Need For Effective Stores Security In An Organization
This project is made up of five chapters which contains different information about the project. The need for effective stores security in an organization. The importance of stores security was examined with the aim of profitability towards the organizational industries. To carry out research work, a total of one hundred (100) industrial buyers were used as sample which was drawn Iko Ekpene/Aba express road, Ikot ekpene, Akwa Ibom state.
To gather date, personal interview and two sets of questionnaires were used one of industrial user and the other or staff. In the analysis of the results, percentage was used while chi-square technique is adopted in testing at 5% level of significance.
The following were tested. The need for effective stores security improves the industry.
Role of stores security plan an important part of impact for the promotion of product apart from its traditional role of protection. Furthermore, chapter one if this project contains introduction, chapter two contains literature review which said every thing about the project and research. Chapter three involves research methodology and all the data processing involved. While chapter four contains presentation analysis and interpretation of the research project and lastly, chapter five talks about the summary, conclusion, implication and the recommendations.
1.1 Background Of The Study
Security has been identified as one the most important activities carried out in any organization. This is because material is the life blood of an industry. Materials constitute money and has been bought to meet certain needs, in order to ensure that these materials meet the needs for which they were brought and to avoid unnecessary cash loss arising from losing of material due to ineffective security which therefore, affects the profit margin of the organization. With this development, every organization has realized the need to invest insecurity. This is for any profit oriented organization.
Security is one of the most important aspect of store management. Security of stores in a broad sense covers not only theft and fraud but it extends to areas of stock deterioration, damage, location and special storage requirements. Organizations may decide to seek the service of professionals security outfit that supply a trained team of security guards and other personnel to guard against theft. Alternatively, organization may put the responsibility of store security on individual, stock-keeper or manager for the individual stock charge. As a result of this, most organization only rely on them to control store security.
Stores security and safety is one of the important areas of concern in stores management as a result of the need to protect the company’ huge investment in stock.
All goods must have value to a company else they should not have been in stock.
According to Morrison (1967:9) “If stock is to be adequately safe-guarded, it must be properly located in secure buildings or stock yards to which unauthorized persons are not allowed to access arrangements must be made for the custody of store house keys and security precautions exercised during non-working hours to ensure maximum security”.
Data (1986:17) states that “materials must be properly safeguarded and kept under proper security and vigilance”.
However, he recommended that the effort, time and expenditure of money should be proportionate and relative to the importance of the materials and that cost of security must be commensurate with the benefit which may occur firm security measures.
The role of store security is very important which according to Carter and Price (1993:101) reflect both the value of stock and its operational role within the organization.
They added that stock record becomes meaningless as a means of stock control if stock is lost and not recorded. The calculated level of stock indicated by the stock card with bear no resemblance to the actual stokehold. Production operation will highly be hampered if the stores security function is that of holding stock, thus the need for proper stock control becomes imperative.
According to Morrison (1987:9), said that stock control involves activities deigned towards the effective management and control of all inventory items held in stock. Stock represent a major part of the organization working capital or money, therefore any stock cost because of theft, fraud or damage will have to be replaced which will increase the organizations costs and reduce its profits. The value of stock cost every years is impossible to calculate, hence the figure must run into billions of naira to which must be added the loss of profits and revenue arising from production hold-ups and lost contracts. Good store security will therefore real definite financial reward for the organization.
In occupying out this project therefore, an attempt is being made to pin-point the facts that Hinders them effectively on stores security in UNAMA PAPER MILL NIGERIA LIMITED IKOT EPKENE, AKWA IBO STATE. the essence is to bring the activities of stores departments of this organization in line with the modern system of stores security aimed at rendering effective services to the user department and therefore by achieving the organizational objectives.
Unama Nigeria Limited was incorporated in October, 1982 as a private limited liability company. The company is located at Ikot-Osurua, Iko-ekpene, Aba express way. The company with indigenous and is owned by numerous shareholders, including former east central states, now made up of Anambra. Imo, Abia, Enugu and Ebonyi state. It is a unique joint stock company. It has seven men as board of director. The company is made up of six (6) departments namely, administration, finance, stores, production, maintenance and internal audit departments. The company is a proper conversion company. It engages in printing of toilet roll wrapper, waxing, sheeting of paper and production of toilet roll known as Unama.
The company has progresses over the years and has now embarked on a programme of diversification and expansion as a result of research an search and finally settled on paper milling.
The paper is ideal as for now, all papers will produce the types of paper available. The paper is known as “bleached kraft” while other are sources locally such as toiler roll core tambourine, and printing ink.
The company has various machines which perform different works example, printing machines, cutting machine, waxing machines, sheeting machine, toilet log machines, core making machines and sheeting machines.
1.2 Statement Of The Problem
In recent times, several companies in Nigeria have reported loss of materials through explosion, fire hazards and avoidable accidents. All these hazards have greatly affected operation in these organization.
It has further affected staff and management of the organization. In view of the enormous resources in terms of money and materials, lost in such incidents these has been caused f or better security in the day to day running of industries.
Specifically, this study will focus on the following:
- The problems of security as stores hour.
- The Problem of security as per stock yard.
- Problem of security as per stores personnel
- How stores security affects the profit of the organization.
1.3 Objective Of The Study
The aim of this study is to identify the stores security lapses already existing in the organization and how it affects the profitability of the organization as it concerns the store house method of stores security operation and materials handling.
Also this study will attempt to find out security lapses within the stock yard. It is also the objectives of the company particularly as it concerns materials and personnel in stores.
Furthermore, one of the objective of this study is to find out stores security required for furnished goods in the warehouse. These will involve goods in the security needs of the company with specific reference to the materials stocked by the company such as inflammable materials, example, fuel, diesel, and alcohol.
The study will also cover the area of provision of equipment to safeguard material such as stock document like ledger, stock card etc.
1.4 Research Question
It is necessary to establish some research question that will serve as a guide to the study.
These question would later be transferred to researcher hypothesis.
The research questions are:
- To what extent does stores security affect the administration.
- To what extent does security affects the profit ability of the organization.
- To what extent do stores personnel activities affects the growth of the organization.
- To what extent does stores management affects the profit making of the organization.
- To what extent does stores management affects the profit of the organization.
1.5 Significance Of The Study
The result of this study may be of use to the following group of people:
- The result will be of help to Unama paper mill to enable the organization know the importance of stores security and how it enhance the profit of the organization.
- It will help the better way of conducting stores security and has contributed to the profit making of the organization.
- Finally, it is the hope that the result obtained from this study, shall be of immense benefit to the government, and to the literate public who may stumble on this work and thus would discover how stores security enhance profit making in an organization.
1.6 Scope Of The Study
In this study, the focus was to establish the need for effective stores security in an organization.
The population comprises of staff of various of one hundred of Unama paper mill Nigeria. The study looked at the consequences of stores security towards profitability of an organization and how stores security should be run in order to attract portability of an organization.
1.7 Limitation Of The Study
One of the major constraints of this study was lack of finance to go around convicting data from the respondents. In addition, some workers in the organization were afraid to give accurate inforation for fear of victimization.
Again, it was not possible because some documents were classified as “secret document” and therefore were meant for any other person’s consumptions.
1.8 Definition Of Terms
1. Blind stock taking:
This is a system where by the person taking stock is given no prior information about the vocabulary numbers, description, stock-record, balances or location of the items he is to check.
Is a process taken a guard against theft, burglary, fire incident, etc on materials of goods stored in the storehouse.
This is the accumulation of materials parts and components kept for future use.
This refers to counting, weighting, or measuring stock to obtain an accurate list of it. It can be done on a periodical or continued basis.
5. Stocking – checking:
This is the physical checking of qualities of materials in the store which may be applied either regularly or intermittently.
This is a general term describing goods which are held in store house and stock yard.
According to Burton (1973:18), inspection is to be carried out at all catalogues items of standards and specifications must immediately be available, therefore, inspecting is the examination of incoming consignments to ensure required quality.
8. Storage of material:
The process of keeping machines or equipment in a certain pace until they are needed.
9. Material Handling:
Embraces the movement of material handling and storage of everything goods, regardless, of shapes, form, nature or weigh.
10. Inventory system:
This is a system of which items are being written down in a particular stores or making a complete not of all the lists or items held in store.
Are usually open storage areas used for the storing of various non-perishable good, that is those materials that will not deteriorate or perish when exposed to the elements over long period of times.
12. Security services:
Is as old as any other services oriented function in organization . therefore, can be defined as a government organization that protects a country and its security from enemies.
This is a person who take proper care of the items held in store/shop in other to maintain proper stock.
It is a detailed description how something is, or should be, designed or made.
This is legal/formal discussion between people who are trying to reach their agreement.
16 Stock Record:
There are employed to alter the balance of stock by adding stock in the case of deliveries and subtracting in the case of issues.
Feature of something good, especially one that makes it different from something else.
According to (Oxford dictionary) 7th edition. It is the sport of fighting with long thinesword.
19. Fire extinguisher:
Metal container with water or chemicals inside for putting out small fires.
20 Foot wear:
Shoes or boots people wear on their feet or protection.
A price of clothing worn over the front of the body, from the chest or the waist down, and tied around the waist.
22. Head Gear:
The arrangement or types of light in a place.
Act of changing color of something especially by using a special liquid of substance.
Need For Effective Stores Security In An Organization
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