Project Materials

ASSESSMENT OF THE NEED FOR EFFECTIVE STORES RECORDS IN THE PUBLIC SECTOR STORES

ABSTRACT

Stock, like people, is a vital part of any organisation. As a result, an effective and efficient store record system is required for proper stock management and administration inside the organisation. In the face of a poor private-sector-driven economy, the government has decided to provide for the majority of the amenities, infrastructure, and development required to maintain economic growth. As a result, the government has become involved in business even when it has no business to do. A competent businessman requires transparency and accountability in the management of government transactions, including stocks and stores. In essence, this research will examine and appraise the need for functional store records in the public sector, with Owerri Municipal Council serving as a case study. The research will look further at the varied purchasing policies in the public sector. Different types of store records and their purposes will be evaluated.

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

As personnel are regarded as the lifeblood of an organisation, stock records are equally crucial for the proper operation of any organisation, whether public or private.

Effective stock systems are necessary for the achievement of organisational goals and objectives. Stock records are types of clerical records designed to offer real-time information on all pieces of stock stored inside the store organisation, whether public or private.

The breadth of this information will vary depending on the technology used and the organization’s operations. However, there are some essential functions that a stock record system should be able to cover in any organisation, particularly in the public sector.

The public services, often known as the public sector, exist to ensure the smooth operation of states and their affairs by carrying out, implementing, and translating government initiatives, policies, and programmes into action. When policies are developed, adopted through legislative processes, and incorporated into law, corresponding programs are put in place to ensure that these policies are fully implemented.

In most circumstances, existing institutions are employed to implement these policies’ programmes, whilst in others, new agencies/institutions are established to do so.

The outcomes of these policies are typically achieved by the implementation of projects that are extremely beneficial to the welfare of the general public or a segment of society.

Essentially, project execution entails the efficient management and administration of both people and material resources in order to achieve predetermined goals. This indicates that materials and other stock are used in the public sector to carry out the business of the government.

As a result, the primary goal of this research is to investigate the need for effective record keeping in public services, particularly in the Owerri Municipal Council. Owerri Municipal Council was established on December 5, 1996, as part of a local government review led by Chief Arthur Mbanefo during the Abacha administration.

The council is made up of the following villages/areas: Umuororonjo, Amawom Umuonyeche, Umuodu, and Ummonyima, also known as Owerri Nchi-ise.

Owerri municipality serves as the Eastern region’s regional headquarters, with the federal government putting the majority of its zonal offices there.

The private sector followed following due to its advantageous placement in the heart of Imo State. Owerri Municipal Council covers an area of approximately 24.88 km square.

Recognising the importance of the store record function in public sector store management, Nigeria’s federal government has reviewed and updated store records to ensure effective administration and control of scarce resources.

The regulations are intended to ensure that effective store procedures and strategies are implemented, as well as procurement and store procedures (how to handle materials and stock in government stores).

This regulation is included in the federal government’s financial regulations. Owerri Municipal Council has established numerous methods to guarantee that effective shop practices are streamlined and that adequate store records are in place within the council.