Need For Efficient Inventory Control System In Service Oriented Organization

The main aim of embarking on this project is to know the need for efficient inventory control system in service oriented organization at the associated Bus Company Head Office at Umuoba Uratta in Imo State.
This study attempts finding out whether the company practice or applies the system of inventory control effectively. It also sees to the functions and systems applied in carrying out the inventory control work so as to maintain continuity of material inflow and outflow in the storehouse.
As generally known, inventory is an American language while stock is a British word but all mean the same.
From the review of related literature inventory control is the means by which materials of the correct quantity and quality is made available as and when required with due regard to economy in storage and ordering cost, purchase price and working capital.
The researcher review the related literature which centers on inventory control, the role of material management in business organization, types of inventory control system the stores managers responsibility in relation to materials storage, the stock record system, reasons for keeping stock record, method of stock record, material deterioration, stock discrepancy, obsolescence of material, inventory control techniques etc. information in the accomplishment of the research work are all expressed.