Judgmental and random samples of staff embers and the management of EX. Ltd will be selected to present the unity of inquiry in this particular study. Descriptive and graphical methods will be applied in analyzing the findings. Findings of the study will be presented and finally the study will provide conclusions and recommendations. Everyone is a stock controller, at home and at work. We all keep food, clothes, domestic items, paper, pens and many other goods. Stock control is a natural occupation which everyone does, some more successfully than others.
Nowadays the inventory controller has extra responsibility. The Job has grown from store keeping becoming a management discipline of maintaining the inventory to meet the company policy. The original role of stock control was part of the physical stores control. Management’s role in any organization involves acquisition, disposition, and control of resources that are necessary for the attainment of organization objectives. These resources typically include labor, capital, equipment, and material, but the for case of this study will be focused on stock.
Every organization either uses, transform, distributes, or sell stock of one form or another. The management of stock concerns heir flow to, within, and from the organization. The efficiency of the flow can substantially influence costs and revenue generation and thus hold serious implications for marketing, finance, and production. (Greene 1996) 1 Background Of The Problem The ability to efficiently manage inventory is no small matter in any business Having too little Inventory can Ana up costing your company a lot AT money In lost sales Ana missed opportunities.
However, having too much inventory can also be costly, causing a business to incur unnecessary purchasing, storage fees, and loan interest. It can even leave you loading merchandise that you may never be able to sell, especially if that merchandise is seasonal or holiday-related. So what should a business do? The only thing business can do, is to develop an inventory management system that achieves the right balance of inventory for in the company. How to do that will largely depend on the specific inventory demands of the business and the type of merchandise you sell.
Along the way, the business will have to contend with a variety of issues and considerations, not the least of which will include the following; the turnaround time, inventory tracking systems, establishing order lead times and built- in -buffer. For many businesses, the largest asset on the balance sheet is inventory. But without careful planning, inventory can easily get out of whack, resulting in heavy markdowns due to overstocks and ultimately, serious cash flow problems. 2 Statement Of The Problem Managing inventory is a Juggling act.
Excessive stocks can place a heavy burden on the cash resources off business. Insufficient stocks can result in lost sales, delays for customers etc. The key is to know how quickly your overall stock is moving or, put another way, how Eng each item of stock sit on shelves before being sold. Obviously, average stock- holding periods will be influenced by the nature of the business (Donate 2002). For example, a fresh vegetable shop might turn over its entire stock every few days while a motor factor would be much slower as it may carry a wide range of rarely-used spare parts in case somebody needs them.