IMPACT OF STORE FUNCTIONS ON ACHIEVING ORGANIZATIONAL OBJECTIVES (A CASE STUDY OF DOYIN INVESTMENT NIGERIA LIMITED ASA DAM ILORIN)
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 undertaking.
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
Title page i
Table of contents viii
1.1 General Introduction 1
1.2 Historical Background of Doyin 1
Investment Nigeria Limited
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
CHAPTER THREE: RESEARCH METHODOLOGY
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
The 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 issue.
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 NIGERIA LIMITED
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
An 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;
a. public affair department
b. research and statistic
c. finance and supply department
d. personnel management department
e. logistic department
f. legal services department
The 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.
Legal department is responsible for providing legal services to the company.
There are other special units which are;
i. the advertising
ii. the field services
These unite are also impendent. The auditing responsible for keeping Doyin investment Nigeria limited financial transaction field services units handle special assignment delimitation of consistencies.
1.3 STATEMENT 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 personnel: it’s 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 the store.
d. Poor coding system: materials kept in the store were properly coded which make it very difficult to identify the material easily
1.4 OBJECTIVES OF THE STUDY
The 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 polytechnic, Ilorin.
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.
1.5 SIGNIFICANCE OF THE STUDY
It 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
1.6 SCOPE OF THE STUDY
This 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.
The 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 chapter one.
1.7 LIMITATION OF THE STUDY
The 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,
1.8 DEFINITION OF TERMS
1. Standardization 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.
2. Stock: these are items held within the store
3. Sub-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
4. Stock discrepancies: is when the amount of stock found by physical examination fail to agree with the balance of the stock records.
5. Stock surplus: is when the stock fund by physical examination exceeds the record figure records.
6. Provisioning: 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.
7. Stock records: these are the documents which are record from day-to-day, full particulars of individuals receipts, issue and balance of stock
8. Lead time: is the period between recognition of a needs and delivery of the correct goods sufficient at the proper time of the store
9. Store rotation: a procedure which attempt to ensure that supplies do not remain in stock longer than their selves’ life.
10. Stock 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 re-order level.