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INVENTORY CONTROL AND PROFIT MAXIMIZATION IN A MANUFACTURING COMPANY; A CASE STUDY OF NIGERIA DISTILLERIES LIMITED, SANGO OTTA OGUN STATE

Dept: ACCOUNTING File: Word(doc) Chapters: 1-5 Views: 3

Abstract

It has been generally accepted that for any organization to produce and satisfy its stakeholders, such organization must have good management team that manages the resources of the organization using some laid down rules. In manufacturing concerns, inventories constitute a greater proportion of assets. The management of inventories usually involves a lot of problems which range from the right time to place order to maximization of profits for the stakeholders. The objective of the study was to determine whether profit is maximized and cost minimized due to the application of the efficient inventory management. To determine also whether manufacturing concerns in our country manage inventories effectively by using inventory management techniques e.g. Economic Lot Size, Just-in-Time etc. Data were collected using questionnaire method, and were analyzed using chi-square (X2) Pearson product moment, correlation co-efficient (r) and regression analysis. The result shows that orders were pla
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