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Title: An evaluation of stock control in Maltese supermarkets
Authors: Agius, Darren
Keywords: Supermarkets -- Malta
Inventory control -- Malta
Inventory control -- Data processing
Issue Date: 2015
Abstract: Purpose: The main goal of this dissertation is to evaluate the stock control systems of Maltese supermarkets. It aims to determine the procedures of the stores, accounting and finance function in relation to stock control. It also identifies and evaluates the techniques which are being used by Maltese supermarkets for controlling and valuing inventory. It also analyses the procedures that are used by Maltese supermarkets to carry out stock-taking. Finally, it determines the internal controls which are used by Maltese supermarkets to prevent theft or fraud. Design: A qualitative approach was adopted to deal with the research objectives. Data was obtained mainly through fourteen semi-structured interviews with various managers, directors, accountants and financial controllers of supermarkets. Findings: Currently, purchase orders are issued by suppliers’ sales persons and supermarkets’ purchasing managers. Upon delivery, each supermarket performs quality checks on a sample of items in order to detect any expired or damaged items. In the majority of supermarkets, the accounts function is carried out in-house. Every supermarket prepares management accounts and stock control reports to evaluate and assess its performance. The main source of finance used by supermarkets to finance stock is the internally generated funds. The stock control techniques which are used by Maltese supermarkets are stock levels, stock turnover, JIT, Barcode and RFID tags. Every supermarket uses a similar method to carry out stock-taking. Currently, each supermarket makes use of sufficient measures and controls to prevent theft or fraud from happening. Conclusions: Maltese supermarkets are using appropriate stock control measures which are giving adequate results. However certain supermarkets are letting suppliers’ sales persons to issue a purchase order and to enter in the stores. Moreover any material discrepancy is being ignored by every supermarket. If these supermarkets allow only the purchasing managers of supermarkets to issue purchase orders, restrict the access of the stores to staff only, and evaluate non material discrepancy as well, the supermarkets will improve their stock control system. Value: The findings of this study will provide relevant information to prospective managers, directors, financial controllers and accountants about the stock control systems which are in place in Maltese supermarkets. Furthermore, this study might be used as a reference by these persons to help them manage inventory better.
Description: M.ACCTY.
Appears in Collections:Dissertations - FacEma - 2015
Dissertations - FacEMAAcc - 2015

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