ROLE OF STOCK CONTROL IN A MANUFACTURING COMPANY

ROLE OF STOCK CONTROL IN A MANUFACTURING COMPANY

CHAPTER ONE

1.0 INTRODUCTION
Stock and its control have a concept which has been as old as human race in the history of mankind. If the origin of stock control is well traced, we discover that it has some elements of recognition. In the story of the early man, we were made to understand that they lived an unsettled life having no control and kept nothing for future use, and due to this, they were faces with different problems caused by out of stock.
These days, manufacturing companies tend to put stock control into practice having known that such are expected from them, therefore as the management practice are becoming are becoming increasingly dynamic with the passage of them, numerous future planning and controlling activities that are formally performed by clerks have reading efforts in
Corporate objectives and inventory control as a vital element of materials management is of function that should be given proper attention. According to mocker (1984), control can be defined as a systematic effort by business management to compare performance to predetermined standards plans of objective, to see where performance is in line with standards and presumably take to any remedy actions required to see that human and corporate resources are been used in the most effective and efficient manner in achieving cooperate objective. Therefore stock control according to A.M. Uzor (2006) represent the correct quantity of materials made available and as when required with due regards to economy storage and ordering cost purchase price and use of working capital, Zenz (1994:1640). Further stressed that stock control should be regarded as any item of materials used within the production process, or in the operation of the business. From the above set of definitions, one is left in no doubt of the fact that stock control is the life wire of any industry.

1.1 BRIEF HISTORY OF CONSOLIDATED BREWERIES
Consolidated breweries plc was incorporated in September 20th 1968 under the name eastern brewery was changed to continental y’s ery limited with the brewery of 33 lager beer.
In 1996, continental brewery plc gave birth to consolidated brewery plc which was originated from France. it began producing the second product (hi malt) in 1983, therefore becoming one of the largest producing malt in the country as at that time, consolidated breweries became a public quoted company in Nigeria stock exchange market. Meanwhile, the company has about 25,000 Nigerian shareholder holding 90% of the company’s equity while 105 of the company’s equity are held by foreign association and citizens.
This company has its head office at Lagos and two branches producing at Ijebu-ode and Awo-Ommama, it has about 500 employees of which junior staff has the highest of 77% of workers.

1.2 STATEMENT OF THE PROBLEM
This study titled the role of stock control in a manufacturing company, a case study of a consolidated breweries plc Awo-Amama in Imo state is aimed at examining and understanding the predicament associated with inventory or stock control system and to eventually relate these problems to stock control in a manufacturing company and they include;
1. The problems that affect the implementation of stock control system.
2. To know the present stock control procedure measurement using consolidated breweries plc Awo-Omama as a suitable case study.
3. To examine the reason for holding stock
4. To also recognize the key roles/functions of stock control

ROLE OF STOCK CONTROL IN A MANUFACTURING COMPANY