ASSESSMENT OF THE NEED FOR EFFECTIVE STORES RECORDS IN THE PUBLIC SECTOR STORES

ASSESSMENT OF THE NEED FOR EFFECTIVE STORES RECORDS IN THE PUBLIC SECTOR STORES

ABSTRACT

Stock like the human beings are important elements of an organization. As such, effective and efficient store record system is necessary for good management and administration of stocks in the organization. In the face of a weak private sector driven economy, the government have decided to provide for majority of the amenities, facilities and development needed to keep the economy growing. These in return have made the government to be involved in Business even when governments have no Biz in Biz. In order to be a good business man, there is need for transparency and accountability in the management of government transaction including its stocks and stores. In Essence, this research work is aimed at examining and assessing the need for effective store records in the public sector using Owerri Municipal Council as a case study. The project work will further examine the various purchasing policies in the public sector. Various types of store records and their functions will be assessed.

CHAPTER ONE

1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
As personnel is seen as a life wire of an organization, so also are stock records of paramount important for proper running of any organization be it public or private.  Effective stock systems is required for actualization of organizational goals and objectives. Stock Record are forms of clerical records designed to provide on the spot information about all items of stock held within the stores organization whether public or private. The range of this information will depend upon the system employed and the scope of the operations of the organization. However, their basic functions which stock record system should able to cover in any organization especially in the public sector.
The public services which is sometimes closely called the public sector, exist for smooth running of the states and its affairs, through the execution, implementation and translating of government proposals, policies and programmes into actions. When policies are formulated, approved through legislative processes and enacted as laws, corresponding programmes are put in place for the full implementation of these policy statement. In most cases existing institution are used for the implementation of the programmes of these policies, while in other cases, new agencies/institution are put in place for it implementation. The outcome of this policies are usually through execution of project that are immense benefit to the welfare of the general public or a segment of the society.
Essentially, the execution of project involve the effective management and administration of both human and material resources in other to achieve set goals. This means that materials and other stock are used in public sector in the execution of the affairs of the government. Hence, the main thrust of this research work is to study the need for effective store records in public service specially in Owerri Municipal Council. Owerri Municipal Council was created in December 5, 1996 during the local government review headed by Chief Arthur Mbanefo during the Abacha regim. The council comprises of the following area/villiages as worlds Umuororonjo, Amawom Umuonyeche, Umuodu and Ummonyima popularly called Owerri Nchi-ise.
Owerri municipality assumes the regional headquarter of the Eastern region, with the federal government locating most of its zonal offices in Owerri. The private sector equally followed suite because of its strategic location in the heart of Imo State. Owerri Municipal Council has a landmass of about 24.88km square. In recognition of the important of the store record function in the public sector store management, the federal government of Nigeria recently reviewed and update store record for effective management and control of scare resources-stores. The regulation are meant to insure that effective store procedures and strategies are adopted and also it covers procurement procedure and store procedure (How to manage material and stock in government stores). This regulation are contain in federal government financial regulation.
Owerri Municipal Council, in it effort to ensure effective store practice are streamlined and outlined various strategies that will help to ensure that there is proper store record in place in the council.

ASSESSMENT OF THE NEED FOR EFFECTIVE STORES RECORDS IN THE PUBLIC SECTOR STORES