Costing as an Essential Instrument in Materials Management and Control (a Case Study of Emenite PLC Enugu)

Abstract

This study aims at examining the role which costing plays in materials management and control with a view to projecting the end of cost department in every industrial organization . In order to highlight the foregoing objective, the survey method of research was employed in the study. Both primary ad secondary sources of data were utilized in gathering relevant information. The primary sources consists of the questionnaire and oral interview while the secondary sources were gathered from existing literature on the subject matter of the study. Tabular presentation of data analysis was used whereby the effect and relationship one data has with another was quantified by simple percentage representation. The study has proved that costing is a veritable instrument for materials control in any industrial organization. Given the importance of effective materials management in any industry, this study recommends the recognition of cost departments in \ such organizations, and of course the creation of good working environment to enable the department function effectively. Finally, the study made a case foe the development of the study of costing beyond the existing level in all our tertiary institutions. Pursuant to this recombination, industrial operators should liaise with government to ensure that the curriculum of various institutions are developed to incorporate the increase importance of costing and at the same time see to the adequate functioning of the programme. Cost information provides management with relevant sources for planning and controlling the affairs of an organization. In manufacturing companies cost information provides vital data for making operational and strategic decisions that contribute to overall corporate development.