INVENTORY MANAGEMENT ON HASKE SWEET COMPANY
Umar Mohammed Ali , PhD Student Of City University CambodiaAbstract
As the most important part of a company’s current assets, effective inventory management is not easy especially in a manufacturing enterprise where inventory management plays a great rule in the survival of a company. The most difficult task in inventory management is to determine the optimum level of inventory and also appraise a decision rule for ordering inventory in the right quantity and at the right time. This will ensure the management to avoid the holding cost and the Out of stock cost.
The inventory item of Haske sweet and confectionery Nigerian Ltd, Maiduguri include, raw materials, stock of finished goods and the inventory of suppliers item (i.e stationeries, spare parts etc). Each of the above inventory plays a significance role to the survival and continuous operation of the company under study.
To ensure effective inventory control in the Haske sweet various techniques like minimum – maximum system of contract Economic order quantity (EOQ) method for estimating the quantity to order in a given period of time and Bin card system of control are used in the company.
Keywords
Company, Inventory, Management Sweet Borno State
References
HARPER,W.M. Cost Accounting 2nd Edition, London Mac Donald and Evans (1974).
IBEkwe, O.U. Modern Business Management Owerri: New African Publishing Company Ltd. (1984).
JESSOP, D. and MORRISON, A. Storage and Control of stock 2nd edition, London: English Book Society (1986).
KEITH, A.L. and GUBELLINI,G.E. Introduction to Business in enterprises
th edition, New York: Mc Grow – Hill
Int Book company (1978).
LEE,L. Jr. and DOLBER, D. W. Purchasing and Materials Management Text and case New Dalhi: Tata Mc Grow-Hill publishing Co. Ltd (1977).
LOWERNCE, D.S. nad HALEY, C.W. Introduction to Financial Management
th edition. New York: Mc Grow – Hill int. Book co.
OWLER L. W. J. AND BROWN J.L. Whendon’s cost accounting and costing methods 14th edition, London: Mac Donald and Evan (1975).
PRITCHARD, J.M. Operational financial management London: prentice- hall inc. (1977).
ROSENBERG, J. M. Dictionary of Business and management New York: a wiley- interscience publication (1978).
TUBB, A. J. Cost Accounting London: Hodder and Stoughton (1977).
JOB Order Costing London school of Accounting (L.S.A.) Lodon: Hodder and Stoughton “Marketing strategies in the context of Present Economic Realities”. Marketing journal Vol. 2 No. 6 (April- June, 1989 P. 29).