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A STUDY ON ENHANCING THE AWARENESS OF EFFECTIVE

INVENTORY MANAGEMENT AT BOUSTEAD NAVAL SHIPYARD SDN


BHD LUMUT,PERAK

SUTHA GANESHA CHANDRAN


56212115002

Report Submitted to Fulfill the Partial Requirements


For the Bachelor of Maritime Operations
Universiti Kuala Lumpur

JANUARY 2018
DECLARATION

I declare that this report is my original work and all references have been
cited adequately as required by the University

Date : 28/05/2018 Signature…………………….


Full Name: SUTHA GANESHA
ID Number: 56212115002
APPROVAL PAGE

We have supervised and examined this report and verify that it meets the
program and University for the Bachelor of Maritime Operations

Date: 28/05/2018 Signature……………………………


Supervisor: MR AMAYROL ZAKARIA
Official Stamp:

Date: 28/05/2018 Signature……………………………


Co-Supervisor: Dr Zulkarnanin
Official Stamp:

ACKNOWLEDGEMENT
First, I would like to praise Lord for the strength and blessing that He pours
upon me. Thank you for all the patience and wisdom He provided me with
throughout the way in order to complete my research till the very end. Special
thanks to my supervisor, Mr Amayrol B Zakaria, for his continuous support
and effort in guiding me from day one up to the final completions of my
research work. All his positive comments and support are much appreciated
as it provided me with more improvements and ideas to complete on my
research.I would like to thanks my programme coordinator, Madam Azlina
Nasir, and other BMO lecturers for their support and knowledge during my
time studying here. Besides, I would also like all individuals who directly or
indirectly have affected me and contributed their support in my project,
especially my beloved mother , my sister and my dearest friends.

CONTENTS

DECLARATION…………………………………………………………………111
APPROVAL PAGE……………………………………………………………...111
ACKNOWLEDGEMENT………………………………………………………..111
LIST OF
TABLES………………………………………………………………..111
LIST OF FIGURES………………………………………………………………111
ABSTRACT………………………………………………………………………111

CHAPTER 1 : INTRODUCTION
1.1 Introduction……………………………………………………………1
1.2 Background of Study…………………………………………………3
1.3 Problem Statement…………………………………………………....4
1.4 Research Objective & Question……………………………………..5
1.5 Significance of Study………………………………………………….6
1.6 Scope of Study………………………………………………………...7
1.7 Limitation of Study…………………………………………………….7
1.8 Overview of Project…………………………………………………...8

CHAPTER 2 : LITERATURE REVIEW


2.1 Introduction…………………………………………………………….9
2.2 Inventory Management……………………………………………...10
2.2.1 Bill of Materials……………………………………………..11
2.3 Types of Inventory Management Systems………………………...12
2.3.1 Minimum Stock Levels (perpetual system).....................12
2.3.2 Just In Time (JIT)............................................................13
2.3.3 Economy Order Quantity…………………………………..13
2.3.4 Safety Stock…………………………………………………15
2.3.5 Last in First Out (LIFO) and First in First Out (FIFO)......15
2.4 Vendor Managed Inventory (VMI).................................................16
2.4.1 The Suitability of Vendor Managed Inventory…………...19
2.5 ABC Method………………………………………………………….20
2.6 Material Requirements Planning (MRP).......................................21
2.7 Demand Forecasting………………………………………………...23
2.7.1 Process of Forecasting……………………………………23
2.8 Effective & Successful Inventory Management…………………..27
2.8.1 Effective Inventory Management………………………....27
2.8.2 Successful Inventory Management……………………....30
2.9 Poor Inventory Management……………………………………......32
2.10 Why Inventory Management Fails………………………………...33
2.11 Ways to Improve Inventory Management………………………...35
2.11.1 Accounting Records………………………………………35
2.11.2 Physical Count…………………………………………….36
2.11.3 Inventory Level…………………………………………… 36
2.11.4 Inventory Quality…………………………………………..37

2.12 Developments in Inventory Management………………………...38


2.13 Suggestions for Better Inventory Management………....……….39
2.14 Summary……………………………………………………………..41

CHAPTER 3 : METHODOLOGY
3.1 Introduction…………………………………………………………...44

3.2 Methodology Flowchart……………………………………….……..45

3.3 Data Collection Method……………………………………………...46

3.3.1 Participants……………………………………………...….46

3.3.2 Materials…………………………………………………….46

3.3.3 Techniques for Data Analysis (Steps).............................47

3.4 Design of Questionnaire……………………………………………..47

3.5 Method of Research………………………………………………….48

3.5.1 Structured questionnaire…………………………………..49

3.6 Data Analysis………………………………………………………….49

3.6.1 SPSS……………………………………………………...…49

3.7 Conclusion…………………………………………………………….51
CHAPTER 4 : RESULT AND DISCUSSION
4.1 Introduction……………………………………………………………52

4.2 Result for Demographic Analysis…………………………………...53

4.2.1 Age of Respondents…………………………………….....54

4.2.2 Gender of Respondents…………………………...………54

4.2.3 Nationality of Respondents……………………...………..55


4.2.4 Race of Respondents……………………………………...56
4.2.5 Years of Employment at Boustead Naval Shipyard…….57
4.2.6 Duration of Working Hours………………………………..58
4.2.7 Level of Education……………………………….…………59

4.3 Reliability Analysis……………………………………………………60

4.4 Descriptive Analysis………………………………………………….61

4.5 Normality Test………………………………………………………...62

4.6 Pearson Correlation Analysis……………………………………….73


4.7 Summary……………………………………………………………...74

CHAPTER 5 : CONCLUSION AND RECOMMENDATION


5.1 Introduction………………………………………………………….75
5.2 Conclusion…………………………………………………………..75
5.3 Recommendations………………………………………………....76
5.4 For Further Research……………………………………………...77
5.5 Chapter Summary………………………………………………….78

LIST OF TABLES

Table 4.2.1 Age of Respondents………………………………………53

Table 4.2.2 Gender of Respondents………………………………….54


Table 4.2.3 Nationality of Respondents……………………………...55

Table 4.2.4 Race of Respondents…………………………………….56

Table 4.2.5 Years of Employment at Boustead Naval Shipyard…..57

Table 4.2.6 Duration of Working Hours……………………………...58

Table 4.2.7 Level of Education………………………………………..59

Table 4.3 Reliability Analysis…………………………………………..60

Table 4.4 Descriptive Analysis………………………………………...61

Table 4.5 Normality Test………………………………………………..63

Table 4.6 Pearson Correlation Analysis………………………………64

LIST OF FIGURES
Figure 2.2.1 Bill of Materials (BOM)....................................................11
Figure 2.3.3 Economic Order Quantity…………………………………14
Figure 2.3.3.1 Lead Time………………………………………………...14
Figure 2.4 Map of Vendor Managed Inventory System……………….18
Figure 2.4.1 Flow of Orders and Goods in a VMI System……………19
Figure 2.5 Graphical Representation of ABC Method………………...21
Figure 2.6 Flow of a MRP system (Finntrack)....................................22
Figure 2.7.1 Process of selection of the best forecast……………….26
Figure 2.8.2 Successful Inventory Management……………………...30
Figure 2.13 Carrier Inspection…………………………………………..40
Figure 3.2.1 Methodology Flow Chart……………………………..…...45
Figure 4.2.1 Age of respondents………………………………………..53
Figure 4.2.2 Gender of Respondent…………………………………....54
Figure 4.2.3 Nationality of Respondent………………………………..55
Figure 4.2.4 Race of Respondent……………………………………...56
Figure 4.2.5 Years of Employment at Boustead……………………...57
Figure 4.2.6 Working Hours…………………………………………….58
Figure 4.2.7 Level of Education………………………………………..59

ABSTRACT
The number of major losses and equipment breakdown due to unavailability
of spare parts has gained increasing attention among ship maintenance and
inventory planners. Traditionally, the inventory planner will strengthen their
replenishment policies in order to maximize the expected total profit and
lowering total cost in planning horizon. Efficiency of the inventory
management solely depends on the practices that had been applied
therefore the standards practiced should be up to the level applied by other
International Maritime Industries. The main objective of this study is to
determine whether the standards practised are sufficient and up to par with
other esteemed maintenance organizations. The purpose of the study was to
assess the effect of inventory control systems on operational performance in
maintenance. The study target population was 138 respondents consisting of
inventory personnel and maintenance personnel, employees working at at
Boustead Operations. The main data collection instrument was a structured
questionnaire. Quantitative data was analyzed using descriptive statistics. It
is found that the findings of this study are to be beneficial to the management
of ship maintenance firms to improve their operational performance and also
inform policy makers.

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