CHAPTER ONE

1.0 INTRODUCTION

An inventory control system contains a list of orders to fill, and then invite the workers to choose the necessary elements, and provides packaging and formatting information, inventory control can be used to automate a process order processing sales and managing both in and out equipment material. Automation is the replacement of human workers by technology. Optional for sales and inventory management processes, robust functionality needed to manage logistics facilities. Ware House Management functions for inventory control cover ware house internal movements and storage and support helps the recording and tracking of materials on the basis of quantity and value. This application supports all procurement orders by reducing the costs of storage, transportation, while improving customer service. It significantly improves inventory turns, optimize the flow of goods and shortens the roads in warehouses and distribution centers. it also improves cash flow, visibility and decision-making providing efficient execution of tasks using this fast and reliable computerized method

1.1 HISTORY OF THE STUDY

The Management Board of Petroleum Equalisation Fund is a parastatal scheduled the Ministry of Petroleum Resources, established by Decree No. 9 of 1975 (as amended by Decree No. 32 of 1989), mainly to administer uniform price petroleum products across the country. This is achieved by reimbursingnsportationdifferentialsmarketer’sforpetroleumproducts movementtra deposits at their outlets (filling station), to ensure that the products are sold at uniform prices throughout the country pump. The source of the Fund is primarily the net gain recovered oil Marketing Companies. It has an operational office in Lagos, five (5) area offices and twenty-two (22) Depot NNPC offices in 21 Deposits and Ma headed by the Executive Secretary who is the Chief Administrative Officer, responsible for the day the daily operations of the Fund. In 1979, government, aware that the supply for petroleum products has not reached the most remote parts of the country has encouraged major Marketers to open filling stations in these areas. The purpose of this Charter is to explain what we do, how we deliver effective and efficient services and our commitment to all stakeholders and customers. It also welcomes feedback as a means of evaluating our performance and meet expectations.

(a) Mission Statement

The management and staff of the Council of Petroleum Equalisation Fund (Management) are pleased to present our service delivery charter. It is, to be, in order to administer the fund in accordance with the provisions of this Act, a body known as the Petroleum Equalization Fund Management Board (hereinafter in this Act referred to as The legislative Charter of the Council as provided by Decree No. 9 of 1975 as amended by Decree No. 32 of 1989 (as section 352) of the Laws of the Federation 1990). The Council of Petroleum Equalisation Fund (Management) is engaged to equalize the differences in transport marketing products and white uniform prices of petroleum products obtained in the country and stakeholders are promptly and fairly treated in the process. The PEF (M) B as a good corporate organization would strive to conscientiously implement all directives of the government, in particular to ensure transparency, probity and accountability. It would collaborate with all stakeholders to ensure the prompt settlement of claims Marketers improve the distribution of petroleum products to make them available at reasonable costs nationally. In addition to its core functions, the Council would, with its new structure of computerization, we strive to build a database / data precise information on the level of lifting and distribution of petroleum products throughout the federation.