This study aimed to analyze loss due to poor or improper inventory management in the Bahir Dar Textile Share Company (BDTSC). The study sought to find the inventory management techniques used by the spinning section at BDTSC established the level of effectiveness of inventory management.
It also determined the strength and weakness of the company, inventories the control system used, the police and procedure used, assessing the general material handling strategy in BDTSC at spinning section, the role of kaizen in the organization and the coordination of one department to the other in the organization.
The study adopted both a statistically and descriptive research design. The target population was store department, production department, kaizen case team department, planning, and programming department, marketing and selling department, cost and budgeting department, and purchase department.
Table of Contents
- Chapter One: Introduction
- 1.1 Background of the study
- 1.2 Background of Host Company
- 1.3 Mission, vision and objective of the company
- 1.3.1 Mission
- 1.3.2 Vision
- 1.3.3 Objective of the company
- 1.4 Statement of the problem
- 1.5 Objective of the project
- 1.5.1 General objective of the project
- 1.5.2 Specific objective
- 1.6 Some research questions
- 1.7 Significance of the study
- 1.8 Scope of the study
- 1.9 General work flow of spinning section in BDTSC
- 1.10 Limitation of the study
- 1.11 Structure of the study
- Chapter Two: Literature Review
- 2.1 Inventory
- 2.2 Inventory Management
- 2.3 Scope of the inventory management
- 2.4 Nature of inventories
- 2.5 Needs of inventory
- 2.6 Types of Inventories
- 2.6.1 Cycle stock
- 2.6.2 Safety or buffer stock
- 2.6.3 Seasonal stock
- 2.6.4 Dead stock
- 2.7 Requirement for effective inventory management
- 2.7.1 Inventory count (keep track) the inventory
- 2.7.2 Demand for cast and lead time information
- 2.7.3 Cost information holding inventories
- 2.7.4 Ordering cost
- 2.8 Inventory management Techniques
- 2.8.1 Economic order quantity
- 2.8.2 TWO BIN Method
- 2.8.3 FIXED PERIOD ORDERING
- 2.8.4 THREE BIN Method
- 2.8.5 FIXED ORDER QUANTITY
- 2.8.6 Proper storage
- 2.8.7 Just-in-time inventory control
- 2.8.8 Out sourcing (ABC analysis)
- 2.9 Inventory control procedures
- 2.10 Impact of Improper Management of Inventory
- 2.11 Material Storage Losses
- Chapter Three: Research methodology and Design
- 3.1 Data type
- 3.2 Subject of the study
- 3.3 Method of data collection
- 3.4 Source of data collection
- 3.5 Sample size
- 3.6 Sampling technique
- 3.7 Data presentation and Analyzing
- 3.8 Method of presenting the outcome
- Chapter Four: Data Presentation, Analysis and Interpretation
- 4.1 Respondents' Personal Information
- 4.1.1 Respondents' Sex distribution for the returned respondents
- 4.1.2 Respondents' educational level
- 4.1.3 Respondents' age distribution
Objectives and Key Themes
This study analyzes losses stemming from inadequate inventory management at BDTSC (Bahir Dar Textile and Spinning Company). The research investigates inventory management techniques employed, their effectiveness, company strengths and weaknesses, and the impact of these factors on losses. It also explores the role of Kaizen and interdepartmental coordination.
- Assessment of inventory management techniques used at BDTSC.
- Determination of the effectiveness of current inventory management practices.
- Analysis of losses incurred due to inefficient inventory management.
- Evaluation of the role of Kaizen in improving inventory management.
- Examination of interdepartmental coordination within BDTSC.
Chapter Summaries
Chapter One: Introduction: This chapter sets the stage for the research by providing background information on the study, BDTSC, its mission, vision, and objectives. It clearly defines the problem of inventory losses, outlining the study's objectives, research questions, significance, scope, limitations, and the structure of the thesis. The chapter also gives an overview of the spinning section's workflow within BDTSC, providing context for understanding the complexities of inventory management within the company's operational structure. The introduction effectively lays the groundwork for the subsequent chapters, highlighting the importance of understanding the context of BDTSC's operations before delving into the details of inventory management and its associated losses.
Chapter Two: Literature Review: This chapter presents a comprehensive review of existing literature on inventory management. It defines key concepts like inventory, inventory management, and its scope, exploring the various types of inventories (cycle stock, safety stock, seasonal stock, dead stock) and their management. The chapter thoroughly examines the requirements for effective inventory management, including inventory tracking, demand forecasting, cost analysis, and ordering costs. Different inventory management techniques are discussed in detail (EOQ, two-bin, three-bin, fixed order quantity, just-in-time, proper storage and outsourcing), highlighting their applicability and limitations. The chapter also explores the impact of improper inventory management and material storage losses, establishing a theoretical framework for analyzing the practical findings presented in later chapters.
Chapter Three: Research methodology and Design: This chapter details the research methodology employed in the study. It specifies the type of data used, the subjects involved (various departments within BDTSC), the data collection methods (questionnaires), and the sampling technique used (non-probability judgmental sampling). The chapter explains the sample size, data presentation, analysis techniques, and the methods for presenting the research outcomes. This section provides a clear and comprehensive account of the research design, enabling readers to evaluate the validity and reliability of the study's findings.
Keywords
Inventory, inventory management, Economic Order Quantity (EOQ), two-bin system, three-bin system, fixed order, fixed quantity, proper storage, Just-in-Time (JIT), safety stock, dead stock, seasonal stock, loss analysis, Kaizen, BDTSC, supply chain management.
Frequently Asked Questions: Comprehensive Language Preview
What is this document about?
This document provides a comprehensive preview of a research study analyzing inventory management practices and associated losses at the Bahir Dar Textile and Spinning Company (BDTSC). It includes the table of contents, objectives, key themes, chapter summaries, and keywords.
What are the main objectives of the research study?
The study aims to assess the inventory management techniques used at BDTSC, determine their effectiveness, analyze losses due to inefficient management, evaluate the role of Kaizen, and examine interdepartmental coordination.
What topics are covered in each chapter?
Chapter One (Introduction): Provides background information on the study, BDTSC, its objectives, the research problem (inventory losses), research questions, significance, scope, limitations, and the study's structure. It also includes an overview of the spinning section's workflow at BDTSC. Chapter Two (Literature Review): Reviews existing literature on inventory management, defining key concepts and techniques (EOQ, two-bin, three-bin, fixed order quantity, JIT, etc.), and discussing the impact of improper inventory management. Chapter Three (Research Methodology and Design): Details the research methodology, including data types, subjects, data collection methods (questionnaires), sampling techniques, sample size, data analysis, and presentation methods. Chapter Four (Data Presentation, Analysis, and Interpretation): Presents and analyzes the collected data, including respondent demographics and findings related to inventory management practices.
What are the key inventory management techniques discussed?
The study discusses several inventory management techniques, including Economic Order Quantity (EOQ), two-bin system, three-bin system, fixed order quantity, Just-in-Time (JIT) inventory control, proper storage, and outsourcing (ABC analysis).
What types of inventory are considered?
The research considers different types of inventory, such as cycle stock, safety stock (buffer stock), seasonal stock, and dead stock.
What is the significance of this research?
The research is significant because it identifies areas for improvement in inventory management at BDTSC, potentially leading to reduced losses and improved efficiency. It also contributes to the broader understanding of inventory management practices in a textile company setting.
What are the limitations of the study?
The document mentions limitations of the study in Chapter One, though specific limitations are not detailed in this preview.
What keywords are associated with this research?
Keywords include: Inventory, inventory management, Economic Order Quantity (EOQ), two-bin system, three-bin system, fixed order, fixed quantity, proper storage, Just-in-Time (JIT), safety stock, dead stock, seasonal stock, loss analysis, Kaizen, BDTSC, supply chain management.
Where can I find more information about this research study?
This document is a preview; further details are available in the full research study (the thesis itself).
- Quote paper
- Eyob Minbale (Author), 2020, Inventory Management in Textile and Apparel Merchandising, Munich, GRIN Verlag, https://www.grin.com/document/924344
