- The Complete Research Material is averagely 70 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦6,000
Get the complete project »
CHAPTER ONE
INTRODUCTION
1.0 HISTORICAL BACKGROUND OF THE STUDY
For many years now a lot of manufacturing company does not know the important of stock methods and even when they know, it is not consciously handle or put in the care of professional. Infact, they belief that the stock control methods is not the ultimate things the organization desire this means the contribution on effective stock control can make to the success of an organization still not very widely appreciated and hence it is of great significant to reflect the impact and effective and efficient stock control would have on an organization as well as the profitability level of the company.
The fundamental point about stock control is that by the very nature of it’s operation, every items of the store receives individual attention. The stock is the key element of working capital which has the power to influence the future of the company either positively or negatively and the effect is said to prevail over the other when it is not highly controlled. Where an organization materials are not systematically controlled, it can result to unnecessary trying up capital in stock and losses through breakage, pilferage, deterioration, theft, obsolesce etc. Beside, any organization which of stock out control stock is always faced with the problem of stock out in which may cause hold up in production service and sales, the staff become idle mean while salaries still have to be paid. Effective and efficient stock control will go along way in preventing loses and waste as such increase the point level of the organization.
Infact a slide percentages increase in efficiency a stock control will amplifies the profitability level. Since stock is often regarded as a life wire or life given element of an organization, the control of stock therefore is highly significant and should start right from the time the need is identified to purchase order expediting. Receipt and inspecting storage and issue so that services will be rendered in the most effective manner and at the lower possible cost. The achievement of the potential benefits that are there in an efficient stock control system will only be possible if any one when store personal are well trained in their profession make available necessary material handling equipment and above all ensure an effective secure o the stock card, store house, store personnel as well as the keys to every entrance.
In September, 1969 the federal military government decided to merge the (ECN) Electricity Corporation of Nigeria and (NDA) Nigeria Dams Authority into a single body to avoid duplication for resources in the two organizations.
A year later, a Canadian firm of consultants (Shansimont Ltd) was appointed to look into the technical detail of the merger. The report was submitted in 1974.consequently a decree merging the two organizations in the National Electric power authority (NEPA) is to develop in efficient, coordinated and economical system of electricity for all parts of the federation.
The national grib connected the facilities resulting from the merger, the grib interconnection includes generating at Kainji, Lagos (Ijora) Ughali (Delta) Afarm and Oji River.
In addition there were diesel generator installation at Ibadan, Benin,Warri, Aba, Enugu, Zaria, Kaduna, Owerri, Abeokuta and Oshogbo further, diesel generation supplied system in population centers isolated from the grib include Gusau, Sokoto, Bauchi, Yola, Maidugari, Potiskum and Mubi. The grib was fact two major sub-system since the connection between the western system and Onitsa and was yet to be effected, a 330Kva transmission was in operation in the western system between Kainji and Lagos.
March 2005, witnessed major milestone in the electricity power sector reform process with the signing into law of the (EPSR) act in March, 2005 and the mergence of Power Holding Company of Nigeria Plc in place of National Electric Power Authority as well as the subsequent Electricity Regulatory Commission (NERC) on 31st October, 2005. The visible results of the ongoing transformation of the company include staff re-orientation anchored on customer service delivery. The new focus in the unbundled units has resulted in improved revenue collection and customer services delivery with a land mark collection of seven billion Naira (N7,000,000,000) in October 2005.
In the last three months we have consistently on a daily basis achieved pack generation of over 3000- mw to the national grid we are optimistic that with this improvement in generation availability and the federal government commitment to built it new power station that will add 6000 Mw new capacity there quest to meet the 10,00 Mw target by 2010 was not reality. The National Electric Power Authority central Kaduna was established in 1976 now Power Holding Company of Nigeria (PHCN) made up of the following.
1. Administration
2. receipt and packaging
3. issue and storage
4. Account
5. stock control
At inception, there were about twenty (20) staff but since then, there has been an increased manpower section namely inspection and audit section the principal objective of establishing a central issue to fifteen (15) states at the Northern state.
Since national electric power authority has three central store which the country made up of central store Oshodi, Issuing material to western states of the country and central store port-Harcourt for eastern states of the country.
Organizational structure
1.1 STATEMENT OF GENERAL PROBLEM
Every organization is it big or small keeps stock to order to provide necessary basic raw materials for daily operation and also to provide a reservoir for absorbing the effect of variation in delivering and consumption also to maintain ready availability of supplies within the organization which may be required at short notice. But most organization does not consider the necessity of some basis consideration for keeping such items.
When good are held in stock there is great deal of administrative work involved i.e. control of receipt issues and the general custody of all the stock items in order to prevent theft and pilferage and sometimes equipment for loading and off loading such materials have to be bought all these costs must be taken into consideration. Otherwise the organization may end up tiring down it’s working capital when could be invested elsewhere and generate more profits for the organization concern.
In PHCN control store Kaduna the store is responsible for providing the standard material such as transformers, underground cable copper wires, fuses etc to the sixteen Northern states PHCN districts.
Sometimes one has to consider the genial problems associated with unreliable deliveries of stock by supplier it is impossible to rely8 total on supplies to deliver every order on schedules this is obvious for the fact that supplier may be held up by weather transport delay etc.
Stock in the store represent solid cash and as such, it must be carefully protected and checked to similar ways as cash. Must be protected against fraud, theft and also high storage costs because stock have to be stored in certain conditions depending on the items involved e.g. warm, dry and cool these must be taken into account in order to prevent trust or evaporation deterioration which can lead to reduction in value of the materials concerned. While there is no standard system. In stock control which can be universally recommend every stock control system must be designed to meet the particular needs of the organization concerned.
In Nigeria and indeed in many of the developing countries of the world, co-operative have not been accorded a complete management function. Clerk have carried out stock control as on element of this noble profession in a routine manager and business are facing a continuity of sequence of profits, it is on this note that topic for this project work, has been chosen to critically examine stock control to PHCN Kaduna central store.
Many people have the believe even among the elite that store managers or controlled only stay in the store, without any contribution to the overall company’s objective the function of stock control include receiving, inspection and proper storage of equipment, issue material to user department at the right time and place notifying the procurement department of stock mentioned function are properly co-ordinated and carried out the cost involved in operating the store will be surpassed. Stock control or management made use of techniques. Modern methods and equipment to increase the efficiency and reduce most of the cost associated with material storage cost involved in running a store numerous some of them are; operation expenses of store house, wages, depreciation, rates, repairs, insurance stock checking, recording and interest in value of stores in stock etc the need to reduce these cost bearest minimum to achieve store objective by contributing to company profit makes it worthwhile for the reach work to be embarked upon.
1.2 RESEARCH QUESTION
Those question opposed by the researcher are made to help the organization in other to find solution to the problems.
- Are stock control importance to the profitability of organization?
- To what extent can stock control reduce cost in an organization?
- Who control the stock?
OBJECTIVES OF THE STUDY
1. A good and effective store keeping to minimize wastages deterioration, obsolescence and guard against pilferage.
2. proper authorization and recording of stock issue for cost centre absorption
3. Constant checking by its store keeper of all documents and ensure correct completion and authorization before issuing, receiving or up dating stores.
4. Carryout periodic and annual taking to check all physical quantities of materials for control proposes.
5. Carryout continuous/perpetual inventory system more regularly on daily, weekly or monthly to correct the discrepancies of periodic stock taking.
6. Material in store should be correctly positioned with the appropriates store card properly maintained.
1.5 RATIONALE FOR THE STUDY
The rationale behind the research work includes first fulfilling one of the requirement for the work of National Diploma in Department of cooperative, economic and management, the study will make the researcher to have an insight into the practice aspect of stock control or management in a public utility agency such as PHCN central Kaduna research is usually made to identify problems and come up with solution to problem on the area of study or prove upon what has been in essence. This project therefore, is to carryout assessment on stock control system with it’s application and the necessary solution to such problems.
The researcher also can provide valuable suggestion and advice on problems facing the store department. This will help the organization to obtain the benefit of adoption of recommend stock control method and technique to improve service and profit level of the organization.
1.4 DEFINITION OF TERMS
1. Stock: materials or good kept in the store
2. Control: Checking to see that accurate quantity and quality is maintained.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
-
SIMILAR BUSINESS MANAGEMENT FINAL YEAR PROJECT RESEARCH TOPICS
-
1. IMPACT OF NEGOTIATION IN ATTAINING PURCHASING OBJECTIVES
» Abstract In this project, an attempt has been made to know the impact of negotiation in attaining purchasing practice. This research exposed the impor...Continue Reading »Item Type & Format: Project Material - Ms Word | 59 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
2. IMPACT OF REWARDS SYSTEM ON EMPLOYEES’ PERFORMANCE
» CHAPTER ONE: GENERAL INTRODUCTION 1.1 BACKGROUND OF STUDY Employee motivation is one of the most essential parts in a company’s development and ...Continue Reading »Item Type & Format: Project Material - Ms Word | 49 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
3. IMPACT OF PRODUCTION PLANNING AND CONTROL ON OPERATIONAL COST IN MANUFACTURING INDUSTRY
» CHAPTER ONE INTRODUCTION 1.1 Background of the study Production planning and control is simply the analysis involved in transforming raw material or c...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
4. An Examination of Bank Employees' Job Satisfaction after a Merger and Acquisition
» CHAPTER 1: INTRODUCTIONMergers and acquisitions (M&As) have become a key part of manycorporate growth strategies, with diversification being the p...Continue Reading »Item Type & Format: Project Material - Ms Word | 170 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
5. ASSESSMENT OF MERGERS AND ACQUISITIONS AS A SURVIVAL TOOL FOR ORGANIZATION IN NIGERIA
» ABSTRACT Merger and acquisition has been widely acclaimed by scholars and professionals in business as the most desirable and effective strategy to re...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
6. ENTREPRENEURSHIP AND ECONOMIC GROWTH IN AKWA IBOM STATE; A CASE STUDY OF UYO LOCAL GOVERNMENT AREA.
» ABSTRACT Inspite of the small and medium scale emprises contribution: to national economy growth. Nigeria as well as Akwa Ibom is still clouded with s...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
7. THE EFFECT OF HOSPITALITY AND TOURISM INDUSTRY ON EMPLOYMENT RATE
» CHAPTER ONE 1.0 INTRODUCTION Hotel industry is one of the largest industries in the tourism sector which has played a vital role in the hospitality in...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
8. THE IMPACT OF PRODUCTION STRATEGIES ON PROFITABILITY OF AN ORGANISATION
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The two primary objectives of every business are profitability and solvency. Profitability is the...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
9. IMPACT OF ELECTRICITY ON PERFORMANCE OF SMES IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Access to electricity and its accompanied high tariffs poses a greater challenge to SMEs growth a...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT
-
10. WORK-LIFE BALANCE AND EMPLOYEE COMMITMENT
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Work life balance describes the relationship between your work and the commitments in the rest of...Continue Reading »Item Type & Format: Project Material - Ms Word | 50 pages | Instant Download | Chapter 1-5 | BUSINESS MANAGEMENT DEPARTMENT