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Effective Purchasing Planning As A Cost Reduction Tool In The Manufacturing Industry
[A CASE STUDY OF NIGERIAN BREWERIES PLC IKEJA LAGOS]
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1.7 DEFINITION OF TERMS.
RESEARCH: The act of investigating to get facts about something from variety of sources.
2. RESEARCH: The individual also undertake to carryout investigation to discover facts about something from many sources.
3
EXPEDITING:- The process of evaluating that goods ordered by the
buyer and delivered at the required time to the correct place as
promised by the suppliers.
4. EVALUATION: - Evaluation in
purchasing is required to ensure that progress is being made toward
objectives, according to plan of evaluation is part the control
process.
5. PURCHASING REQUISITION: This document contain all the
necessary information about the item or goods needed by the user
department before being sent to the purchasing department.
6. INSPECTION: - This is the process of ascertain whether or not the goods delivered are of specified quality, quantity etc.
7. ENQUIRY: - Tin's is an invitation to suppliers requesting him to submit price of goods and services.
8.
BONDED STORES :- Bonded stores could be described or is used to
describe goods held in a special store house on a separate exclusive
within store house awaiting clearance by the inspection personnel
9.
STOCK CONTROL: - Tin's 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 cost and ordering costs purchase price and
working capital.
10. OBSOLESCENT: - An items said to be obsolescent when it is getting out of use but is not yet completely unusable.
11. OBSOLETE: - An item is regarded as absolute when it is no longer in use i.e completely out of use.
12.
REDUNDANT; - When the quantity of an item in store is more than
reasonably necessary to provide an adequate service to the production or
operational activity, the excess over the normal holding is said to be
redundant.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTThe theme of study is “effective of purchase planning as a cost reduction tool in the manufacturing industry (A case study of Nigeria breweries plc ikeja Lagos) who main objective are two make an effective and efficiency patronization to acquires the improvement of Nigeria economy. This research is limited as a result of time constraint, financial and cost of gathering materials to be need in the project.This research project is divided into five chapters for case presentatio ... Continue reading---
