The effects of stock control/Stocktaking on stock management:
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Date
2016-09
Authors
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Publisher
Kampala International University, College of Economics and Management
Abstract
The purpose of the study was to analyze the effects of stock control on inventory in business organizations, basing on the following objectives; to find out reasons of stock imbalances during stocktaking to determine ways of minimizing inventory costs, and to provide practical procedures that can enable business implementation and improvement of their stock management.
The descriptive aspect of the research design was used to establish the company performance in relation to its stock management and the analytical research design was used to establish the relationship between stock control and stock management at the Supermarket. The sample size of twenty respondents was determined accordingly. Data used was both primary and secondary, primary data was collected using questionnaires and interview guide, whereas secondary data was collected from; textbooks, journals, reports, and internet.
Findings revealed that majority of the staff at Tropical Supermarket were not aware about the need for stock control practices, which has resulted into increased stock imbalances during stocktaking.
There are various ways on how Tropical Supermarket can minimize inventory costs incurred, and according to the findings there is; use of technology and understanding of total costs.
The research generally proved that there is a positive relationship between stock control and management of stock, this is evidenced by the research objectives, which relate to; stock imbalances, stock costs, and all these affect stock management of an organization. It was recommended that Tropical Supermarket should create awareness about the need for stock control, they also need to utilize the existing stock control techniques, and these will highly help to improve on the inventory management of the company.
Description
A Research Report Submitted to the College of Economics and Management in Partial Fulfillment of the Award of a Bachelor of Science in Statistics of Kampala International University
Keywords
Stock control/Stocktaking, Stock management, Tropical supermarket Naguru