THE ROLE OF INVENTORY MANAGEMENT ON CUSTOMER SATISFACTION IN A MANUFACTURING COMPANY. (A CASE STUDY OF ANAMBRA MOTOR MANUFACTURING COMPANY ENUGU) (ANAMCO)

ABSTRACT
This research work deals with the role of inventory management on customer satisfaction in a manufacturing company using Anambra motor manufacturing company as case study. The data used in the development of this project work were collected from various levels of management in the company, through the use of questionnaire, oral interview which are auxiliary to the questionnaire and helps to explain certain technical questions to the respondents so that they will not disagree in their response from the main objective of the questions. The  study applied a case study research design because only one entity was being studied with the ultimate aim of gathering data from the respondents on the role of inventory management on customer satisfaction.

A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF POSTGRADUATE DIPLOMA (PGD) IN ACCOUNTING

SCHOOL OF POSTGRADUATE STUDIES 
LIST OF FIGURES
2.5 Inventory valuation method fig fifo table                                                     30
            List of  tables fig (2)                                                                                 31
            Economic order quantity fig (4)                                                                36
            Purchase Requisition form fig 5                                                                39
            Goods Received note CR fig 6                                                                   40
            Goods inspection Report fig 7                                                                   40       
            Bin Card fig 8                                                                                             41
            Yaro-yamani formula fig 9                                                                         51
            Bowley proportion Allocation formula fig                                              52       
            Chi-square formula fig 11                                                                          58


LIST OF TABLES
Table 3-4-1 sample size determination                                                                51       
Table 3-4-2 distribution of questionnaire                                                            53
Table 4-1.1 Total number of questionnaire distributed and collected  60     
Table 4.1.2 personal data of respondents                                               62
Table 4.1.3 effectiveness and efficiency the questionnaire                  63
Table  4.1.4 Analysis on  question  4                                                                    65
Table 4.1.5 Analysis on question 5                                                                       66
Table 4.1.6 Analysis on question 10                                                                     67
Table  4-1-7 Analysis on question 11                                                                   68
Table 4-1-8 Analysis on question 14                                                                    69
Table  4-1-9 Analysis on question 15                                                                   70
Table 4-1-10 Analysis on question 12                                                                 71
Table 4-1-11 Analysis on question 8                                                                    72
Table 4-1-12 Analysis on question                                                                       73
Table 4-2-13a testing hypothesis I                                                                        74
Table 4-2-13b observed and expected frequencies in hypothesis  I. 75
Table 4-2-14a testing hypothesis II                                                                       77       
Table  4-2-14b  Observed expected frequencies hypothesis II            77
Table 4-2-15a Testing hypothesis III                                                                    78
Table  4-2-15b Observed and expected frequencies hypothesis III   80


TABLE OF CONTENT
Title page                                                                                                                   i
Declaration                                                                                                               ii
Certification                                                                                                              iii
Dedication                                                                                                                 iv
Acknowledgement                                                                                                   v
Abstract                                                                                                                     vi
List offigures                                                                                                            vii
List of Tables                                                                                                            viii
Table of content                                                                                                       ix
CHAPTER ONE
1.0             Introduction                                                                                                  1
1.1 Background of the Study                                                                                  1
1.2 Statement of the Problems                                                                               3
1.3 Objectives of the                                                                                               4
1.4 Research questions                                                                                           5
1.5 Statement of hypothesis                                                                                   6
1.6 Significance of the study                                                                                  6
1.7 The limitation and delimitation of study                                                       7
1.8 Definition of terms                                                                                            8
CHAPTER TWO
2.0 Review of related literature                                                                             10
2.1Theoretical framework                                                                                      10
2.2.1 Assimilation Theory                                                                                      11
2.2.2 Empirical Review of variables                                                                     11
2.2.3 Inventory management                                                                                  11
2.2.4 Customer Satisfaction                                                                                   15
2.3 Need for inventory management and control                                               20
2.4 Inventory control system                                                                                 24       
2.5 Inventory control methods                                                                               26
2.6  Inventory cost and decision model                                                                33
2.6.2 Inventory Decision Model                                                                            35
2.6.3 Economic Order Quantity (EOQ)                                                                35
2.6.4 Purchase Production                                                                                      38
2.6.5 Procedure for Receipt and issue of inventories                            39
2.7 Inventory Management in a manufacturing company                     42
CHAPTER THREE
 3.0 Research methodology                                                                                                50
3.1 Research Design                                                                                                            50
3.2 Research Population                                                                                         50
3.3 Sample Size Determination                                                                              51
3.4 Sources of Data                                                                                                  53
3.4.1 primary and secondary data                                                             54
3.4.2 Secondary Data                                                                                  54
3.5 Collection of Data                                                                                 54
3.6 Validity and reliability research instruments                                               55
3.6.1 Interview                                                                                              55
3.6.2 Design and Administration of Questionnaires                              56
3.6.3 Data Analysis techniques                                                                 57
CHAPTER FOUR
4.0 Data presentation, Analysis and Interpretation                                60
CHAPTER FIVE
5.0 Discussion of findings                                                                                      82
5.1 Pilferage Reduction                                                                                           82
5.1.2 Eliminates idle  working capital                                                                  83
5.1.3 Reduction on cost of production                                                                 83
5.2.0 Summary                                                                                                                      84
CHAPTER SIX
6.0 Recommendation and conclusion                                                                   85
6.1 Recommendation                                                                                                           85
6.2 Conclusion                                                                                                                     86
Questionnaires                                                                                                                     88
References                                                                                                                91



REFERENCES

“Advantages of inventory management software” Author stream P. 7 Retrieved 23 Nov. 2012.


Agarwal V. (2007) “Contemporary issues in supply chain Management” A case study of msrico  inclusive, supply chain management. New century publication. New Delhi.

Allen, D.R and Willburm, M (2002). “Linking customer and Employee satisfaction to the Bottomine”. A comprehensive Guide to Establishing the impact of customer and Employee satisfaction on critical Business out comes. ASQ Quality press. USA.

Berling. P. (2011). “A characterization of optimal Base-stock levels for a continuous stage  serial supply chain”. IESE Business school university  of Navara.

Brewer, P.C. and speh, T.W. (2000)  using the Balanced score card to measure supply chain performance Journal of Business logistics (12), 78-80 cachon, G. and Terwiesch, (2006), “matching supply with Demand” An introduction to operations management. mc Graw-Hill. New York. cacroppo, K (2000), meaning  and managing customer satisfaction” Quality Digest.

Brooame, Jr, J. Tol (June, 1999). The Benefits of smart inventory Management software”. CBS Interactive.

Camacho, E.F. and Bordons, C. 2002, model predictive control springer-verlag London limited.

Capacity Building workshop on public procurement and inventory management (2008). Global purchasing and supply Tutorial college. Pg. 26.

Cecil Bozarth and Robert Hand ifield, “Introduction to operations and supply chain management” prentice-Hall, 2006 ISBN 0139446206.

Chirstopher, M (2008). “Logistics and supply chain management” vol 4 financial times prentice Hal. Great Britain colburn, R (2013) “Determining the   Effect of Return management Experience on customer satisfaction”, university of Tennessee Honors thesis project copco, A (2013).
Cole G.A (2000). Management Theory and practice. 5th Ed. British publishers Pg. 236.

Customization”, IEEE Transaction on Automatic and Engineering 4 (3), 169-174.

Debasie, colleen (Aug. 10, 2010) “Technology Basics for Business.” The wall street journal complete small Business Guidebook.

“Debunking the Top Eight Myths surrounding small-Business warehouse management system” High. Jump. Software may, 2008.

Desmarais, Chistina (24 May, 2011) “Choosing the Best inventory Tracking software” inc. Retrieved 23 Nov. 2012.

Dolinsky, Anton. “Inventory Management History Part four” Almyta systems. Retrieved Aug. 17, 2010.

Eckert S.G. (2007), “Inventory management and its Effects on customer satisfaction, Journal of Business and public policy (1), 1-2 management (29), 477-449. Inventory management in an Agro-Allied industry:A case study of coca processing plant in knights, M (2008) managing stocks levels: Materials management and inventory control kethari, C.R. (2006).

Hennet, J.C. 2003. A bimodal scheme for multi-stage production and inventory control in Automatica-vol 39, pp. 793-805.

Hill T, production/ operations management prentice Hall, 1991 Pg.  5.

ICAN (2006) cost Accounting study pack for intermediate. Lagos vi publishers

Informatics in control, Automation and probotics I 2006, pp 111-116.

Inventory control systems’ Reference for Business, Encyclopedia of Business, 2nd ed.

Inventory management models: A tutorial published on: Jan, 30, 2011. By cecil Bozarth, PhD

Inventory management models: A tutorial SCM. 30 Jan 2011.

Inventory management Non-classical views mohamad Y. Jaber-2009-242
“Inventory control systems’ Clockwork Accounting. Retrieved Aug. 17 2010.

“Inventory management software” EGA future. Retrieved 23 Nov. 2012

“Inventory software” Webopedia Retrieved 23 Nov. 2012.

K, Scholasticus (May 26, 2010) “Inventory Management Techniques”. Buzzle. Com.
Kirk Patrick, E.M (1985) Chambers learners Dictionary Ibadan: Spectrum  books Ltd. 

Koivisto, H. Kimpimaki, p. Kovio H, 1991 Neural predictive control- a case study in 1991 IEEE International symposium on intelligent control IEEE press.

Lambert, E.P, 1987 process control Applications of long Range prediction. PhD thesis, university of Oxford trimly.

Lesonsky, Rieva (1998). Tracking inventory Entrepreneur Magazine.

Lockard, Robert (29 Nov 2010) “3 “Advantages of using inventory management software”. Inventory system software Blog. Retrieved 23 Nov. 2012.

Lucey, T (1991), management information system, 6th Ed. Publications.

Lucey, T. (1992). Quantitative Techniques, 4th ed. PD publications.

Luin, J.V. et al (2006) “Learing inventory management strategies for commodity supply chains with customer satisfaction” retrieved on 19th July 2013 from: Bhausaheb, A.N and Routroy, S. (2010), “Evahation of inventory performance for perishable products. Through simulation. “Journal of operations management (9), 71-72.

Macie Jowski, J. M, 2002. Pr├ędictive control with contraints-pearson Education ltd.

Moskowitz. Robert. “ Using your computer for inventory control”. Accrision Retrieved Aug. 17, 2010.

Nweze A.U. (2004), profit planning: A Quantitative Approach 2nd Ed. Enugu.

Okoye Pius V.C. (1999) cost and management Accounting. Basic concepts, application and issues. The ABC Approach. Snap press Ltd. Awka-Anambra.

Piasecki, Dave “optimizing Economic order quantity carrying costs”. Inventoryops. Com. Retrieved Aug. 17, 2010.

Polsson, ken. “Chronology of Personal computers- 1981” Polsson’s  web world.

“Production and inventory management” by A.C. Hax and D. Candea   

Rivera, D.E, Braun, M.W. Flores, M.E, Carlyie, W.M. Kempt, K.G., 2003. A model predictive control framework for robust management of multi-product, multi-eclelon demand networks. In  Annual reviews in control, vol. 27, pp 229-245.

Shafie, S. (2004). The Effectiveness of nendire managed inventory (VMI) Towards. Improving supply chain management.

Singh, Sujit.  “Inventory Management Software » cutwater solutions. Retrieved Dec. 27, 2013.

Supply chain management Basics: SCM Basics Tariffs and Tax prime NAICS Narigator.

Towill, D.R, 1996. Industrial dynamics modeling of  supply chains. In international journal of physical distribution & logistics management, vol 26, No2. Pp 23-42.

Tzafestas, . Kapstiotis, O. kyriannakis, E, 1997 modelba sed predictive control for generalized production problems. In computers in industry, vol. 34, pp 201-210.

Uguru L.C (2010) Cost and management accounting I. Pg 89.

Ydstie, B.E. Grossman, I.E, perea lopez, E, 2003, A model predictive control strategy for supply chain optimization. In computers and chemical Engineering vol. 27.pp 1202- 1218.
 

THIS IS A SAMPLE | WE ARE PROFESSIONALS IN WRITING



Click on the related links below and read more.
We can keep you updated on this information, please Subscribe for Free by entering your email address in the space provided.

Do you like this article? Share this article
Follows us on Google Plus Facebook & Twitter
Share on Google Plus

Declaimer - MARTINS LIBRARY

NB: Join our Social Media Network on Google Plus | Facebook | Twitter | Linkedin