Effective inventory management is a tool to run the organization property. Therefore, assessments of inventory management have a vital role. This is the reason why the study is conducted. To conduct this research, applying descriptive research is believed to be appropriate. In this study census was used, because it increase research quality and the population size is less than 100. To get relevant data both primary and secondary data were collected. After the data collection process ends, it was analyzed by descriptive statistics like percentage and table.
This study was conducted in ArbaMinch University. Based on the findings of the study, the researcher forward feasible recommendation so as to help the organization overcome its inventory management related problems. The major finding of the study indicates that the inventory management practices of the university were poor.
Table of Contents
1. Introduction
1.1. Background of the study
1.2. Statement of the problem
1.3. Objective of the study
1.3.1. Specific objective
1.4. Re-search method
1.4.1. Re-search design
1.4.2. Sampling technique and sample size
1.4.3. Method of data collection
1.4.4. Method of data analysis
1.5. Significant of the study
1.6. Scope of the study
1.7. Limitation of study
2. Literature review
2.1. Definition of inventory
2.2. Inventory management
2.3. Objective of inventory management
2.4. Need of inventory
2.5. Inventory store/storage
2.5.1. Types of stores
2.6. Function of inventory management
2.7. Aim of inventory management
2.8. Types of inventory
2.9. Cost of inventory
2.10. Alternative inventory system
2.11. Inventory control
2.12. Inventory costing
2.13. Stock taking
2.14. Re-order point
2.15. Inventory decision
2.16. Inventory-management model
3. Data Analysis and Presentation
3.1. Demographic characteristics of respondents
3.2. Analysis and Interpretation of the data
4. Summary of major findings, conclusion and recommendation
4.1. Summary of major findings
4.2. Conclusion
4.3. Recommendation
Research Objectives and Themes
The primary objective of this research project is to conduct a comprehensive assessment of the existing inventory management practices at Arba Minch University. By identifying current operational challenges and evaluating existing control mechanisms, the study aims to provide actionable recommendations to enhance efficiency and reduce unnecessary costs within the university's property administration.
- Analysis of inventory control techniques and storage systems currently employed.
- Evaluation of the impact of current stocking practices on operational efficiency.
- Assessment of employee qualifications and awareness regarding inventory utilization.
- Identification of root causes for inventory damage and discrepancies between physical stock and records.
Excerpt from the Book
1.1 Background of the study
Inventory is store or stock of goods. Firms typically stock hundred or even thousands items of inventory ranging from small thing to large such as machines, trucks, construction equipments and air plan. (Steven 2007; P, 541).Naturally, many of the items a firm carries inventory related to the kind business it engages in. Thus, manufacturing firms carry supplies of raw material; partially finished items finished items, as well as spare parts of machine tools and other supplies. (Steven, 2007; P, 541). Inventory is defined as ideal resources of any kind that has potential economic value a considered as locked up capital. A practical definition from material management angle would be “item of store or material kept in stock to meet future demand of production, repair maintenance etc.” Inventory management refers to the process of managing the stock of finished products, semi finished products and raw materials by firms inventory management, If properly , can bring down costs and increase revenue of an item.(R.S. Saxena:; 2009, p,2). Inventory management is an activity employed in maintaining the optimum number or an amount of each inventory item. The objective of inventory management is to provide uninterrupted production, sale and customer service at a minimum cost since for many companies inventory is the largest item in the current asset category, Inventory management problem can and do contribute to loses or even business failures. (R.S, Saxena, 2009, P.4). Like other organization Arba Minch University have different inventories. Arbaminch University was established in 1981 E.C. The established objective of the university is to create skilled and qualified man power. In this university, there is inventory management problem, so that, the researcher will investigate it.
Chapter Summaries
1. Introduction: This chapter outlines the background, problem statement, research objectives, and the methodological approach adopted to study inventory management at the university.
2. Literature review: This section provides a theoretical framework by defining key inventory concepts, management models, costing methods, and the significance of efficient storage and control systems.
3. Data Analysis and Presentation: This chapter presents the empirical results derived from questionnaires and interviews, focusing on respondent demographics and the evaluation of existing inventory practices.
4. Summary of major findings, conclusion and recommendation: This final chapter synthesizes the primary research outcomes and offers concrete suggestions to improve the university's inventory management performance.
Keywords
Inventory Management, Arba Minch University, Stock Control, Economic Order Quantity, Storage Systems, Inventory Costs, Material Management, Operational Efficiency, Stock Taking, Physical Inventory, Procurement, Property Administration, Warehouse Management, Inventory Damage, Inventory Evaluation
Frequently Asked Questions
What is the core focus of this research?
The research focuses on assessing the current inventory management practices at Arba Minch University to identify operational weaknesses and provide improvement strategies.
What are the primary areas covered in the study?
The study covers inventory control techniques, storage infrastructure, inventory costing, employee awareness, and the impact of procurement decisions on overall university operations.
What is the primary goal of this project?
The primary goal is to evaluate the effectiveness of current inventory practices and provide recommendations to mitigate common problems like over/under-stocking and inventory damage.
Which methodology was chosen for this research?
The study employs a descriptive research design, utilizing a census approach to collect primary and secondary data from employees working within the university's inventory sector.
What does the main body of the work analyze?
The main body analyzes theoretical foundations of inventory management alongside a detailed presentation and interpretation of survey results collected from university staff.
Which keywords characterize this work?
The work is characterized by terms such as Inventory Management, Stock Control, Economic Order Quantity, Storage Systems, and Operational Efficiency.
Why did the researcher focus on Arba Minch University?
The researcher chose this specific site because of observed inventory management problems and the need to optimize resource utilization within the institution.
What is the significance of the findings regarding stock verification?
The findings indicate that physical stock often differs from recorded levels, suggesting significant recording errors that require better management and staff training.
How does the university currently manage its inventory?
The study reveals that while the university utilizes methods like Economic Order Quantity and a closed store system, overall practices remain insufficient due to lack of staff skills and inadequate storage.
What are the major consequences of poor inventory management identified here?
Major consequences identified include increased operational costs, higher risk of damage to food and chemical items, and frequent interruptions in essential services.
- Citation du texte
- Yitayew Alemu (Auteur), 2014, Inventory Management Practice in Case of Arba Minch University, Munich, GRIN Verlag, https://www.grin.com/document/381182
