INVENTORY CONTROL AND CUSTOMER SATISFACTION CASE STUDY: MONITOR PUBLICATION LIMITED


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TABLE OF CONTENTS

DECLARA TJON ·················v··············································-~·-·························································· i

APPROVAL ..................................................................................................................................... ii

DEDJCA TION ................................................................................................................................. iii

ACKNOWLEDGEMENT ............................................................................................................... iv

TABLE OF CONTENTS .................................................................................................................. v

LIST OF TABLES .......................................................................................................................... x

LIST OF ABBREVIATIONS .......................................................................................................... xi

ABSTRACT .................................................................................................................................. xii

CHAPTER ONE ............................................................................................................................... I

INTRODUCTION ............................................................................................................................ I

1.0 Introduction ................................................................................................................................. I

l.I Background of the study ............................................................................................................ I

1.2 Statement of the problem ............................................................................................................ 2

I .3 Purpose of the study .................................................................................................................... 3

I .4 Objectives of the study ................................................................................................................ 3

I.5 Research question ...................................................................................................................... 3

I .6 Scope of the study ....................................................................................................................... 3

1.6.I Geographical scope .................................................................................................................. 3

1.6.2 Subject scope ........................................................................................................................... 4

.6.3 Time scope ............................................................................................................................... 4

.7 Significance of the study ............................................................................................................. 4

v

CHAPTER TWO .............................................................................................................................. 5

LITERATURE REVIE~ .............................................. , ...............................................•.................. 5

2.0 Introduction ................................................................................................................................. 5

2.1 Inventory control ......................................................................................................................... 5

2.1.1 Types of inventory ................................................................................................................... 6

2.1.2 Inventory costs ......................................................................................................................... 8

2.1.3 The need for holding inventories ............................................................................................. 8

2.1.4 The need for inventory control ................................................................................................ 9

2.1.5 Inventory Control Strategies .................................................................................................. I 0

2.2 Conceptual flame work ............................................................................................................. 14

2.2.1 Determinants of level of customer satisfaction ...................................................................... l6

2.2.2 Customer care and customer handling ................................................................................... 16

2.2.3 Product of service quality ...................................................................................................... 17

2.2.4 Behaviour of internal customers ............................................................................................ !8

2.2.5 Customer needs and expectation ............................................................................................ 18

2.2.6 How to measure customer satisfaction .................................................................................. 19

2.3 Relationship between inventory control and customer satisfaction .......................................... 19

2.3. I Inventory quantities ............................................................................................................... 21

2.3.2 Timing of inventory purchase and releases ........................................................................... 22

2.4 Conclusion ................................................................................................................................ 22

CHAPTER THREE ........................................................................................................................ 23

lliSEARCH METHODOLOG¥ .................................................................................................... 23

\.0 Introduction ............................................................................................................................... 23

:.1 Research Design ........................................................................................................................ 23

VI

3.2 Area of the study ....................................................................................................................... 23

I . )' 3.3 Study popu at IOn .................................................. , ............................................... , .................... -~

3.3.1 Sampling technique ................................................................................................................ 24

3.3.2 Sampling design ................................................................... ." ................................................. 24

3.3.4 Sampling procedures .............................................................................................................. 24

3.4 Sources of data .......................................................................................................................... 24

3.4.1 Primary sources ...................................................................................................................... 24

3.4.2 Secondary sources .................................................................................................................. 24

3.5 Data collection instruments ....................................................................................................... 25

3.5.1 Questionnaires ........................................................................................................................ 25

3.5.2 Interview guide ...................................................................................................................... 25

3.5.3 Observation ............................................................................................................................ 25

3.5.4 Literature survey .................................................................................................................... 26

3.5.5 Validity and Reliability of the tools ....................................................................................... 26

3.6 Data Quality Control ................................................................................................................. 26

3.7 Study variables .......................................................................................................................... 26

3.8 Data Analysis and presentation ................................................................................................. 26

3.9 Procedures of the study ............................................................................................................. 27

3.10 Limitation of the study and their likely solutions ................................................................... 2 7

CHAPTER FOUR ........................................................................................................................... 28

PRESENTATION, ANALYSIS AND INTERPRETATION OF FINDINGS ............................... 28

!.0 Introduction ............................................................................................................................... 28

k 1.0 Demographic characteristics of the respondents .................................................................... 28

.1.1 Gender composition of the respondents ................................................................................. 28

vii

4.1.2 Period spent working with Monitor Publication Ltd ............................................................. 28

4.1.3 Education level of the respondents ................. , ............................................... , ...................... 29

4.1.4 Age group of respondents ...................................................................................................... 30

4.1.5. Marital status of the respondents .......................................................................................... 30

4.2.0 Findings on inventory control. ............................................................................................... 31

4.2.1 Inventory control techniques are well understood by the majority employees in the

organization ..................................................................................................................................... 31

4.2.2 Inventory control is conducted annually in the organization ................................................. 32

4.:2.3 The organization puts greater emphasis on monitoring optimal stock levels and keeping

inventory records ............................................................................................................................ 32

4.2.4 Raw materials and finished goods occupy the highest levels ofactivity, .............................. 33

4.2.5 There are other items maintained by the organization apart from raw materials and finished

goods. 34

4.2.6; All inventories are inspected by the organization ................................................................. 34

4.2.7 Economic order quantity is the major inventory control technique most preferred by the

Oi'ganization ..................................................................................................................................... 35

4.2.8 There are other inventory control techniques apart tram economic order quantity .............. 35

4.3.0 Findings on customer satisfaction .......................................................................................... 36

4.3.1 Daily monitor is the major product offered to the customers by the organization ................ 36

4.3.2 Monitor Publication Ltd provides quality products to its customers ..................................... 37

0.3Individual clients are the mi(jor customers of the products offered by the organization.

'indings on whether individual clients are the major customers of the products were considered

tiid can be evidenced below ........................................................................................................... 37

.3.4 Distribution channels of Monitor Publication Ltd are convenient and attractive to

ustomers ........................................................................................................................................ 38

3.5 There is a high level of products sales in the organization .................................................... 39

4 Relationship between inventory control and customers satisfaction ........................................ 40

viii

CHAPTER FIVE ............................................................................................................................ 4 I

SUMMARY, CONCLUSION AND RECOMME!'IDATIONS ........................... 4 ......................... 41

5.0 Introduction ............................................................................................................................... 41

5.1.0 Summary of the findings ........................................................................................................ 41

5.1.1 Findings on Inventory control ................................................................................................ 41

5.1.2. Findings on customer satisfaction ......................................................................................... 41

5.1.3 Findings on the relationship Inventory control and customer satisfaction ........................... .41

5.2.0. Conclusion ............................................................................................................................ 42

5.2.1. Conclusion on inventory contro/ ........................................................................................... 42

5.2.2 Conclusion on customer's satisfaction ...... ; ............................................................................ 42

5.2.3. Conclusion on relationship between Inventory control and customer satisfaction .............. .42

5.3.0. Recommendations ................................................................................................................. 42

5.3.1 Recommendation on Inventory control ................................................................................. 42

5.3.2 Recommendation on customer satisfaction ........................................................................... 42

5.3.3 Recommendation on the relationship between Inventory control and customer satisfaction 43

5.4 Areas for further research ......................................................................................................... 43

REFERENCES ............................................................................................................................... 44

APPENDIX A-QUESTIONNAIRES ............................................................................................. 46

APPENDIX B ................................................................................................................................. 51

rNTERVIEW GUIDE ..................................................................................................................... 51

APPDNDIX C ................................................................................................................................. 52

liME SCHEDULE ......................................................................................................................... 52

APPDNDIX D-BUDGET ............................................................................................................... 53

APPDNDIX E-INTRODUCTION LETTER ................................................................................. 54

ABSTRACT The study was about Inventory control and customer satisfaction in Monitor Publication ltd. The study was mainly based on three research objectives that is: to investigate the inventory control techniques used by the organization, to determine the level of customer satisfaction in the organization and to determine the relationship between inventory control and customer satisfaction in Monitor Publication ltd. The study employed a cross section design together with descriptive and analytical research design, based on both quantitative and qualitative data. Questionnaires and interview guide were used to collect data and a sample size of 45 respondents was selected using stratified sampling technique. Data was summarized, sorted, edited and analyzed using statistical packages for social scientists (SPSS) and Microsoft word and the findings were presented in a report format. Findings on Inventory control were that Monitor Publication Ltd puts greater emphasis on monitoring optimal stock levels and keeping Inventory records and conducts Inventory control annually. It was however established that Inventory control is not well understood by majority employees of Monitor Publication Ltd and not all items are inspected. Findings on Customer satisfaction were that Daily Monitor is the major product offered to customers, however it was established that Monitor Publication does not provide quality products to its clients and the distribution channel is not convenient and attractive to customers. Findings show that there is a significant positive relationship between Inventory control and Customer satisfaction in the organization. Recommendations on Inventory control were that Monitor Publication Ltd needs to train and sensitize employees regarding the importance of Inventory control and also ensure that all items are inspected so that they do not get problems c.oncerning Inventory monitoring and record keeping. Recommendations on Customer satisfaction were that Monitor Publication Ltd need to put more effort on improving product quality as well as improve on its distribution channel so as o make its products more convenient and attractive to customers. Therefore more effort should Je put on Inventory control to achieve Customer satisfaction.

INVENTORY CONTROL AND CUSTOMER SATISFACTION CASE STUDY: MONITOR PUBLICATION LIMITED
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

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    Details

    Type Project
    Department Business Administration and Management
    Project ID BAM3230
    Fee ₦5,000 ($14)
    No of Pages 63 Pages
    Format Microsoft Word

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