Description
Despite that the Nigerian situation is slightly different from that of the rest of the world, particularly the advanced economies where business organisations are IT compliance; within a different socio-cultural and more literate environment, the same suggestions could be applicable in similar circumstances.
Efciency in Material Management
Despite that the Nigerian situation is slightly diferent from
that of the rest of the world, particularly the advanced
economies where business organisations are IT compliance;
within a diferent socio-cultural and more literate
environment, the same suggestions could be applicable in
similar circumstances. To this end, the following
recommendations are profered specically to ensure
e!ciency in the practice of raw material management in
Nigeria and other parts of the globe"
#. It is recommended that manufacturing organisations
should always determine the minimum level of stoc$ to
carry. This is to ensure that stoc$-out or sudden
unavailability is forestalled. %ith the removal of stoc$-
out, other banes such as loss of production time, low
capacity utili&ation, and inability to meet production
targets will be removed.
'. That manufacturing organisations ma$e raw material
plans and schedules such that arrival of raw material
and other inventories is programmed to ensure that
there is no delay between re(uisition time and the time
of supply. This will prevent production operations from
being disrupted and as such low capacity utili&ation and
inability to meet production targets will be addressed.
). *ll slow-moving stoc$ items should be identied; their
time of need noted to ensure that the maintenance of
such item stops immediately. *ll obsolete items should
be sold to recoup capital loc$ up in them. *c(uisition of
obsolete items could be removed by being aware of
trends in the technological and business environments.
+ver-stoc$ing could be forestalled by having clear
denition of ma,imum stoc$ level. *n adherence to
recommendations on slowmoving stoc$, obsolete items
and over-stoc$ing would ensure that tied-up fund that
could be useful as wor$ing capital is available. In this
way, li(uidity positions of manufacturing organisations
will be better.
-. .mployment of stac$ illiterates as store wor$ers
should be stopped as it results in problems such as
misplacement and dislocation of vital documents, les
and stoc$ items. In areas where higher stoc$
management education is not re(uired, /li$e stoc$
$eeping and records0 employee should be given
ade(uate orientation and training. There should also be
training and retraining of employees to ensure that they
are $ept abreast of developments in the eld.
1. The use of electronic data processing devices will go a
long way in removing the problem of inability to use
inventory models. 2ac$ of $nowledge of the use of
(uantitative values to produce information is the ma3or
hindrance in model application by store personnel.
doc_637730630.docx
Despite that the Nigerian situation is slightly different from that of the rest of the world, particularly the advanced economies where business organisations are IT compliance; within a different socio-cultural and more literate environment, the same suggestions could be applicable in similar circumstances.
Efciency in Material Management
Despite that the Nigerian situation is slightly diferent from
that of the rest of the world, particularly the advanced
economies where business organisations are IT compliance;
within a diferent socio-cultural and more literate
environment, the same suggestions could be applicable in
similar circumstances. To this end, the following
recommendations are profered specically to ensure
e!ciency in the practice of raw material management in
Nigeria and other parts of the globe"
#. It is recommended that manufacturing organisations
should always determine the minimum level of stoc$ to
carry. This is to ensure that stoc$-out or sudden
unavailability is forestalled. %ith the removal of stoc$-
out, other banes such as loss of production time, low
capacity utili&ation, and inability to meet production
targets will be removed.
'. That manufacturing organisations ma$e raw material
plans and schedules such that arrival of raw material
and other inventories is programmed to ensure that
there is no delay between re(uisition time and the time
of supply. This will prevent production operations from
being disrupted and as such low capacity utili&ation and
inability to meet production targets will be addressed.
). *ll slow-moving stoc$ items should be identied; their
time of need noted to ensure that the maintenance of
such item stops immediately. *ll obsolete items should
be sold to recoup capital loc$ up in them. *c(uisition of
obsolete items could be removed by being aware of
trends in the technological and business environments.
+ver-stoc$ing could be forestalled by having clear
denition of ma,imum stoc$ level. *n adherence to
recommendations on slowmoving stoc$, obsolete items
and over-stoc$ing would ensure that tied-up fund that
could be useful as wor$ing capital is available. In this
way, li(uidity positions of manufacturing organisations
will be better.
-. .mployment of stac$ illiterates as store wor$ers
should be stopped as it results in problems such as
misplacement and dislocation of vital documents, les
and stoc$ items. In areas where higher stoc$
management education is not re(uired, /li$e stoc$
$eeping and records0 employee should be given
ade(uate orientation and training. There should also be
training and retraining of employees to ensure that they
are $ept abreast of developments in the eld.
1. The use of electronic data processing devices will go a
long way in removing the problem of inability to use
inventory models. 2ac$ of $nowledge of the use of
(uantitative values to produce information is the ma3or
hindrance in model application by store personnel.
doc_637730630.docx