collected through surveys and analysis of financial records to quantify the company's inventory turnover rates, carrying costs, stock-out rates, and other key performance indicators. Qualitative data will be gathered through interviews and observations to understand the company's inventory control systems, challenges faced, and strategies employed. The study hypothesizes that effective inventory management and control systems positively influence the performance of manufacturing companies by reducing costs, minimizing stock-outs, improving customer satisfaction, and enhancing overall operational efficiency. Conversely, poor inventory management practices can lead to increased carrying costs, wastage, stock-outs, and ultimately impact the company's profitability and competitiveness in the market. The findings of this research will provide valuable insights for Siba Water Company and other manufacturing firms in Nigeria, offering practical recommendations to enhance their inventory management practices and drive better performance. By optimizing inventory control systems, companies can streamline their operations, reduce costs, and improve customer service, ultimately leading to increased profitability and sustainability in the competitive manufacturing industry. This study contributes to the existing body of knowledge on inventory management in the context of manufacturing companies in Nigeria, shedding light on the significance of efficient inventory control systems for business success. The research findings will not only benefit Siba Water Company but also serve as a benchmark for other manufacturing firms looking to enhance their inventory management practices and achieve better performance outcomes in the Nigerian market.
Thesis Overview
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