INVENTORY MANAGEMENT AND CONTROL SYSTEM

INVENTORY MANAGEMENT AND CONTROL SYSTEM

(A CASE STUDY OF LOREMM HOTEL NASSARAWA, NASSARAWA LOCAL GOVERNMENT)

Abstract

Inventory management and control system is a tool used in the store department to manage its inventory by the store officers together with other detailed list. Information is stored for maintenance purpose in order to effect administration and decision making in the store department. This project shows the type of goods available, how they are purchased, and the method of ordering, how they are maintained in the central store of loremm suite and fitness center Nassarawa.

CHAPTER ONE

1.0 INTRODUCTION

The need for “inventory management and control system” in LOREMM HOTEL cannot be over emphasized.

Firstly, it is necessary to know what an inventory management is all about. The inventory control system can be described as the utility equipments, drugs, furniture and other equipment used in an office. The inventory management system is designed in order to control the products by keeping them in a good place with adequate maintenance. Hence in the LOREMM hotel as the case may be, the management is concerned with entry of stock into store sections. That is, the way they are collected, ordered and how it is distributed to various departments and sections each according to what is needed at that particular time while other stock is still being ordered into the store. At this particular time it is necessary to carry out maintenance in other to control the stock within the department store, therefore the topic “inventory management and control system” is a way of making work (things) easy, faster and accurate etc because the use of computer is called upon, the need to appreciate the new trend in information technology is very necessary.

1.1 BACKGROUND OF THE STUDY

The need for inventory management and control system is any organization/ institution has been considered from the fact that there is a need for management system in terms of resources allocation along side with booking of rooms of users. In other words the uses of computer system, is help reduces total dependability on the manual stuff and above all, it produces a machine oriented and error free process. This new development could be seen a welcome idea since the keeping of records of such inventories in terms of ordered, collection and distribution on daily basis are kept considering the aforesaid. It is all about implementation that inventory management and control system will then increase the effectiveness efficiency and distribution of daily records keeping of stock room.

1.2 STATEMENT OF PROBLEM

Manual system is the current method/system used in LOREM HOTEl Nasarawa. This implies that everything has been done with hard labour in terms of carrying out so many activities such as equipment Furniture and fittings general maintenance and rehabilitation in the HOTEL department/sections as a whole. The department management is faced with following problems.

i. Time consumption
ii. Illegal access by unauthorized users
iii. Inaccurate keeping of events records
iv. Error in keeping of information(records)
v. The use of computer in dairying out duties/function is not in use (not important) since the establishment of LOREMM HOTEL.

1.3 AIMS AND OBJECTIVES OF THE STUDY

The aim and objective of this study is to develop a software package that will maintain a system which will manage the event and the total cost to the hotel. They are as follow:-

i. To facilitate decision making

ii. To know the total stock allocated to various sections of the hotel at a particular given period of time.

iii. To ease the hotel department and sections on its effort to carry out maintenance and rehabilitation of the hotel assets.

iv. Proper documentation of staff records and supply orders to various sections and to the other departments of the hotel

v. The period between orders to secure and keep appropriate control of the hotel assets is to go by online system.

1.4 SIGNIFICATION OF THE STUDY

It is believed that after the completion of study, a lot will be achieved and the following benefits shall be deduced. To achieve the below mention benefits, the staff will know the proper channel (medium) used in gathering items that are needed from the store which will also trigger the management to give more priority attention and a listening in setting up an inventory management and control system. The benefit includes:

i. The staff will be relieved of manual recording system

ii. The use of inventory management control system will be faster and easy for jobs to be executed

iii. The HOTEL management will be poised to know the total assets available.

iv. This will also help in minimizing fraud.

1.5 SCOPE/LIMITATION OF THE STUDY

Most of the research work is faced or confronted with a gigantic number of problems and therefore the following problems were encountered. There is no available past record to lay hand. If there is the time given to worker for use as a guide is too short. Hence the available one’s are not enough to get any from the HOTEL library in Nasarawa. Finally the cost of materials needed for this study contributed immensely in limiting and set back of the study.

1.6 RESEARCH METHODOLOGY

This research or study in particular makes use of questionnaire which was dim necessary to collect data and information that can be used in the manipulation of a computer program in respect to inventory management and control system and any other organization in need.

The questionnaire was well designed and structured to explain the information that was brought to encourage it disclosure more so, the observation method of data capturing or collection is also carefully examined and observed the problems and a possible solution to it. Oral interview (face to face) communication between the researcher and respondent and other information where involved.

1.7 DEFINITION OF TERMS

Inventory: This is the collection of useful and valuable items as a field used in the process of production. The production involved the creation of utilities in satisifying human want. These goods could be consumed in the production of other goods so as to make it available for use.

Inventory cost: This is the measurer of the value of input in the acquisition of materials in the present condition and location.

System code: This is the period of time between the ordering and replenishment of inventory.

Management: Is the act of running and controlling a business or an organization.

Internal control: This is the whole system of control (ie financial or otherwise established by enterprises in an orderly manner).

Maximum stock: This is the level used as an indicator, which indicates what stock is too high.

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