PRODUCT PLANNING AND PRODUCTIVITY IN NIGERIA
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PRODUCT PLANNING AND PRODUCTIVITY IN NIGERIA
Chapter one
INTRODUCTION
1.1 Background of the Study
In recent times, corporate managers, economists, and laypeople have all taken an interest in the concept of product planning. To plan, invest, and act in accordance with certain specified objectives, constructing and managing aspects that regulate the achievement of a given target in order to achieve specific goals within the time limit that the planner sets for himself.
Product planning is critical in any dynamic system where things change over time. Products that were on the market for years have been phased away, while new ones are released on a regular basis.
Competition has played an important role in fostering product planning in our economy. Each company strives to improve its product offerings in order to gain a competitive advantage.
Product planning is the process of deciding which product line will provide the highest net realisation from the intended market. It is a “act of marketing out, supervision searching, screening development, and commercialization of new products productivity” that assesses the competitiveness and operationalization of managerial functions.
It should be emphasised that management determines the quality of products and services as well as productivity in any organisation. In practice, the four essential roles of management are inextricably linked.
The performance of one impacts the other, and as a result, if one of the managerial responsibilities is poorly or improperly executed, it will undoubtedly have an effect (negatively) on an organization’s management, which in turn affects its productivity.
Any strategy implemented to enhance productivity must be designed. This means that productive goals and objectives must be clearly defined, and future events, problems, and relationships should be anticipated.
The limits within which decisions are made and actions are conducted must be set, and this ensures that what to do, why or to what purpose, when to do it, how to do it, and where to do it are all examined before action is taken.
1.2 PROBLEM STATEMENT.
Despite the great possibilities for planning in our corporate organisation in terms of output, it nonetheless faces significant challenges. The goal of this study is to explore managers’ reluctance to plan, which results in infrequent planning and low productivity. Some militating considerations are as follows:
· Identifying barriers to management planning and assessing their impact on productivity. Second, identify the planning approaches used in order to determine which technique is most appropriate for Afprint Nigeria plc.
Afprint Nigeria faces challenges in producing high-quality textile items for the export market. Afpint Nigeria Plc’s manufacturing costs have increased dramatically as the value of the naira has depreciated and infrastructure has deteriorated.
Finally, evaluate the quality of the adopted plans and assess their advantages and disadvantages.
1.3 Research Objectives
The goal of this study is to focus on Afprint Nigeria plc and analyse the influence of product planning and productivity in the textile mill industry. This way, the following will be accomplished:
i. Determine the impact of product planning on productivity in the textile mill industry.
ii. Determine how planning might be used to boost the market acceptability of Afprint Nigeria Plc’s Anakara brand.
iii. Finally, determine how much product planning can increase the accuracy of productivity forecasts.
1.4 Significance of the Study
The purpose of this study is to investigate the relationship between planning and productivity, as well as the multiple benefits it provides to business organisations. It will also serve as an extra resource for management.
Afprint Nigeria plc has made a planning choice. This study also demonstrates that product planning and productivity are strategically significant.
1.5 RESEARCH QUESTIONS.
The research questions are:
1. Has research improved product planning and productivity in the textile industry?
2. Does product planning increase the accuracy of productivity?
1.6 Research Hypothesis
The response to the research questions is as follows:
Ho: Research has not improved product planning or productivity in the textile sector.
Hi: Research has improved product planning and productivity in the textile sector.
Ho: Product planning does not enhance accuracy in productivity.
Hi: Product planning improves the precision of productivity.
1.7 Research Method
This study methodology will involve primary data in the form of a questionnaire and direct observation. The questionnaire would be based on interviews and data obtained from Afprint Nigeria Plc’s senior and junior employees.
1.8 Scope and Limitations of the Study
This study will focus on Afprint Nigeria Plc from 1997 to 2006. In this study, the researcher chose Afprint Nigeria Plc. over other textile industries in Nigeria due to the quality of the product and its affordability.
The following limitations may hinder the progress of this study:
Due to the competitive nature of Nigeria’s textile mill sector, Afprint Nigeria Limited may be unwilling to provide all relevant data.
Also, for various reasons, not everyone who uses Afprint’s products may be willing to complete the questionnaire. This could impair the accuracy of the research.
1.9 Organisation of Study
This study will be divided into five chapters.
The first chapter will include an introduction, a summary of the problem, the study’s aims and objectives, the study’s importance, the research question, research hypotheses, research method, scope and limitations, study organisation, and term definitions.
Chapter two will be a general review of related material.
The third chapter will cover the introduction, restatement of research questions, restatement of research hypotheses, research design, research population, sample and sampling methodology, research instrument, and data collection method.
The fourth chapter will look at the profile of Afprint Nigeria Plc and analyse the data acquired through the questionnaire.
Finally, Chapter Five will include a summary, conclusion, and recommendation.
1.10 Definition of Terms
Product: This is a collection of utilities that includes a variety of product features and related services.
Planning is the examination of pertinent information from the present and history, as well as an assessment of the existing and future development, in order to select a plan of action that will allow the organisation to fulfil the specified objectives.
Productivity is a measure of how well an operation system works, indicating the efficiency and competitiveness of a specific firm or department.
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