Articles | Open Access | Vol. 1 No. 05 (2021): Volume01 Issue05 | DOI: https://doi.org/10.37547/marketing-fmmej-01-05-01

INVENTORY MANAGEMENT ON HASKE SWEET COMPANY

Umar Mohammed Ali , PhD Student Of City University Cambodia

Abstract

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

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Umar Mohammed Ali. (2021). INVENTORY MANAGEMENT ON HASKE SWEET COMPANY. Frontline Marketing, Management and Economics Journal, 1(05), 1–7. https://doi.org/10.37547/marketing-fmmej-01-05-01