INVENTORY VALUATION, MANAGEMENT ORGANIZATION (A CASE STUDY OF EMENITE LIMITED, ENUGU)
ABSTRACT
The need for holding inventories is inherited in any business organization. The space of the inventory will be proper controlled so that the objectives of carrying or maintaining adequate inventory levels at minimum cost can be realized.
The study therefore, examined the system of stock valuation, controlled and management in Emenite limited. Considering the nature of the study and the company, a lot of data were generated from questionnaire administration and proposal interview conducted on staff of the industry.
Based on the method of data collection, the researcher found out that the system of inventory control is adequate in design and effective in operation as regards the determination of stock levels which could be attributed to the use of scientific method in deterring the quantity and time to order.
The researcher strongly believe that proper and accurate recording of the him cards, the use of scientific method in stock level determination will enhance the inventory control system of the company.
CHAPTER ONE
INTRODUCTION
1.1Â Â Â Â Â Â Â Â Â Â Â Â Â Â BACKGROUND OF STUDY
Inventory valuation, management and control is the system designed by the management of a firm to control it’s investment in stock.
This is found to be in existence in Emenite limited, Emene, which produces roofing sheets and hard boards for ceiling.
The system involves the recording and monitoring of stock levels, knowing when to orders and how many orders to be placed.
Effective, efficient and Economic inventory helps to check the following costs.
1.           Carrying cost which include interest on capital invested in stock.
2.           Storage charges
3.        Store staffing
4.      Material handling cost
5.      transportation cost
Since management needs information on inventory as a guide to decision making, inventory handling should not be placed on the basic of trial and Arrow.
Material control is an act of management which ensures the provision of the required quality quantity of inventories of the required quantity at the required time. With the minimum amount of capital tied up. It embraces stock control procedure, placing of purchasing, receiving, inspecting, storing requirement and issuing of stocks.
It is an important and difficult task.
Inventories are necessary in order to satisfy ever yawing needs of customers and smooth running of an organization, most organizations invest in large number of inventory items, irrespective of place for everything and everything in it’s place for the stock keeping system to operate effacing.
Floor space is very expensive and must be used to the build warehouse for storing materials and provide things for feasible, bin racks and shows must all be provided.
Is there no between def of inventory valuation?
