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INVENTORY CONTROL AS AN EFFECTIVE TOOL FOR COST CONTROL IN AN ORGANISATION (A CASE STUDY OF CADBURY NIGERIA PLC).
- Type: Project
- Department: Accounting
- Project ID: ACC2347
- Price: ₦3,000 ($20)
- Pages: 60 Pages
- Format: Microsoft Word
- Views: 442
ABSTRACT
The topic of this research work is inventory control as an effective tool for cost control in an organization using Cadbury Nigeria plc as a case study. Inventory control can be defined as the implementation of management’s inventory policies in a manner that assures that the goal of inventory management is met. The management of various companies is faced with the problem of at what level inventory should be held in order to have a healthy operation that is optimal stock level that will minimize the cost of stocks the (ordering and holding costs). The researcher objective is to know the effectiveness of inventory control on cost control. In this course of carrying this research work various techniques or methods of data collection were used. They include questionnaires, interviews and observations. A sample size of 73 workers in Cadbury Nigeria plc was also used and was chosen among the number of department/sections of worker using Bowley’s proportional allocation formula. The researcher makes use of three hypotheses in this study to analyze the research project. The researcher made used of Z-test in testing the formulated hypothesis. The researcher used the descriptive statistical tools (tables, figures and percentages) in the presenting and analyzing the data generated from this study. From the analysis, the researcher finds out that effective management of inventory will help a firm to control its cost and contribute to the actualization of a firm organizational goal. The researcher therefore recommends that organization should apply the technique of inventory control with the objective of cost control so as to enable the goal of profit maximization to be attained.
TABLE OF CONTENT
Approval page I
Dedication II
Acknowledgement III
Abstract IV
The topic of this research work is inventory control as an effective tool for cost control in an organization using Cadbury Nigeria plc as a case study. Inventory control can be defined as the implementation of management’s inventory policies in a manner that assures that the goal of inventory management is met. The management of various companies is faced with the problem of at what level inventory should be held in order to have a healthy operation that is optimal stock level that will minimize the cost of stocks the (ordering and holding costs). The researcher objective is to know the effectiveness of inventory control on cost control. In this course of carrying this research work various techniques or methods of data collection were used. They include questionnaires, interviews and observations. A sample size of 73 workers in Cadbury Nigeria plc was also used and was chosen among the number of department/sections of worker using Bowley’s proportional allocation formula. The researcher makes use of three hypotheses in this study to analyze the research project. The researcher made used of Z-test in testing the formulated hypothesis. The researcher used the descriptive statistical tools (tables, figures and percentages) in the presenting and analyzing the data generated from this study. From the analysis, the researcher finds out that effective management of inventory will help a firm to control its cost and contribute to the actualization of a firm organizational goal. The researcher therefore recommends that organization should apply the technique of inventory control with the objective of cost control so as to enable the goal of profit maximization to be attained.
TABLE OF CONTENT
Approval page I
Dedication II
Acknowledgement III
Abstract IV
CHAPTER ONE 1
1.0 Introduction 1
1.1 Background of the study 1
1.2 Statements of the problem 4
1.3 Objectives of the study 5
1.4 Research Questions 5
1.5 Hypothesis of the study 6
1.6 Significant of the study 6
1.7 Scope and limitation of the study 7
1.8 Definition of terms 8
Reference 10
1.0 Introduction 1
1.1 Background of the study 1
1.2 Statements of the problem 4
1.3 Objectives of the study 5
1.4 Research Questions 5
1.5 Hypothesis of the study 6
1.6 Significant of the study 6
1.7 Scope and limitation of the study 7
1.8 Definition of terms 8
Reference 10
CHAPTER TWO
2.0 Review of related literature 11
2.1 Inventory management: Definition of concepts 11
2.2 Problems associated with inventory management 15
2.3 Impacts of improper management of inventory 18
2.3.1 Ideas for improvement 20
2.3.2 Implementation and execution 23
2.4 Benefit of inventory management and control 24
2.4.1 Process of inventory management and control 27
2.4.2 Optimum inventory level 27
2.4.3 Reasons for holding inventory 28
2.5 costs associated with inventories 31
2.6 inventory cost control management 34
2.7 inventory valuation method 37
2.8 Inventory control management and its application 41
2.8.1 Technique of inventory control 42
2.9 Historical background of Cadbury Nigeria plc 45
Reference 47
2.0 Review of related literature 11
2.1 Inventory management: Definition of concepts 11
2.2 Problems associated with inventory management 15
2.3 Impacts of improper management of inventory 18
2.3.1 Ideas for improvement 20
2.3.2 Implementation and execution 23
2.4 Benefit of inventory management and control 24
2.4.1 Process of inventory management and control 27
2.4.2 Optimum inventory level 27
2.4.3 Reasons for holding inventory 28
2.5 costs associated with inventories 31
2.6 inventory cost control management 34
2.7 inventory valuation method 37
2.8 Inventory control management and its application 41
2.8.1 Technique of inventory control 42
2.9 Historical background of Cadbury Nigeria plc 45
Reference 47
CHAPTER THREE
3.0 Research design and methodology 48
3.1 Research design 48
3.2 Sources of data 49
3.3 Research instrument 50
3.4 Reliability/ validity of research instrument 51
3.5 Population of the study 51
3.6 Sample and sampling procedures 52
3.7 Administration of research instrument 55
3.8 Method of data analysis 56
3.9 Decision Criterion for the validation of hypothesis 56
Reference 57
3.0 Research design and methodology 48
3.1 Research design 48
3.2 Sources of data 49
3.3 Research instrument 50
3.4 Reliability/ validity of research instrument 51
3.5 Population of the study 51
3.6 Sample and sampling procedures 52
3.7 Administration of research instrument 55
3.8 Method of data analysis 56
3.9 Decision Criterion for the validation of hypothesis 56
Reference 57
CHAPTER FOUR
4.0 Data presentation and analysis 58
4.1 Data presentation and analysis 58
4.2 Testing of hypotheses 79
4.0 Data presentation and analysis 58
4.1 Data presentation and analysis 58
4.2 Testing of hypotheses 79
CHAPTER FIVE
Summary of findings, conclusion and recommendation
5.1 Summary of findings 87
5.2 conclusions 88
5.3 Recommendations 89
Bibliography
INVENTORY CONTROL AS AN EFFECTIVE TOOL FOR COST CONTROL IN AN ORGANISATION (A CASE STUDY OF CADBURY NIGERIA PLC).
Summary of findings, conclusion and recommendation
5.1 Summary of findings 87
5.2 conclusions 88
5.3 Recommendations 89
Bibliography
- Type: Project
- Department: Accounting
- Project ID: ACC2347
- Price: ₦3,000 ($20)
- Pages: 60 Pages
- Format: Microsoft Word
- Views: 442
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