THE INVENTORY MANAGEMENT AND CONTROL PROCEDURE IN MANUFACTURING OUTFITS

1.1INTRODUCTION BACKGROUND OF THE STUDY
It is difficult to exaggerate the contribution of production to the society wellbeing. Why this is so, is suggested by Alexander Solzcheritzyn in his novel captioned August, 1914. One of the Chief character in that work Suyatosalar lakinfovich Obodovsy a former anarchist, who maintained the following position. As for industry, anyone who has created something with his own hands know that production is neither capitalist nor socialist but one thing only. It is what creates national wealth, the common material basis without which no country can exist. When enough has been built and made. Then even if distribution is less than perfect, no one will be left without this share. With reference you goods, production could be defined as the fabrication of a physical objects, solid or liquid, through the use of labour, material and equipment, adequate and proper utilization of labour materials and equipment will have to be made in order to enhance greater efficiency, since production is very important to any economy whatsoever. The viability of an organisation can be enhanced through effective and efficient management of material resources. Inventory management control system exists to ensure that proper and adequate utilization of materials are made and that the optimum level of material investment are determined and maintained. This is a notable measure managing material resources. Management of resources covers action taken from the procurement of the resources to their disposal firms the certain measures towards preventing their stock from being in shortage. Pilferage and waste of some of the resources are very effective while others are not. Bindey, I.M. in his book: "Management defined management as an art and science of achieving the set objective of a business in the most efficient way. Management can be defined as the process of reading organisational goals by working and through people and other organisational resources.
TABLE OF CONTENTTitle PageIIApproval PageIIIDedicationIVAcknowledgementVTable of ContentsVI
CHAPTER ONE1.1Introduction/Background of the Study11.2Statement of problems31.3Objective of the study51.4Significant of the study51.5Scope, Limitation and delimitation of the study71.6Definition of basic terms and concepts9
CHAPTER TWO2.0Literature Review132.1Nature of Inventory152.2Inventory Control and Management152.3Objectives of Inventory Control182.4Importance of Inventory Management192.5Objectives of Inventory Management202.6Critical Evaluation of Inventory Problems22
CHAPTER THREE3.1Summary of Findings263.2Recommendation333.3Conclusion373.4Bibliography39