CONTRIBUTIONS OF PURCHASING AND STOCK CONTROL IN COSTS REDUCTION

CONTRIBUTIONS OF PURCHASING AND STOCK CONTROL IN COSTS REDUCTION

ABSTRACT

This project on the contributions of purchasing and stock control in cost reduction. Purchasing and survival, get purchasing the wrong material or carrying too little can be catastrophic for the organization.
The question then is, what is the ideal level of the stock control to carry? These are some of the questions the purchasing manager is expected to answer and they will be the focuss project.
In chapter one, introduction of what purchasing and stock control is all what and well explained, background of the study, statement of problem, objective of the study, both limitation of study and definition of the terms were well explained.
In chapter three the design used in conducting various researches was described showing the methods used in collecting data during the researcher eg primary method and the secondary method.
In chapter four the data was analyzed and presented accurately and clearly with the use of tables.
Lastly, chapter five is made up of summary of findings from research work conclusion and recommendation have been made as to know how the various problems could be averted.

CHAPTER ONE

1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Purchasing and store form the main important area in many organizations especially in the manufacturing sector. However, given the average, manufacturing company disposes more than half of its income on materials supplies and service.
The important of procurement as a key function in the management of business can be emphasized by considering the total cost of materials tend in many cases to account for an increasing proportion of product. Also the problems encountered in connection with materials are tendering to become more difficult and more numerous than was previously the case. The term materials is used in general sense and refers to the whole range of goods and services which are used purchased or produced from sources outside the organization and are distributed or processed in order to provide finish products for sales.
Purchasing has long been considered one of the basic functions common to all organization long before the large organization appeared with functionally specialized department, people bought and sold.
Buying, that is acquiring goods and services in return for a price, dates back before the invention of written records. This is the same thing with selling which is the disposal of goods and services in return for a price.
It is likely that human communicates, have always bought and sold and that culturally and materially they have benefited form these transaction.

1.2 STATEMENT OF PROBLEMS
Industries are charged with the responsibility of producing goods of high quality and standard at a very reduced and affordable cost to the citizen. Materials in this respect become so vital that no result could be achieved without a good procurement.
In the topic “ The CONTRIBUTION OF PURCHASING AND STOCK CONTROL IN COSTS REDUCTION” Nigerian Breweries PLC, as the case study is faced with the following problems.
(1) There is the need for the purchasing department to have a good knowledge it stock control and better understanding of its specification requirement
(2) The research is faced with the problem of working out modalities for the improvement of the purchase of the right quality.
(3) Research should be conducted to find out specifically the role of purchasing in a manufacturing company.
(4) Good numbers of manufacturing firm to not take their regularly and this practice could give chance for dishonest and unreliable workers to defraud their companies
(5) There is also a problem of unprofessionally in purchasing function.

DOWNLOAD COMPLETE PROJECT MATERIAL

CONTRIBUTIONS OF PURCHASING AND STOCK CONTROL IN COSTS REDUCTION