Project Materials

NEED FOR EFFECTIVE STORES SECURITY IN AN ORGANIZATION

ABSTRACT

This project consists of five chapters, each containing distinct information on the project. The requirement for good store security in an organisation. The importance of store security was investigated with the goal of increasing profitability in the organisational industries. To conduct the research, a sample of one hundred (100) industrial purchasers was taken from the Iko Ekpene/Aba express road in Ikot Ekpene, Akwa Ibom State. To collect data, personal interviews and two sets of questionnaires were used, one for industrial users and the other for staff. In the analysis of the results, percentage was used, whilst the chi-square technique was used in testing at the 5% level of significance. The following were tested. The demand for effective store security benefits the sector. Aside from its traditional duty of protection, the role of store security plans has a significant impact on product promotion. Furthermore, the first chapter of this project provides an introduction, while the second chapter contains a literature review that covers everything about the project and research. Chapter three discusses research technique and all of the data processing needed. Chapter four covers the presentation analysis and interpretation of the study effort, and chapter five discusses the summary, conclusion, implications, and suggestions.

Chapter one

Introduction

1.1 Background of the Study

Security has been considered as one of the most critical operations carried out in any organisation. This is because material is the lifeblood of any enterprise. Materials are money and have been purchased to meet specific needs.

In order to avoid unnecessary cash loss resulting from material loss due to ineffective security, which affects the organization’s profit margin, these materials must be used for the purposes for which they were purchased. With this evolution, every organisation has recognised the necessity to invest in security. This is for any profit-driven organisation.

Security is one of the most critical aspects of store management. Store security in a wide sense includes not only theft and fraud, but also stock deterioration, damage, location, and particular storage requirements. Organisations may choose to use the services of a professional security company that provides a trained team of security guards and other workers to protect against theft.

Alternatively, the organisation may delegate responsibility for store security to an individual, stockkeeper, or manager for each specific stock charge. As a result, most organisations rely solely on them to ensure store security.

Store security and safety are essential areas of concern in store management due to the necessity to protect the company’s significant investment in inventory. BAll goods must be valuable to a company; otherwise, they should not be in stock.

As stated by Morrison (1967:9), “If stock is to be adequately safe-guarded, it must be properly located in secure buildings or stock yards to which unauthorised persons are not allowed to access arrangements must be made for the custody of store house keys and security precautions exercised during non-working hours to ensure maximum security” .

According to Data (1986:17), “materials must be properly safeguarded and kept under proper security and vigilance”. However, he advised that the effort, time, and money spent should be proportionate and relative to the importance of the materials, and that the expense of security must be balanced with the benefits that may result from robust security measures.

According to Carter and Price (1993:101), store security plays a significant role in reflecting both the value of stock and its operational role within the organisation. They went on to say that if stock is lost and not recorded, the stock record loses its usefulness as a tool for stock control.

The calculated level of stock represented by the stock card will not correspond to the actual stockhold. Production operations will be severely hampered if the store’s security purpose is to keep stock, making efficient stock control critical.

According to Morrison (1987:9), stock control entails operations aimed at effectively managing and controlling all inventory items maintained in stock.

Stock represents a significant portion of an organization’s working capital or money; consequently, any stock lost due to theft, fraud, or damage must be replaced, increasing the organization’s costs and decreasing its earnings.

The amount of stock cost per year is impossible to measure, therefore the sum must be in the billions of naira, to which must be added the loss of earnings and income caused by production delays and lost contracts. Good store security will thus result in a definite financial gain for the organisation.

In carrying out this research, an attempt is being made to identify the facts that effectively impede store security at UNAMA PAPER MILL NIGERIA LIMITED IKOT EPKENE, AKWA IBO STATE.

The essence is to align the actions of this organization’s store departments with the contemporary system of store security, with the goal of providing effective services to the user department and so accomplishing the organisational objectives.

Unama Nigeria Limited was established in October 1982 as a private limited liability business. The company is located near Ikot-Osurua, Iko-Ekpene, Aba motorway.

The corporation is held by a number of indigenous stockholders, including former east central states Anambra, Imo, Abia, Enugu, and Ebonyi. It is a distinctive joint stock business.

Seven men serve on the board of directors. The company is divided into six departments: administration, finance, stores, production, maintenance, and internal audit.

The company is an appropriate conversion company. It prints toilet roll wrappers, waxes, sheets paper, and manufactures Unama toilet paper.