OPTIMIZING A-B-C INVENTORY MANAGEMENT SYSTEM FOR RESOURCE ALLOCATION IN THE PLASTIC MANUFACTURING INDUSTRY: A STUDY OF INNOSON TECHNICAL AND INDUSTRIAL COMPANY, ENUGU.

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dc.contributor.author EWANS, CHUKWUMA
dc.date.accessioned 2022-02-19T18:52:37Z
dc.date.available 2022-02-19T18:52:37Z
dc.date.issued 2014-10-15
dc.identifier.uri http://ir.ebsu.edu.ng:8080/xmlui/handle/123456789/229
dc.description BEING A DISSERTATION SUBMITTED TO THE DEPARTMENT OF BUSINESS MANAGEMENT, FACULTY OF MANAGEMENT SCIENCES, EBONYI STATE UNIVERSITY, ABAKALIKI; IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTERS DEGREE (M.Sc) IN BUSINESS MANAGEMENT. en_US
dc.description.abstract The study focused on optimizing and classifying A-B-C Inventory Management System for Copolymer, Homoplymer, Filler and Colour Inventory Allocation with a focus on Innoson Technical and Industrial Company Limited, Emene, Enugu. The objective of the study was to optimize cost and technical efficiencies of the inventory materials, and production of Honour chairs, respectively. Discrete and estimated total carrying and ordering cost functions of the inventory materials were generated. Reorder points of the inventory materials were also determined with respect to time or production run. The study employed a statistical design with secondary production and cost data. The functions were estimated based on Ordinary Least Square (OLS) as the best linear unbiased estimator. The findings showed that the discrete Economic Order Quantity (EOQ) of Copolymer, Homoplymer, Filler and Colour were 61,212.24kg, 78,836.31kg, 502,891kg and 40,353.29kg, respectively. By optimality condition, in contrast, the EOQs were 2,704.90kg, 25,058.20kg, 1,022.11kg and 1,661.81kg, respectively. Reorder points were calculated 18,793.75kg, 18,716.06kg, 7,408.94kg and 4,834.38kg levels, respectively. In terms of A-B-C rule under optimality condition, Filler was ranked highest, followed by Colour, Copolymer, and Homoplymer in that order. Under technical efficiency, Copolymer was ranked highest followed by Homoplymer, Filler and Colour in that order. The implication of these findings is that the discrete method overestimates “optimal” inventory value, whereas the optimality approach yields realistic levels of EOQ. The study concluded that the optimality approach is the best strategy to achieve the EOQ as it minimizes most the total cost of inventory relative to the discrete method. The study recommended that Innoson Technical and Industrial Company should adopt the optimality criterion so that their total cost of inventory is minimized. en_US
dc.description.sponsorship EBSU en_US
dc.publisher EBSU REPOSITORY OFFICE en_US
dc.relation.ispartofseries EBSU/PG/M.Sc/10/ 05207;
dc.title OPTIMIZING A-B-C INVENTORY MANAGEMENT SYSTEM FOR RESOURCE ALLOCATION IN THE PLASTIC MANUFACTURING INDUSTRY: A STUDY OF INNOSON TECHNICAL AND INDUSTRIAL COMPANY, ENUGU. en_US
dc.title.alternative OPTIMIZING A-B-C INVENTORY MANAGEMENT SYSTEM FOR RESOURCE ALLOCATION IN THE PLASTIC MANUFACTURING INDUSTRY: A STUDY OF INNOSON TECHNICAL AND INDUSTRIAL COMPANY, ENUGU. en_US
dc.type Thesis en_US


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