The Importance of Stocktaking in a Manufacturing Organization

The Importance of Stocktaking in a Manufacturing Organization

Project / Seminar Material
Reference ID: PS-2547-TM

DEDICATION

This research material titled “The Importance of Stocktaking in a Manufacturing Organization” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Purchasing and Supply (PS), Book Authors and Profound Scholars of existing or related project material on “The Importance of Stocktaking in a Manufacturing Organization” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

The Importance of Stocktaking in a Manufacturing Organization

TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

  • 1.0 Introduction
  • 1.1 Background of the Study
  • 1.2 Objectives of Study
  • 1.3 Statement of Problem
  • 1.4 Significance of the Study
  • 1.5 Scope the Study
  • 1.6 Limitation of the Study
  • 1.7 Definitions of Terms

CHAPTER TWO

  • 2.1 Literature Review
  • 2.2 Definition
  • 2.3 Identification coding of stock
  • 2.4 Reasons for carrying out stocktaking
  • 2.5 Stocktaking Documents
  • 2.6 The Importance of Stocking

CHAPTER THREE

  • 3.1 Discussion of the Major Findings from the conceptual Literature
  • 3.1 The Factors that affects the level of stocktaking
  • 3.2 The effects of inefficient stocktaking
  • 3.3 The Importance of Stocktaking

CHAPTER FOUR

  • 4.0 Summary, Recommendation and Conclusion
  • 4.1 Summary
  • 4.2 Conclusion
  • 4.3 Recommendations

REFERENCES

ABSTRACT

This research study work took place between the months of September and October 2011, which was required for the National Diploma ND Certificate Award.

The study is aimed at investigating the Importance of Stocktaking in an Manufacturing Organization stocktaking has got many definitions, as stocktaking is defined as a check of stock of material and component in store with the view of checking the balances as shown on the stock records with physical stocks in the rack and with the books of account by valuation.

The Importance of Stocktaking in a Manufacturing Organization

CHAPTER ONE

1.0 Introduction

1.1 Background of the Study

In all manufacturing organization there must be decision making concerning the Importance of Stocktaking in an organization.

Stocktaking has to do with valuable and expensive man-hour and financing resources to arranger, also a great deal of management time is needed to investigate all the necessary but of stock discrepancies, consumers are always willing to pay a high price, that is, obtain value their money for whatever they consider as the right quality, so manufactures who like all their customers should endeavor that stocktaking is properly taking care of in order for effective manufacturing to take place in an organization, which will in-turn provide quality product of goods and services in the organization and also to satisfy the needs and wants of the customers.

1.2 Objectives of the Study

The major objectives of this study is to become and effective and efficient purchasing officer and also to fulfill any condition which is necessary for the award of National Diploma (ND) in Purchasing and Supply Management, Secondly, to minimize the possibility of delays in production which are a times caused by stock discrepancies the objective of the study on stocktaking also helps in purchasing officials to know the procedures and timing of stocks.

1.3 Statement of the Problem

Most companies often suffer because of some problem, which they encounter in purchasing materials, and these problems include:

  1. Most firms in manufacturing companies do not maximize profit which comes in as a result of fraudulent practices and occurrences of errors among stock takers
  2. Also a good number of manufacturing firms do not take stock regularly, this irregularities of stocktaking gives chances to dubious and dishonest workers the opportunity to defraud the company

1.4 Significant of the Study

This study is significant because years ago, some manufacturing organization have been unable to recognize stocktaking as an important thing to consider for effective and efficient manufacturing process to be taken place in any organization, and also more emphasis should be laid on the importance of stocktaking because without effective and proper stocktaking by an organization, the organization will find it difficult to achieve its goals, this also helps the stock-takers to know the wiser way of taking stock in case they were not educated on the effectiveness and efficiency of stocktaking

1.5 Scope of the Study

This project work is undertaken to cover stocktaking as a tool for improving efficiency in a manufacturing organization it will also examine the company ranging formation through the objective area of storage system, operating sinecure receipts and payment.

1.6 Limitation of the Study

In any research work, one is bound to encounter some difficulties some of these difficulties encountered in this project work include:

a. Finance:

Finance is the major important factor, for the researcher to be able to get adequate information that he needs a lot of money spending must be involved.

b. Time:

Time is another factor which the researcher encounters in doing his project work, the degree of time consumed at the expenses of some important things like assignment cannot be over emphasized.

c. Sourcing of Material:

In research work, it is very difficult for the writer of this project work to get suitable materials that will serve as a guide in producing this work.

…

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

Summary Headlines for The Importance of Stocktaking in a Manufacturing Organization