Fraud Detections, Preventions and Management in Stores/Warehouses in an Emerging Economy

This paper work is centered on fraud detections, preventions and management in a store/warehouse in an emerging economy and it can be revealed that fraud and related misconduct involves a willful or deliberate act with intention of obtaining an unauthorized benefit. The stores in most organization in are which all kinds of materials needed for function is therefore basically concerned with holding stocks. The finding revealed that theft of that, entry to warehouse and storage are should be controlled through a single door/gate and no unauthorized person should be allowed inside the warehouse/storage area, and key of all warehouse/storage areas should kept in safe custody under the control of the store manager, stores, it is paramount that all items having a shelf-life must be tagged indicating data or receipt and expiry data

Practical Procurement Skill, Theory and Techniques

Over the past four decades, purchasing and supply management has evolved from a clerical function in the 1960s, through being an operational activity in the 1980s to the strategic nature in the 1990s (Gelderman and Van Wells, 2005; Spekman et al, 1994; Kraljic 1993). While several organizations have transformed their purchasing and supply capabilities into competitive advantage, other are still lagging behind. Today, proactive firms are expected to control their purchasing operations ion an effort to build competitive advantage (Carr and Smeltzer, 1997). In spite of the fact that purchasing has gained recognition amongst companies in the developed countries; the reverse is the case however in the developing countries (Msimangira, 2003). Specifically, African scholars have focused more on investigating according to Van Weel (2000) procurement refers to all the activities in a firm that involves getting a product or Purchasing and supply –also known in procurement-may appear to be a ‘hidden’ function in many organizations. In fact, procurement is a highly strategic role, whether the organization is manufacturing or service-oriented, in the public of private sector, for profit or not. Procurement is complex. It covers the full supply chain from contracts (negotiating), procurement (purchasing) and logistics (storage/distributions). Procurement will lose its value when it is not proactive and the driver does not have what it takes to make more effective and lively in terms of skills and techniques

Significance of Material Planning, Production Control in Actualization of Organization Aims and Objectives

The paper aims at evaluating the significance of material planning, production control in actualization of organization. Materials required for nay operation are based on the sale forecasts and production plans. Planning and Control is dome for the materials talking into account the materials not available for the operation and those in hand or in pipe line. It involves the task of making decision about what materials to purchase, when to purchase, how much to purchase and the best method of purchasing that should be adopted by the organization.The production estimating the individual requirement of parts, preparing materials budget, forecasting the level of inventories, scheduling the orders and monitoring the performance in relation to production and sales.The production control is also an important ingredient in the manufacturing flow process, the objective is to keep customers satisfied through meeting the delivery date at when due. Customer satisfactions should be a priority for any successful organization, satisfy customers in terms of quality and quantity of the order. In achieving this, there is need for proper establishment of routes and schedules for work that will ensure the optimum utilization of materials, workers, and machines and to provide means for ensuring operation in accordance with the plans.The paper revealed that any organization without adequate materials planning and control will lose its market shares, loss of customers, and may eventually die. This emphasizes the need for organization to pay a serious attention to how materials are being consumed in production process, adequate plan to be kept for optimum inventory level. Since the cost of inventory alone represent a huge amount of the total organization working capital.It is therefore imperative that organization should wary of the consequence it may cause if adequate plans were not made. An attempt to evaluate critically the topic in question was the primary purpose of this paper

Integrated Inventory Management Key to Organizational Profitability and Efficient Delivery

Inventory can be one of the most expensive assets of an organization. It may account for than 10% of total revenue or 20% of total assets for some organization. Although companies in the manufacturing sector usually carry more inventory than service firms, effective inventory management is nonetheless important to both manufactures and service organization. The focus of this work is to show the integration of inventory management as a key to organizational profitability and efficient delivery. The definitions of inventory as a lifeblood of any business, the need for inventory and its control, determining safety stock and some other relevant issues on inventory management had been emphasized in this work. Various authors, experts and professionals work has been cited reviewed for better understanding. Among them are:- David Burt et al (8th) edition: Supply management, A.K Datta (2nd edition) Materials Management, Joel D. Wisner et al (2nd edition) principles of supply chain and some relevant authors on Inventory Management which has been cited at the back of this work

Procurement Functons as Tools for Entrepreneurial Successby

Abstract: This paper work was carried out on procurement functions as a tools for entrepreneurial success and the works discuss extensively on entrepreneur as a concept and the procurement function which includes all activities in purchasing were also explained, the researcher discovered during the course of written this paper that procurement as a function have a lot to do when it comes to business survival not only in Nigeria but throughout the world, because the primary aim of purchasing is to achieve the five rights in which is a business organization can get right, the whole activities will not be only productive but profit maximization which is the primary goal of all business establishment will definitely be achieved