Risk Management Measures Towards Safeguarding Inventory. A Case Study Of Industrial Valves And Steel Suppliers (Private) Limited (2019 -2023)

Abstract

This comprehensive dissertation explores the effectiveness of risk management measures at Industrial Valves and Steel Suppliers (Pvt) Limited, Zimbabwe, over the period 2019-2023, focusing on inventory safeguarding. Through a mixed-methods approach, combining quantitative questionnaires and qualitative interviews, the study critically examines the internal control systems, their implementation, and the challenges faced in mitigating inventory-related risks. Significant findings reveal a disparity in the effectiveness of risk management strategies, influenced by factors such as employee awareness, organizational commitment, and procedural robustness. The study also uncovers areas of vulnerability within the company's procurement and inventory management processes, highlighting the need for enhanced internal audit functions and continuous review of risk management practices. The dissertation concludes with strategic recommendations for strengthening the company's risk management framework, emphasizing the importance of regular training, clear communication, and adaptation to evolving business environments. This research offers valuable insights into risk management and internal control, providing a comprehensive analysis that contributes to both academic understanding and practical application in the field.