Evaluation of inventory control system in manufacturing industry

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This project is to examine how adequate stock control could help in the efficient control of finance. Inadequate control of stock could lead to either loss of or tying down of scarce resources which could have been better utilized by yielding dividends for the company. The methods used in analyzing the data collected are tables and simple percentages. Among the findings of the research, is that store officers and auditors are in charge of stock taking and control of the store. The store should be merged with the purchasing department for effective performance since they complement one another while the use of Bin cards can supplement computers if the company can afford to do so with the view of achieving efficiency in the system of stock control. The research is aimed at achieving adequate stock control and profit maximization to ensure that the firm is in an organized state.
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Evaluation of inventory control system in manufacturing industry