IMPACT OF STOCK TAKING IN AN ORGANIZATION
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- NGN 5000
ABSTRACT
An independent activity within an organization to review of purchasing and financial policies of the organization are fully implemented as well as malting policies and procedure guideline on stock-taking, account, financial, asset ands liabilities of the department. It has immensely helped in the management of the organization. Despite, there is also improvement in areas like decision making regarding the stock-taking and ensuring the completeness and accuracy of the organization book and other operation as basic for service to management. This study examined the impact of stock taking in an organization and was aimed at investigating the impact of stock taking and its influence on productivity as well as ascertaining the problems and benefit to be gained from it. 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, Rivers state. The outcomes of study were presented in tables while chi-square statistical analysis tool was employed to test the hypothesis formulated in the research. The test result showed a significant relationship between stock taking and productivity and the result also showed that stock taking also has relationship with productivity. This indicated that inventory management was an important tool that could assist the organization to achieve her numerous objectives and improve productivity. The research recommended that managers must ensure that necessary materials are supplied to the department at the right time, so as to ensure effective and efficient operation in the organization, the store officer must also ensure regular inspection of the stores especially areas in which materials are stored and handled, to ensure that unused materials are carefully disposed.
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