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IMPORTANCE OF STORE ADMINISTRATION ON THE SURVIVAL OF A MANUFACTURING FIRM. A CASE STUDY OF UNILEVER PLC, ABA

(Accounting)

IMPORTANCE OF STORE ADMINISTRATION ON THE SURVIVAL OF A MANUFACTURING FIRM.

A CASE STUDY OF UNILEVER PLC, ABA

ABSTRACT

Store administration information aid in manufacturing organisations and for that, no manufacturing organisations can ever survive without an effective store administration. More especially, the one under study, which is highest user of store. Decisions have to be made as to how to make use of the available resources in order to attain the corporate objectives through the use of store administration. These decisions may revolve around the application methods of the principles and techniques guiding the process of organization applies the role of store administration, they use to make proper and reasonable use of the resources wisely.

In this view, it is the intention of the researcher to demonstrate the importance of effective store administration in the continuous survival of any manufacturing firm. This project has been written to inform the uninformed who by virtue of his position found himself as the store administrator and has the belief that the organization may be profitable without the store.

The first chapter of this project is the introduction chapter, then chapter two is for the review of related literature while chapter three is designed to demonstrate the research method the researcher wishes to implore. The researcher sees store control measures and evaluation of stock in store as the most role of effectiveness of any manufacturing firm. It is on this ground that the researcher has chosen to analyse in the course of the study. This will be found in chapter four, chapter five deals with discussion on findings, summary, conclusion and recommendation.

TABLE OF CONTENTS

CHAPTER ONE

        INTRODUCTION

1.1         Background of the study                                                                                       

1.2         Statement of problem                                                                                             

1.3         Significance of the study                                                                                      

1.4         Scope and limitations of study                                                                                         

1.5         Definition of terms                                                                                                  

1.6         Statement of hypothesis                                                                                        

CHAPTER TWO

LITERATURE REVIEW

2.1         Relationship between stores and other major departments                            

2.2         Reason for holding stocks                                                                                    

2.3         The current of stockholding                                                                                  

CHAPTER THREE

RESEARCH METHODOLOGY

3.1         Sources of data, research population                                                                 

3.2         Method of data collection                                                                                      

3.3         Data analysis techniques                                                                                     

CHAPTER FOUR

PRESENTATION AND INTERPRETATION OF DATA

4.1         Instrument for data collection                                                                               

4.2         Administration of questionnaire                                                                           

4.3         Method of analysis                                                                                                 

4.4         Data analysis and interpretation                                                                          

4.5         Testing of hypothesis                                                                                             

CHAPTER FIVE

SUMMARY AND FINDINGS

5.1         Recommendation                                                                                                   

5.2         Conclusion                                                                                                                            

CHAPTER ONE

1.0         INTRODUCTION

Nigeria has so much developed that there are different kinds of business ventures established all over the stages in the country. These business returns include manufacturing, industries, companies and business enterprises. Among these business ventures mentioned the most suitable one, which gives a strong link to the others, is the manufacturing industries. The term manufacturing is the production of goods and services with the availability raw materials in order to reach the consumers. The term industries means a unit of firm who convert this raw materials produced for the production of goods and services in order to make it available to the necessary ports needed especially for human consumptions.

In the manufacturing industries, before this raw material is being converted into finished goods or products, they are being stored in the store. The reasons of storing this raw materials may be to make a suitable production processes in order to result a good product or some of this raw materials has some certain days or weeks to store them in the store house before they will be taken out for production. The storage department where these raw material or finished goods are being stored is called store department.

This store department involves a lot of sectional heads such as the store keeping or store administration. The person who administers this store or takes care of this store is known as the storekeeper. The store keeping or store administration involves the securities of raw materials and the finished goods and services. The items that are being stored in the store are raw materials. These items are the lifeblood of any organization, be it industries, institutional or social. They must be available at the proper time, at the proper place, in the proper quantity and the right price. Failure of any of these responsibilities concerning stores add to company costs and decreases companies’ profit.

In a typical manufacturing firm, using a case study of Unilever plc, stores represent well over 65% of the total costs of production. A reduction in the cost of stores in Unilever plc offers an opportunity for a profit improvement. Therefore the effective and efficient management of materials is essential for the survival of a manufacturing firm that the case study is “Unilever plc”.

1.1         STATEMENT OF PROBLEM

The core problem under examination is the definition of store administration or store keeping in “Unilever plc”.

The Abia state polytechnic lecturer whose name is Mr. Uduma defines store keeping as the supervision of the storage of materials and goods to ensure that they are maintained in good condition of safety and readiness for use when required. This definition stated is concerned with the physical handling and well being of stocks. There are problems which arises in store administration or storekeeping in unilever plc, which includes:

a.                    Important items that are needed at vital point of production can deteriorate as a result of bad storage and may cost a company a great deal inlost output.

b.                    An inadequate stock record systems and operation in unilever as regards to proper information.

c.                    Stock discrepancy in unilever as regards to physical process of counting, checking and measuring all the materials, tools and other equipment held within the store.

d.                    The problem of operational need as regard to availability of stock at the proper place, at the proper time, in a proper quantity and at the right price.

1.2         OBJECTIVE OF THE STUDY

1.                    To find out the various advantages on achievement on unilever plc, has acquired in terms of effective store administration.

2.               To notify how other functional department can contribute to the survival of unilever plc, in terms of effective store administration.

3.               How unilever prevent some vital items from deteriorating.

1.4       SIGINIFICANCE OF THE STUDY

This study is particularly embarked upon with the hope that it will be useful to the entire manufacturing firm (unilever) in understanding the importance of effective store administration.

This project is also important for future researchers who might be interested in carrying out similar research study on the importance of effective store administration on the survival of most manufacturing firm.   

Finally, the work will equally be of great use to casual readers who might be interested in keeping more concerning the importance of store administration on the survival of unilever plc.

1.4         SCOPE OF STUDY

The areas which covers the store administration is as follows:

a.                   Holding, controlling and issuing stocks: This entails how raw materials or finished goods can be held in order to maximize a high project and controlling the stocks from deteriorating and issuing the stock at the proper price, proper quantity, proper place and proper time.

b.                   Quantity control activities: This entails checking the quality of a product in terms of its quantity before it could be allowed for storing. These duties belong to the quality control manager.

c.                    Materials: This system of handling material in order to maintain effective and efficient systems of products produced from unilever plc.

1.5         DEFINITION OF TERMS

Manufacturing: This is a process of converting raw materials into finished goods and services for the purpose of consumption.

Stocks: These are goods that were formally in a raw state, later underwent some chemical processes and become consumable goods.

Stores: This is a big house in form of warehouse where these goods produced are being stored and ready to undergo some other processes before reaching the final consumer.

Accounting: This entails the recording and reporting of goods or stocks that are brought and manufactured.

Stockyard: This is a building which surrounds the manufacturing firms including the stock house.

Work in progress: This is the systematic process of manufacturing raw materials, which undergoes different process before reaching the final process.

1.6         STATEMENT OF HYPOTHESIS

To appraise the importance of store administration on the survival of a manufacturing firm the following hypothesis has been formulated.

1. H0:  The availability of stock in store at the proper place, at the proper time, in the proper quantity and at the right place. Price adds an increase to company’s profits.

H1:       The availability of stock in store at the proper place, at the proper time, in the proper quantity at the right price does not increase but adds more cost and decreases the companies profit.

2. H0: Good store administration brings about a quick evaluation of stock and the true position of the firm at a glance.

    H1: Good store administration brings about a quick evaluation of stock neither does it give the true position of the firm at a glance.

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    Project Details

    Department Accounting
    Project ID ACC0399
    Price N3000 ($14)
    CHAPTERS 5 Chapters
    No of Pages 60 Pages
    Methodology Simple Percentage
    Reference YES
    Format Microsoft Word