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Topic: EFFECT OF INVENTORY PLANNING AND CONTROL ON A FIRM’S PROFITABILITY

Chapter One

INTRODUCTION

1.1 Background of the Study

1.2 Statement of Problem

Empirical research has shown that the study of inventory control or administration started late, unlike the study of other fields of human endeavour. Every year firms prepare and implements one type of economic policies/budget or another whereby a large sum of money is spent on acquisition of materials without adequate planning and control. At the same time, the main objective of business is profit making. But the inability of a firm to achieve profit is a signal that something is wrong somewhere. The profit level of any firm depends on its level of cost, which cost of inventory is a part of. Increasing operation cost and low profit level derives from keeping excess inventory as well as shortages from under stocking. It is against this backdrop that the researcher attempts to examine the effects of inventory planning and control on firm’s profitability.

1.3 Aim and Objectives of the Study

The overall objective of this research project is to examine the effects of inventory planning and control on firm’s profitability. In other to achieve this objective, the researcher intends to: Determine the Economic Order Quantity of Nigerian Brewery Company. The effectiveness and efficiency of inventory control policy Examine the relationship between inventory level and its profitability.

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How Do I Choose a Project Topic?

Choosing a project research topic has been one of the major challenges for final year student in tertiary institution. However the following guide line will be of assistance to students.

1. Brainstorm within a particular field of idea and write down possible challenges.
2. Study other materials that are much related to your ideas and their background information.
3. Choose a topic that you understand and avoid big vocabulary.
4. Define your idea as a focused project research topic.
5. Be certain of your research materials and be flexible.
6. Make sure you study and research more about on your project topic.
7. Come up with a thesis statement.
8. Avoid plagiarism.

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How can I write my project abstract correctly?

Aside writing your abstract following the above guideline, here are other mechanical notes you need to take.

1. Start by introducing the actual issue your research seeks to understudy in simple or compound sentence.
2. The next sentence or two should explain how you set out to accomplish this ( the research methods, sample techniques, instrument for data gathering, population of study, sample size and the likes).
3. State clearly the research outcome in one, two or three sentences ( a generalized statement is often required).
4. State in one or two sentences, the recommendations you �did like to give.
5. Abstracts are often presented in �times new roman� font except otherwise stated.
6. No spacing except otherwise stated.
7. Use Times New Roman, Font-size = �12� Also note that is One paragraph
8. No citation or quote.

How do I decide the best area to choose my final year project topic from?

You have your �Achilles heel� in your field of study, so do you have your �selling point�. Now in choosing your final year project topic, never choose from your weak areas; you will certainly fumble. Choose from your favorite area and by the way, some of these nuggets can be helpful too;

1. Check your grades again and know the areas you are competent enough.
2. Question your personal capabilities as it relates to your field of study.
3. What career path do you wish to tour?

By answering these questions to yourself, the picture of your best area becomes clearer making it a good and easy start.

I just got my project topic approved, how do I start writing?

Once your final year project topic is approved, the first thing you are expected to do is to; Start with the introduction: Introducing your research idea requires you to give a comprehensive and elaborate overview of the idea, issue, situation or need that has prompted your research. This implies giving a background history of how it all started, including quotes of the person�s involved or one that agrees with your argument. When that is done, you set the ball rolling by giving specific reasons and what you want to accomplish at the end of the research.

Follow these steps

1. Background of the study (comprehensive overview).
2. Statement of the problem (stating the specific reason you chose to research on the topic you have chosen).
3. Objectives of the study (specific goals you want to accomplish at the end of the research).
4. Research questions (turning your objectives into interrogative forms).
5. Definition of terms (defining the major terms or words you will use consistently throughout the research, the way it will be applied in the research context).

By the time you are done with this, you would have almost rounded off your project chapter one.

What are the sources of research problems?

Here is mostly how research problems are coined; only a handful of research problems are entirely new, the rest ate either a rehash of what has already existed or an excerpt from it.

1. Recommendations for further research (often stated at the end of a previous research).
2. An enquiry into the causes and effects of reoccurring events (often bad ones).
3. Seeking to find solution to an existing problem.
4. Seeking to enquire into the pattern of occurrence of events.

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