ABSTRACT
The stores function is a vital part of any manufacturing concern, public and private utility undertakings, municipal authorities and government departments. Organisations, most of the time, set profitability improvement as part of their objectives and every organisation strive to maximise such. Some of them could not often achieve this objective due to poor stock control. Stock control is one of the most serious problem confronting modern organisation especially organisations with stock item worth millions of naira. This research study, therefore examine the effort of stock control on profits and how it contribute to decision making process of the organisation. It also highlighted the organisation’s role in effectiveness towards a scientific approach to determine the stock levels which are reasonably accurate but which do not incur unreasonable cost of stock investment.
The stores function is a vital part of any manufacturing concern, public and private utility undertakings, municipal authorities and government departments. Organisations, most of the time, set profitability improvement as part of their objectives and every organisation strive to maximise such. Some of them could not often achieve this objective due to poor stock control. Stock control is one of the most serious problem confronting modern organisation especially organisations with stock item worth millions of naira. This research study, therefore examine the effort of stock control on profits and how it contribute to decision making process of the organisation. It also highlighted the organisation’s role in effectiveness towards a scientific approach to determine the stock levels which are reasonably accurate but which do not incur unreasonable cost of stock investment.
