The Importance Of Inventory Management In Small Scale Enterprises
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CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Most business organisation that makes investment that will make them to achieve their corporate objectives, these investment are typically in land, building, machinery, stocks of various types, debtors and cash when organisation are assessing investment project account must be taken not only on the investment in a mom durabh (fixed) assets but in the current assets as will. Current assets are these that will not remain permanerntly in a company of which stock inventory is our will be linked up with its performance not to put too times a point in the organisation efficiency. Basically inventory (stock) falls under three broad categories.
- Raw materials, which are the item, the company holds ready for use in the production process reguired.
- Work-in- progress, these are particularly manufactured product of manufacturing industry
- The finished good, which are the goods a stock which are the goods or stock which are ready for sales by the organization, for the benefit of this research work, we shall be concerned with the position or benefit of industry control in manufacturing. One should not that when controlling inventory, one should let share holders maximization to be in consonance with the times goals. When inventory control is imbalanced there should be stock which, could lead to reduction of sales and which can lead to lose of customer to another competitors.
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