ROLE OF THE APPLICATION OF COMPUTER IN INVENTORY PLANNING AND CONTROL IN AN ORGANIZATION
ABSTRACT
Inventories are the life wire of any services and manufacturing organization, they refer to the stock of items used in the operation of the business. This represents a significant portion of most firms assets and such demand proper management of efficiency and effectiveness and in that light it brings us to the research topic” the role of the application of computer in inventory planning and control in an organization . The role of computer as a data processing tools in business is today an issue of economic priority in every large and small services business Especially, the business organizations with large volume of data to be processed and produced as information to management for effective and efficient corporate planning and decision making.
This project work has been divided into five chapters. Chapter one deals with the introduction of the approach, the statement of problems, research questions, objective of the study scope of the study and significance of the study, chapter two is review of related literature both on computer and inventory planning and control in an organization. The next three, outlines the methodology and procedure used in gathering data. Chapter four is where the hypothesis formulated in chapter one are tested, the findings are presented and analysed. Chapter five is the summary, conclusion and recommendation of the research topic.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
As there are different scholars in computer science, so are there different definitions of computer. The same is applicable to inventory planning and control, however all boils down to the same meaning at least though from different perspectives depending on the understanding. Iyang (1996:40 defined computer as” an electronic data processing machine capable of receiving, storing, performing arithmetic and logical operations in line with defined instruction, high speed, accuracy and finally transforming the processed data to an output or presenting the data or information in a final printed or visual from”. A computer system could as an “Electro- mechanical machine which receives data instructions, processes them and produce its result as information which are made up of hardware, software, data ware, and human-ware, computer technology is fast revolutionizing the world, Before computer there had been aids to doing such actions as calculation, storing and retrieving information, which were adopted by various organizations.
In the same view, Arnold (1996:221) defined inventory as materials and supplies that a business or institution carries either for sale or to provide inputs or supplies to the production process. All businesses and institutions require inventories which forms the life wire of any organization. Similarly, inventory planning and control for. According to Arnold (1996:223) is responsible for managing and directing inventory from the raw material stage to the customer. Inventory planning and control involves a wide rage of activities like planning, purchasing, storage, usage and control of inventory and for this to be effective, come the use of computer inventory for easy accessibility.
The role computer play in inventory control be over- emphasized. The computer assemblies all pertinent facts about inventory planning and control and bring all these facts up to date. This has been made possible, by the fact that inventory planning and control recognizes that important role computer plays in inventory. Successful inventory planning and control actions are as a result of a computerized inventory system, where all the additions and withdrawals are recorded electronically, so that the computer can trigger the placement of orders to replenish the inventory. Since inventory is necessary for any company dealing with physical products, what it handles large volume of inventory can best be imagined when told like a storey and it beats human imagination when put into use and it is proved.
