AN APPRAISAL OF INVENTORY MANAGEMENT AND CONTROL IN THE MANUFACTURING INDUSTRIES (A CASE STUDY OF KP BEVERAGE NIGERIA LIMITED, OGIDI)
ABSTRACT
This project work is undertaken with a view of finding out the appraisal of inventory management and control in the manufacturing industries. (A case study of kip beverages Nigerian limited ogidi). The study was necessitated by the apparent poor performance and the resulted large operating losses of most of our industries which retard their growth. There are a lot of public concerns on such issues as inventors show unwillingness their money on the industries.
The purpose of these studies is to know that constitutes sound of the appraised inventory management and control in the manufacturing industries. To determine the extent of which sound of the inventory control helping the manufacturing industries to ascertain if the internal control can affect the manufacturing system and make suggestion where possible to industrial ideal to the appraisal of inventory management and control in the manufacturing industries. The population includes managing director, accountant personnel manager and other accounting officers of KP beverages Nigeria limited Ogidi. The method used for data collection was both face to face interview and questionnaires while the method used for analysis the data is frequency table. The researcher found out plans. However, good plans cannot be made unless a sound system of account is involved which says that “for every credit entry, there must be a corresponding debit entry”. This implies that good plans cannot be made unless sound account prepared in accordance with the accounting principles and concepts is being kept. This research work also reviewed that the appraisal of inventory industries involve adequate control, proper budgeting, sound auditing, effective costing system, proper management of information and adherence to accounting standard which increase the profit maximization potential of the company the research.
It was observed that the KP beverages Nigeria Limited Ogidi, Anambra State employs the services of the internal and the external auditors. They also draft their yearly budget and used electronic and manual method in processing financial data in line with the findings, it was recommended that developing industries should adopt the three accounting system namely, financial, management and cost accounting; management should allow their auditor to be independent.
TABLE OF CONTENTS
Title Page i
Approval Page ii
Certification iii
Dedication iv
Acknowledgment v
Table of Content vi
Abstract viii
CHAPTER ONE
1.1. Background of Study 1
1.2. Statement of Problem 3
1.3. Purpose of Study 4
1.4. Research Questions 5
1.5. Formulation of Hypothesis 5
1.6. Significances of the Study 6
1.7. Scope and Limitation of the Study 6
1.8. Limitation of Study 7
1.9. Definition of Terms 7
CHAPTER TWO
LITERATURE REVIEW
2.1. Theories of Inventory 9
2.2. Current Literature on Theories Model Hypothesis and Research Question 11
2.3. Summary of the Literature Review 23
CHAPTER THREE
3.1. Design of the Study 31
3.2. Area of the Study 31
3.3. Population of the Study 31
3.4. Sample of the Study 32
3.5. Instrument for Date Collection 32
3.6. Validation of the Instrument 32
3.7. Distribution and Retrieval of the Instrument 32
3.8. Method of Data Analysis 33
CHAPTER FOUR
4.1. Data Presentation and Interpretation 34
CHAPTER FIVE
5.0. Summary, Conclusion and Recommendation 37
5.1. Summary of findings 37
5.2. Conclusion 38
5.3. Recommendations 39
5.4. Suggestion for further study 40
Appendix 42
Questionnaire 43
Reference 44