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TITLE PAGE

PRODUCTION PLANNING AND INVENTORY CONTROL IN MANUFACTURING COMPANY

BY

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EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---

DECEMBER,2018

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APPROVAL PAGE

This is to certify that the research work, "production planning and inventory control in manufacturing company" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.

By
---                                                     . ---
Supervisor                                                  Head of Department.
Signature……………….                           Signature……………….        

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External Invigilator

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DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.

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ACKNOWLEDGEMENT

The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.

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PROJECT DESCRIPTION: This work "production planning and inventory control in manufacturing company" research material is a complete and well researched project material strictly for academic purposes, which has been approved by different Lecturers from different higher institutions. We made Preliminary pages, Abstract and Chapter one of "production planning and inventory control in manufacturing company" visible for everyone, then the complete material on "production planning and inventory control in manufacturing company" is to be ordered for. Happy viewing!!!

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In this paper, we present a case study on the production planning and inventory system in a company manufacturing personal computer (PC) parts. In the case study, the targets are specified for developing a system for production planning and inventory control. The current state of the company is analysed for clarifying the points necessary to achieve the targets. Also, a system based on the analysis is proposed and its effects are estimated.

TABLE OF CONTENTS
Title page
Certification
Dedication
Acknowledgement
Abstract
Table of contents
CHAPTER ONE: INTRODUCTION

• Background of the study
• Statement of the problem
• Objectives of the study
• Significance of the study
• Research questions
• Statement of hypothesis
• Scope of the study
• Limitation of the study
• Definition of terms

CHAPTER THREE: RESEARCH METHODOLOGY

• Research methodology
• Historical background of the case study
• Population of the study
• Research design
• Sources of data
• Method of data analysis

CHAPTER FOUR: PRESENTATION, INTERPRETATION AND ANALYSIS OF DATA

• Introduction
• Data analysis
• Interpretation of results
• Testing of hypothesis

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

• Summary, conclusion and recommendation
• Summary
• Conclusion
• Recommendation

Reference
Appendix

CHAPTER ONE
1.0   INTRODUCTION
BACKGROUND TO THE STUDY
        Production is any unique process or procedure designed to transform a set of input elements into a specific set of out put elements. Input elements include land, labour capital and entrepreneurial ability while output elements are goods and services that satisfy human wants. Good and services are viable only if they provide satisfaction to the customers and the simple interior is the only general condition existence manufacture and distribution of goods. It can also be defined as the science and at concerned with the slow of materials in industry and commerce.
As a business function, production is primarily concerned with the transformation or conversion of input resources (raw materials) into finished goods. It can be said to be the relationship between factors of production (i.e. land, labour and capital) and a given output.
Planning is defined as the first and perhaps the most important function at management. The essence of planning events. Planning goes beyond attempting to attain dstated organization objective. It involves the development of strategy and procedure required for effective realization of the entire plan. The most basic function of the management functiosn is planning and it involves selection form among alternatives future causes of action for the enterprises as a whole. If production is well planned. Thus adding to the attainment of the whole organizational objectives, planning have finished the standard of control.
Inventory on the other hand is an important factor in the achievement of an organization overall objective. Inventory refers to any stock on items within the productin system or in the operation of the business. In operation management, inventory refers to resources that remain idlge in anticipation of satisfying a future demand for it. The state of processing one is likely to see in a factory but all the human resources maintained but not currently used by an organization in order to meet anticipated dimand for its product or services. According to Monk (1977) inventories are one of the major assets of most firms ranging from perhaps 25% to 75% of their current assets. This depends on firms or types of industry actually next of plants, buildings and equipment, inventories often from bulk of assets value of an organization, which requires large amount of investment and capital cost of maintenance.
Control is a process that guide activities towards some predetermined goals. Control is the managerial ability that helps to ensure acquisition and use of the enterprise resources and achievement of its objectives. It involves a comparison against some previously established standard and then taking corrective action when an unacceptable deviation occurs.
Production planning is the function of management concerned with deciding what production facilities are required, how these production facilities should be laid out in the space available for production and how they should be used to produce products. It will be seen that the function has two main parts. First, it is concern with routing or planning the sequence of work tasks that have to be carried out to complete products. And second, it is concerned with layout or planning the spatical relationship between the places were work is done.
Production planning inventory control functions in general include the planning itself, taking strategic decision areas relation to and setting up device(s) to check and direct any deviation that may want to occur during the process, large amount of investment and capital cost maintenance of the productive system, quality control, product objective and setting in motion of applicable corrective works as expected. All these will have to be put in place through careful production planning and inventory control.

1.1   STATEMENT OF THE PROBLEM
        It has been observed that majority of the manufacturing companies in nigeria do not carryout production planning and control more complex and this has made it difficult to achieve the expected result. These failures, which may be due to unavailability of fraud labour, shortage of raw materials, lack of managerial ability etc. will be research into.
Problems such as stock high capital tied on inventory damages and breakages, pilterage, stock out and buffer stock can be easily avoided when one effective and efficient inventory control system is in place.
No matter how prosperous a company may be inventory control and planning requires a professional expertise.

1.2   OBJECTIVE OF THE STUDY
        This study is being carried out to achieve the following objectives.

• To examine the problems that production department
• To analyze how effectively and efficiently the company utilizes the resources at its disposal.
• To analyze how inventory should be controlled in order to guide against stock out so as to meet production level.

Therefore all these will be examined so as to formulated the best model for the operation of manufacturing company in Nigeria with particular reference to TUYIL PHARMACEUTICAL INDUSTRY LIMITED, ILORIN

1.3   SIGNIFICANCE OF THE STUDY
        Upon the completion of the study, the benefits listed below are expected to be derived.

• The study will add to the research previously down these probe areas.
• To identify the challenges faced by production personnel in the course of manufacturing the desire output
• To achieve a smooth and economical operation of the production distribution system.
• The study will finally educate organization and the general public on the importance of production planning and inventory control.

1.4   SCOPE OF THE STUDY
        The research study will specifically focused on the production process ways in which the company manages its inventory system to enhanced continuity and all other activities involve in the conversion process till where finished products are stores in readiness for dispatch to customer.

1.5   DEFINITION OF TERMS
        This study is divided into five chapter control which the first chapter focused on the introductory aspect discussing relevant section such as statement of research problem, importance of the study, the objective and limitation of the study.
Chapter two focused on the review of relevant literature on the topic i.e it consider views  of diffeent authors on production planning and inventory control, role of inventory control, production system and its types and also reasons for carrying out inventory was looked into.
Inventory control method of cost of inventory is also elaborated. Also, different method of material sprcing are also discussed.

1.6                                                    PLAN OF THE STUDY
This project work is basically divided into five (5) chapters:
CHAPTER ONE: Takes on the introduction of the subject matter. If consists of the super significance and definition of terms of the study.
CHAPTER TWO: This is the literature review this entails the works that had been done on this particular topic which was done by other researchers.
CHAPTER THREE: Will talk about the Methodist that the researcher adopted in getting necessary materials or information that will facilitate the success of the research work.
CHAPTER FOUR: Explain how the researcher was able to analysis and present the data he got for his work while the chapter:
CHAPTER FIVE: Brings everything to conclusion the researcher does his summary and give necessary recommendation where needed.

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CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "production planning and inventory control in manufacturing company" is also available. Order full work to download. Chapter two of "production planning and inventory control in manufacturing company" consists of the literature review. In this chapter all the related work on "production planning and inventory control in manufacturing company" was reviewed.

CHAPTER THREE: The complete chapter three of "production planning and inventory control in manufacturing company" is available. Order full work to download. Chapter three of "production planning and inventory control in manufacturing company" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.

CHAPTER FOUR: The complete chapter four of "production planning and inventory control in manufacturing company" is available. Order full work to download. Chapter four of "production planning and inventory control in manufacturing company" consists of all the test conducted during the work and the result gotten after the whole work

CHAPTER FIVE: The complete chapter five of design and construction of a "production planning and inventory control in manufacturing company" is available. Order full work to download. Chapter five of "production planning and inventory control in manufacturing company" consist of conclusion, recommendation and references.

 

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