An Assessment of the Inventory Management System - Case Study of C. Woermann (Ghana) Limited.
Inventory generally represents a large portion of assets of majority of organizations, if not the largest (Brian Jennings 2007). If your business handles any inventory or is largely made up of purchasing and selling items (as in the case of C. Woermann Ghana Limited), then the abilities within your Inventory Management System can effectively make or break your business. To achieve the purpose of this study, objectives were set capture three-folds: (i) to assess the current inventory management and control systems as practiced by C. Woermann (Ghana) Limited [CWGL] as well as some selected retail and wholesale organizations in the Kumasi Metropolis, (ii) to identify problems faced by CWGL and these selected retailers irj utilizing modem technology in inventory management and control systems, and (iii) to generate any recommendation(s) for achieving improved and efficient inventory management system for CWGL and such selected retail/wholesale organizations, as well as for any further research. The methodology for this thesis involved in-depth interviews and administration of questionnaires with the staff and management of CWGL. The study strongly suggests that there is a need for staff training on inventory management issues. Further research needs to be conducted to understand and document the practices, problems, and needs of different segments of the retail and wholesale sector .Training material needs to be developed which, through case studies/histories of successful (and failed) implementations of inventory management and control systems, illustrates the options available to retailers for improving their operations.
A thesis submitted to the College of Art and Social Sciences, KNUST School of Business, 2008