ROLE OF STOCK CONTROL IN A MANUFACTURING COMPANY
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- NGN 5000
ABSTRACT
The effect of stock control in an organization is so vital in both large and small firm whether in the public or private sector. Serious operational and financial breakdowns can result if a good stock control system is not operated by the stores. Every stock control system must be designed to meet the particular needs of the organization. Stock control is set up in any organization to assists in the production of goods and service and no substantial size can be efficiently manage without it. The basic aim of every efficient manager is to reduce time and labour involved in each operation to the absolute minimum consistent with maintaining required quality.
Survey research design was employed for the study and with the aid of convenience sampling method, 80 staff of Consolidated breweries plc was selected as the participant for the study. Well structure questionnaire was issued to the enrolled participants of which 77 of the instrument were retrieved and validated for the study. Data was analyzed in simple percentage using frequencies and tables. Findings from the study revealed that stock management is practical in Consolidated breweries plc as staff of the company showed core knowledge about stock control. Findings from the study further reveals that the tools organizations use for stock management such as: Barcode data collection,The use of Tags and stacks and Cycle counting to improve accuracy. The study concluded that inventory management is essential in the operation of any business as this will enhance effective stock usage, minimize wastage and ensure business efficiency. The study therefore recommended that Organizations should train their personnel in the area of stock control practices that will empower them to be in charge of smooth running of the stock control activities or program
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