This project work will focus on the
impact of stock functions on organizational objectives a case study of Doyin
investment Nigeria limited Ilorin.
Store function is vital part of any
organization whether profit oriented services aimed services for agricultural
No any organization can operate
effectively without store for the purpose of better emphasis the whole project
work will be segmented into five chapters.
Chapter one will comprise of the
general introduction historical background of the case study and general
problems of the study. Limitations and constrains and definition of terms,
chapter two will be devoted to literature review, chapter three will
illuminates the research methodology research approach/Design, summary of data
, research population and sampling size, sampling procedure employed, and
statistical method of data analysis, chapter four will focus on data
presentation and analysis, chapter five being the last chapter will consist of
summary of findings, conclusion, recommendation and appendix.
TABLE OF CONTENTS
of contents viii
1.1 General Introduction 1
1.2 Historical Background of Doyin Investment
1.3 Statement of general problems 4
1.4 Objectives of the study 5
1.5 Significance of the study 6
1.6 Scope of the study 6
1.7 Limitations of the study 7
1.8 Definition of terms 7
2.0 Literature Review 9
3.1 research approach/ design 27
3.2 sources of data collection tools 28
3.3 sampling procedure employed 28
3.4 statistical method of data analysis 29
4.0 Data Presentation and Analysis 31
5.0 Summary of findings 37
5.1 Conclusion 38
5.2 Recommendations 38
store function is primarily concerned with the holding of stock however this
did not say that function of stores is refined to just holding controlling and
issuing of stock but it embraces wide range of acting store control of all
storehouses stock and outside storage units, materials handling function,
quality control activities, training of stores staff clerical administration of
store operation and a host of others.
Moreover, store function is a concept
that involves a progressing of delivery quality control storage progressing of
delivery quality control storage preservation and finally distribution and
However, it stores is a major cost
center because it considerable saving can be effected through an effective and
materials and supplied from this life blood of any efficient control of stores
and this helping organization to the organization profitability.
1.2 HISTORICAL BACKGROUND OF DOYIN INVESTMENT
Doyin investment limited is a member
of Doyin group of companies and the first indigenous company licensed to
manufacture soap and detergent in Nigeria. It was in cooperated on 8th
October, 1984 with head offices at Lagos and factory situated at Dr. Amuda Aluko
way, Ilorin Kwara state.
The company is operated, managed and
directed by full blooded Nigerians owned by courageous and experienced
industrialist, prince (DR) Samuel Adedoyin who had for many years been
championing indigenous technology background integration and the use of local
raw materials in Nigeria.
Doyin investment limited industry was
established in response to the call of the Kwara state government in
industrializing Kwara state government on indigenous of the state to join hands
with the state government in industrializing Kwara state. Prince (DR) Samuel Adedoyin
is the chairman and managing director the affair the companies are managed
under as the leadership of Mrs. Omolola Olabayo who is the executive director
members of engineers. T.N Njoku as the general manager. The company operates
the following departments. Personnel and administration, technical, production
account, sales marketing audit purchasing, laboratory, quality control raw
materials silicate, sulphurization and departments.
The company has greatly contributed to
the growth of the Nigeria economy through industrialization. Despite the
economy downturn, the company has intermorphosed from one detergent factory and
pioneer staff strength of 40 in 1985 to
the present agglomerate of seven factories with a staff strength of over 1000
in the company.
ORGANIZATION STRUCTURE OF DOYIN
INVESTMENT NIGERIA LIMITED
organizational structure is the grouping of the company or institution
activities under different person responsible for carrying out the function of
his/her unit with common ensurate authority to dispose such function, such
person is for all goods and bad in the units under him/her
Doyin investment Nigeria limited group
task into various departments that will ease the performance of those task
functions, these departments are;
and supply department
public affair department is responsible for information management and public
relation activities. The research and statistic is responsible for undertaking
research and provide data policy for undertaking research and provide data
policy information. Finance is responsible for preparing, keeping and implementation
all accounting and financial transaction of the commission supply is
responsible for purchasing storing and distribution of materials, personnel is
responsible for general administration for movement of materials.
department is responsible for providing legal services to the company.
are other special units which are;
unite are also impendent. The auditing responsible for keeping Doyin investment
Nigeria limited financial transaction field services units handle special
assignment delimitation of consistencies.
OF GENERAL PROBLEMS
A lot of problems were observed in the
cause of carrying out this research work.
Among these problem is inability of Doyin
investment Nigeria limited to make head of stores, a member of the management
board, other challenges include;
a. Shortage of qualified stores
always assumed that store operation is nothing more than receiving, storing and
issuing of materials but not realizing that it also performed other functions,
therefore, stores function requires skilled personnel to handle it effectively
while unskilled labour should not be given vital while unskilled labour should
not be given vital work to do.
b. Poor storage facilities:
inadequate storage facilities lead to items getting’s deteriorated and some
items which requires special storage.
c. Poor location system; there is no specific
location for each materials in stock and as such a lot of times are wasted
before material can be located. This situation leads to frequent delay and
contact their option or operation before the item needed could be located in
d. Poor coding system: materials kept in
the store were properly coded which make it very difficult to identify the
OF THE STUDY
primary objectives of this research work is to fulfill one of the pre-requisite
for the award of national diploma certificate (ND) in purchasing and supply
department, institute of finance and management studies Kwara state
Another objective is to identify the
various contributions of store functions to the achievement of the objectives of
Doyin investments limited.
Furthermore, the research work will
also enable the researcher to have a comprehensive knowledge of the store
management concept, which will no doubt help him professionally.
OF THE STUDY
will enlighten the general public on the impact of stores functions in
achieving organizational objectives. The project is also important in that
researcher’s knowledge will be highly broadened and improved most especially during
and after the research
OF THE STUDY
refers to the areas to be covered by the research project, more importantly the
project will focus on the importance of store as viewed from different
perspective reasons for holding stock methods of controlling stock, the stock
levels taking and stock checking and other important of store function.
scope of the research work is confined to Doyin investment Nigeria limited
owning to a certain limitation which will be dealt with in next portion of
OF THE STUDY
researcher in the course of researcher encountered a lot profits, problem
inadequate fund, there was an inadequate finance for typing binding printing of
the findings this problems to this
is the process of removing of unnecessary variety from process and material
with the aims of reducing cost without detriment to the needs of the user.
these are items held within the store
is the given terms used to describe any stock holding point where the materials
held are supplied entirely from other major store house or central store house
discrepancies: is when the amount of stock found by physical examination fail
to agree with the balance of the stock records.
surplus: is when the stock fund by physical examination exceeds the record
is the process of determining in advance material requirement taking into
consideration the existing stocks in hand at anytime call will be in accordance
with the stock control policy.
records: these are the documents which are record from day-to-day, full
particulars of individuals receipts, issue and balance of stock
time: is the period between recognition of a needs and delivery of the correct
goods sufficient at the proper time of the store
rotation: a procedure which attempt to ensure that supplies do not remain in
stock longer than their selves’ life.
level: this is a basic method of controlling the quantity of the stock is by
fixing for each stock and used as a means of indicating when some actions is
necessary these are many kind of stock level such s minimum, maximum level and