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Management In A Manufacturing Company
CHAPTER FOUR -- [Total Page(s) 14]
Page 13 of 14
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From the calculation in 4.9.1, total inventory cost of finished product using economic order quantity-EOQ model for mirinda orange drink is 873996.6
:.Cost saving (cv) = 12332313-873996.6= 359234.7
The above result implies that, the company could be saving about N359234 per annum on the inventory of mirinda orange drink if economics order quantity EOQ model is adopted.
The cost saving effect of economic order quantity-EOQ on inventory of finished products of Pepsi drink
A = 1160,200kg Q =p= 3940kg D = 1700 H = 0.15 S = 1820
T/C = 1,160,200/3940(1 820) +3940/2(3940) (3940-1700) (1000) (0.15) = 703929. From the calculation in 4.9.2, total inventory cost of finished product using economic order quantity-EOQ model for Pepsi drink is 6058292 cost saving (cv) = 703929.9-6058292 = 98100.7
The above result implies that the company could be saving about 98100.7 per annum on the inventory of pepsi drink if economic order quantity-EOQ model is adopted.
The cost saving effect of economic order quantity-EOQ on inventory of finished products of seven up drink
A = 1,185,000kg Q =p= 2850kg 0 = 1820 C = 1000 H = 0.15 S = 19600 = 1820
T/C= 1,185,000/2850 (1960)+( 2850 )/2(2850) (2850-1820)(1000)(0.15)
= 8921197.4
From the calculation in 4.93, total inventory cost of finished product using economic order quantity-EOQ model for seven up drink is 522362.11 cost saving (cv) = 892197.4-522362.11=369835.3
The above result means that, the company would be saving about N369835.3 per annum on the inventory of seven up drink if economic order quantity-EQO model is adopted.
The cost saving effect of economic order quantity-EOQ on inventory of finished products of Mirinda fruity drink
A = 850,000kg Q =p= 3140kg D = 324 C = 1000 H = 0.15
S = 920 182
T/C = 85000/3140(920) + 3140/2(3140) (3140-324) (1000) (0.15) = 460244.6
From the calculation in 4.9.4, total inventory cost of finished product using economic order quantity-EOQ model for Mirinda fruity drink is 754057.9 cost saving (cv) = 460244.6-754057.9 = 293813.3
The above result means that the company would be saving about N293813.3 per annum on the inventory of Mirinda fruity drink if economic order quantity-BOQ model is adopted.
The cost saving effect of economic order quantity-EOQ on
Inventory of finished products of Mountain dew drink
A = 1,00,000kg Q =p= 1249 D = 980 C = 1000 H = 0.15 S = 1200
T/C = 1,100,000/1249(1200) + (1249 )/2(1249) (1249-980) (1000) (0.15) = 1077020.5
From the calculation in 4.9.5, total inventory cost of finished product using economic order quantity-EOQ model for Mountain dew drink is 7646325 cost saving (cv) = 1077020.5-576463.25 = 1000557.25
The above result implies that the company could be saving about 1000557.25 per annum on the inventory of mountain dew drink if economic order quantity-EOQ model is adopted.
TIC = 2150,000 (2260) +4620(4620-2200X1 000) (0.15)
4620 2(4620)
TIC= i, ii, i .6-t-0 i420) (l000)(0.15) TIC =12332313
CHAPTER FOUR -- [Total Page(s) 14]
Page 13 of 14
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ABSRACT - [ Total Page(s): 1 ]WILL COME HERE SOON ... Continue reading---
LIST OF TABLES - [ Total Page(s): 1 ]LIST OF TABLE AND FIGURESFigure: 3.2. Corporate organization structure Table: 4.2 Material purchase and inventory cost for the year 2009 Table: 4.6 Production schedule and finished products inventory cost for the year 2009 ... Continue reading---
TABLE OF CONTENTS - [ Total Page(s): 1 ]TABLE OF CONTENTTitle page Certification Dedication Acknowledgment Table of contents List of table CHAPTER ONE1.1 Background of the study 1.2 Statement of research 1.3 Research objectives 1.4 Research question 1.5 Justification of study 1.6 Scope of the study 1.7 Historical background of the case study 1.8 Definitions of terms CHAPTER TWO LITERATURE REVIEW2.1 Concept of material management ... Continue reading---
CHAPTER ONE - [ Total Page(s): 3 ]CHAPTER ONEINTRODUCTION1.1 Background to the StudyAs a manager in a manufacturing company. It a more necessary than ever to improve tire overall productivity of lire operation ‘while such improvement requires an integrated dint involving all functional areas of the facility specific actions are requited within each functional area one of the functional areas in a manufacturing operation that is critical in the overall productivity of the company is material management The material ma ... Continue reading---
CHAPTER TWO - [ Total Page(s): 6 ]Price nut Carter (2005) further stressed that the stock controls system is responsible for the correct establishment of stock levels for every item held in the store when these levels are being established certain basic operational factors have to be considered and then reflected in the final stock figure. These as follows:i. Storage capacity: This is the amount that can be held will be restricted by the actual physical capacity of the stores. Operation in sonar cases where a special store ... Continue reading---
CHAPTER THREE - [ Total Page(s): 3 ]CHAPTER THREERESEARCH METHODOLOGY3.1 IntroductionThis chapter makes an attempt to present the general procedure needed to carryout this study. It includes brief description of some key pots of this research such as the brief history of the company (Seven up Bottling Plc. Ilorin plant), population, sample, method of data collection and sampling techniques.3.2 Corporate Organization StructureF.C Financial controverE.S.M Engineering Service ManagerC.O.O Chief opera ... Continue reading---
CHAPTER FIVE - [ Total Page(s): 2 ]CHAPTER FIVE SUMMARY OF FINDINGS CONCLUSIONS AND RECOMMENDATIONS5. 1 Summary of Findings Material management has been defined as the total of all those tasks, function activities and routines which concerns the transfer of external materials and service into the organization and the administration of the same until they are consumed or used in the process of production operation or sales. After the analysis and interpretation in chapter four, evidence has s ... Continue reading---
REFRENCES - [ Total Page(s): 1 ]REFERENCESMenlizer, W Keebler (2001) Business journal logistics Page 1-26,Bailey, and Farmer (2006) Purchasing principle and management 9th EditionTrans-Altantic publication onlineTooley, D.F (2001) Production control system and record 2nd Edition: London Gower pressRogger (2004) Management 3 Edition London, M&E handbook series, pitman.Orleckey J. (2000) Material requirement planning New York Mc Graw4lill on lineLyson (2006) Purchasing and supply chain. 7th Edition prentice hall onlineLancastcr. ... Continue reading---
