Project Materials

STOCKTAKING AND STOCKCONTROL AS AN AVENUE TO ORGANIZATIONAL GROWTH

ABSTRACT

Accurate stocktaking and stock control are critical in every organisation. The researcher emphasised stocktaking for efficient stock control in an organisation. The project is organised into five chapters. The first chapter introduces the project’s various aspects. This includes a general explanation of the study’s difficulties and context, a problem statement, the objective of the study, research questions, limitations, and term definitions. Chapter two goes into greater detail on the reviews of all resources relating to the topic of stocktaking and stockcontrol as an avenue to organisational growth, the rationality of the research topic, and its relevance to the case study. Chapter three explains how the researcher uses the approach in his work. The research design, sample size, data collection and analysis methods, and research population. This chapter discusses presentation, interpretation, and data analysis in further detail. Chapter five includes a summary, conclusion, and suggestion for the research topic.

Chapter one

Introduction

commercial management has several branches, and no commercial enterprise can flourish unless all of these branches collaborate to function effectively and efficiently as they should. If a component of the human body is not operating properly, the entire body will feel discomfort.

This describes the relationship between the several functional departments of a corporate organisation. If one department is inefficient or does not work properly, it has a significant impact on the efficiency of others.

This is why it is critical for all parts of an organisation to be harmonised and galvanised so that they see themselves as one and work together to achieve a specific goal.

This is why materials management experts have confirmed that materials are the heart of any organisation, and just as no human being can survive without blood, neither can an organisation.

Therefore, a conscious effort must be made to acquire materials in a cost-effective manner. These materials must be used efficiently.

Stocktaking and stockcontrol are operations that try to ensure the availability of material in the appropriate quantity and quality. This prevents the organisation from experiencing a stock-out or capital tie-down as a result of excessive stock carrying.

And the way that can help in avoiding these two abnormal phenomena is considered as a good stocktaking and stock control procedures exercise in the organisation like the Nigeria Breweries.

1.1 Statement of the Problem

The increasing specialisation of industry in recent years has progressively increased the importance of this topic due to firms’ tendency to concentrate on the manufacturing of their own specialist line and to buy out an increasing proportion of materials either in a semi-processed condition or in the form of finished parts.

The growth of centralised industries, the expanding range of technical materials and equipment in Nigeria Breweries, and the need to keep up with an ever-increasing quantity of materials all highlight the need of proper stocktaking procedures.

1.2 Objectives of the Study

The primary goal of this research is to emphasise the need of using correct stocktaking and stock control methods.

It will also categorise the importance or benefits of an effective coding system deployment. This is demonstrated using the case study of Nigeria Breweries Plc.

1.3 Significance of the Study

This research is important since it aims to improve stocktaking and control techniques. It will also improve the procedures involved in stocktaking.

The research will also teach the reader a lot about stock discrepancies and how to enhance efficiency and profits with good stocktaking and stock control. It also promotes the utility of automating store functions such as stocktaking and inventory control in Nigeria Breweries Plc.