1.1 INTRODUCTION:
The viability of an organization ca be enhanced through an effective and efficient management of material resources. Inventory control is a notable measure in managing material resources. Management of resources covers every action taken from the procurement of the resources to their disposal. Firms take certain measures towards preventing their stocks from being in shortage, pilferage and waste some of the measures are very effective while other are not.
In consideration of the scarcity raw materials, their exorbitant costs of procurement and management in the present prevailing economic condition, if is imperative for firms to do away with the rule of thumb’ approach of inventory control and adopt the scientific approach. It is on the basis of this that the need for this study lies.
TABLE OF CONTENTS
TITLE PAGE II
APPROVAL III
DEDICATION IV
ACKNOWLEDGEMENT V
TABLE OF CONTENTS VI
LIST OF ILLUSTRATIONS/TABLES
CHAPTER ONE:
1.1 INTRODUCTION 1
1.2 THE STATEMENT OF THE PROBLEM 1
1.3 THE NEED FOR THE STUDY 3
1.4 THE PURPOSE OF THE STUDY 5
1.5 RESEARCH HYPOTHESIS 5
1.6 THE SCOPE OF THE STUDY 6
1.7 RESEARCH METHODOLOGY 6
1.8 LIMITATION OF THE STUDY 7
1.9 ORGANIZATION OF THE STUDY 8
1.10 OPERATIONAL DEFINITION OF TERMS 9
CHAPTER TWO:
2.0 INVENTORY CONTROL AND INVENTORY VALUATION12
2.1 NATURE OF INVENTORY 12
2.2 INVENTORY CONTROL 16
2.3 ACQUISITION AND ISSUE OF MATERIALS 40
2.4 BASIC INVENTORY CONTROL SYSTEMS 43
2.5 FACTORS THAT AFFECT INVENTORY CONTROL
SYSTEMS 49
2.6 INVENTORY CONTROL METHODS 49
2.7 INVENTORY VALUATION SYSTEMS
2.8 INVENTORY VALUATION METHODS 53
2.9 FACTORS AFFECTING INVENTORY VALUATION DECISIONS 57
2.10 THE CONCEPT OF VIABILITY 60
CHAPTER THREE
3.1 SELECTION OF DATA 62
3.2 COLLECTION OF DATA 64
3.3 TOOLS OF DATA ANALYSIS 66
3.4 RELIABILITY OF DATA 67
CHAPTER FOUR: DATA PRESENTATION ANALYSIS
4.1 DATA PRESENTATION AND ANALYSIS 68
4.2 HYPOTHESIS TESTING 86
CHAPTER FIVE:
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 SUMMARY 100
5.2 CONCLUSION 101
5.3 RECOMMENDATION 102
BIBLIOGRAPHY 107
APPENDICES 109