Effect of stock management in manufacturing organizations - case study of Metal Furniture Nigeria limited, Lagos Department: Purchasing and Supply By: Eniolamoses Project ID: 8769 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractThis research project examines the impact of effective stock management on organizational performance, with a focus on manufacturing companies in Ilorin, Kwara State. The study investigates how inventory control and management influence customer service delivery, production costs, and overall organizational efficiency. It also explores the relationship between inventory record accuracy and operational effectiveness. A descriptive research design was adopted, utilizing primary data collected through questionnaires administered to 50 respondents from selected manufacturing firms. Data analysis was conducted using frequency tables and percentages, while hypothesis testing was carried out using the chi-square method to determine if there is a significant relationship between inventory record accuracy and customer service delivery. The findings revealed that effective inventory management significantly contributes to reducing production costs, minimizing lead time, and preventing shortages and stock-out costs in the manufacturing sector. A large majority of respondents (96%) agreed that inventory control helps reduce delivery lead times, while all respondents (100%) affirmed its positive contribution to organizational performance. Furthermore, the study found that accurate inventory records enhance customer satisfaction and service delivery. Based on these findings, the study concludes that efficient inventory management practices are essential for improving organizational performance and ensuring cost-effectiveness in manufacturing operations. Recommendations include maintaining accurate inventory records, adopting modern inventory control systems, and training staff on best inventory management practices. This study provides valuable insights into the importance of inventory management in enhancing organizational performance within the Nigerian manufacturing sector and serves as a reference for future research and policy development in this area. Keywords: Inventory Management, Stock Control, Organizational Performance, Customer Service Delivery, Manufacturing Sector, Inventory Record Accuracy...Preview Download Preview +Other Purchasing and Supply project topics and materials you might be interested in»The impact of material management on organization productivity»The role of physical distribution function in a manufacturing company (A case study of 7up bottling company Aba) »The impact of new product development on performance of commercial banks in Nigeria (a case study of three banks in Owerri) »Stock control: a tool for the attainment of organizational objectives in a manufacturing company (a case study of PZ industry Aba, Abia state) »The need for effective stock control in an organization (a case study of Jacobs wine limited, Mgbidi)»The impact of manpower training and development on purchasing personnel in the manufacturing industry (a case study of PZ Cussons plc)»The need for efficient supply management in the public sector (a case study of ministry of finance Imo state)»The impact of the application of health and safety regulations in stores (a case study of consolidated brewery, Awo-Ommama) »The need for training and development of suppliers personnel in the public sector (a case study of ministry of agriculture and natural resources) »Impact of store functions on achieving organizational objectives»Effective purchasing planning as a cost reduction tool in the manufacturing industry»Impact of stock taking as a control measure in a manufacturing company»The role and contribution of purchasing and supply in the profitability of an organization - a case study of Nigerian Bottling Company Plc, Owerri»The roles of effective distribution channels on customers satisfaction»The impact of effective and efficient stock control in a manufacturing organization