Impact of Stock Management on the Productivity of Business Organizations: A Case Study of Fan Milk Nigeria Plc.

Description

– Impact of Stock Management on the Productivity of Business Organizations: A Case Study of Fan Milk Nigeria Plc –

Download Impact of Stock Management on the Productivity of Business Organizations: A Case Study of Fan Milk Nigeria Plc. Accounting students who are writing their projects can get this material to aid their research work.

Abstract

This study examined the impact of stock and management on the productivity of business organization and was aimed at investigating the impact of stock and management and its influence on productivity as well as ascertaining the problems and benefit to be gained from it.

The study also attempted to determine the effect of inventory management on organizational productivity. The method used in collecting data was a survey research method and the sample size used for the study was Ninety-six (96).

One hundred (100) questionnaires were administered and a total of Ninety-six were returned by the respondents who were chosen from Fan Milk Nigeria plc.

Introduction

Stocks are vital to the successful functioning of manufacturing and retailing organizations. They may consist of raw materials, work-in-progress, spare parts/consumables, and finished goods. It is not necessary that an organization has all these stock classes.

But, whatever may be the stock items, they need efficient management as, generally, a substantial share of its funds is invested in them.

Different departments within the same organization adopt different attitude towards stocks. This is mainly because the particular functions performed by a department influence the department’s motivation.

For example, the sales department might desire large stock in reserve to meet virtually every demand that comes. The production department similarly would ask for stocks of materials so that the production system runs uninterrupted.

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