1.1 INTRODUCTION
BACKGROUND OF THE STUDY
It is difficult to exaggerate the contribution of production to the society wellbeing. Why this is so, is suggested by Alexander Solzcheritzyn in his novel captioned August, 1914. One of the Chief character in that work Suyatosalar lakinfovich Obodovsy a former anarchist, who maintained the following position. As for industry, anyone who has created something with his own hands know that production is neither capitalist nor socialist but one thing only. It is what creates national wealth, the common material basis without which no country can exist. When enough has been built and made. Then even if distribution is less than perfect, no one will be left without this share. With reference you goods, production could be defined as the fabrication of a physical objects, solid or liquid, through the use of labour, material and equipment, adequate and proper utilization of labour materials and equipment will have to be made in order to enhance greater efficiency, since production is very important to any economy whatsoever.
The viability of an organisation can be enhanced through effective and efficient management of material resources. Inventory management control system exists to ensure that proper and adequate utilization of materials are made and that the optimum level of material investment are determined and maintained. This is a notable measure managing material resources. Management of resources covers action taken from the procurement of the resources to their disposal firms the certain measures towards preventing their stock from being in shortage. Pilferage and waste of some of the resources are very effective while others are not.
Bindey, I.M. in his book: "Management defined management as an art and science of achieving the set objective of a business in the most efficient way. Management can be defined as the process of reading organisational goals by working and through people and other organisational resources.
TABLE OF CONTENT
Title Page II
Approval Page III
Dedication IV
Acknowledgement V
Table of Contents VI
CHAPTER ONE
1.1 Introduction/Background of the Study 1
1.2 Statement of problems 3
1.3 Objective of the study 5
1.4 Significant of the study 5
1.5 Scope, Limitation and delimitation of the study 7
1.6 Definition of basic terms and concepts 9
CHAPTER TWO
2.0 Literature Review 13
2.1 Nature of Inventory 15
2.2 Inventory Control and Management 15
2.3 Objectives of Inventory Control 18
2.4 Importance of Inventory Management 19
2.5 Objectives of Inventory Management 20
2.6 Critical Evaluation of Inventory Problems 22
CHAPTER THREE
3.1 Summary of Findings 26
3.2 Recommendation 33
3.3 Conclusion 37
3.4 Bibliography 39
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(2014, 11). The Inventory Management And Control Procedure In Manufacturing Outfits.. ProjectStoc.com. Retrieved 11, 2014, from https://projectstoc.com/read/5095/the-inventory-management-and-control-procedure-in-manufacturing-outfits-7770
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