Inventory Control And Organizational Performance

Project and Seminar Material for Business Administration and Management BAM

Inventory Control And Organizational Performance


Abstract


This study is aimed at examining the significance of inventory control and organizational performance, a study of PZ, llupeju, Lagos. The survey research design was used in this research. The researcher made use of structural questionnaire as the research instrument to collect relevant data from 120 respondents on the subject matter of the research out of which a total of 105 questionnaires was retrieved and analyzed using simple percentage. The researcher made use of simple Random Technique as the sampling procedure while the chi-square was used to test the hypothesis raised in this research. Findings in this study reveals that, every profit-driven organization should have a sound, effective and well-coordinated inventory management system because the business environment is rapidly changing, highly competitive and it drastically affects the performance of the organization. It has also been found out in this study that, many organizations fail to take cognizance of effective inventory control management. The researcher has therefore recommended that PZ should take into serious consideration the issue of inventory control management in order to achieve the organizational set goals.


Inventory Control And Organizational Performance


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Inventory Control And Organizational Performance


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Frequently Asked Questions


What are the contributions of inventory management to organizational performance?

Contributions of inventory management to organizational performance. The study explored contributions of inventory management to organizational performance. The reason was to establish whether respondents were aware that inventory management practices contribute greatly to the performance of local governments.

Does inventory management affect organizational effectiveness in Nigeria?

The study of the “Effects of Inventory Management on Organizational Effectiveness in selected organizations in Enugu, was carried out, to asses the impact of proper inventory management on organizational performances in Emenite, Hardis & Dromedas and the Nigeria Bottling Company all in Enugu, Enugu State.

How does inventory control affect the performance of a firm?

Phebe & Njoku (2018) indicated that inventory control has a significant positive impacts on the performance parameters of organizations and therefore contributes to economic production quantity and quality of products at budgeted costs and scheduled time to customers and hence profitability of manufacturing firms.

How does inventory management practice affect micro and small enterprises performance?

The main objective of this study was to examine the impact of inventory management practice of micro and small enterprises competitiveness and performance. The results of the study indicate that higher levels of inventory management practice can lead to an enhanced competitive advantage and improved organizational performance.

Does inventory management affect firm performance and cash flows?

However, almost all these studies fail to acknowledge the fact that inventory management also have an effect on firms operating cash flows. In this study, we focused exclusively on the effects of inventory management on firm performance of Ghana’s manufacturing firms.

What is the importance of inventory management to organizations?

Basing on the findings, Inventory management helps organizations to cut down costs incurred by an organization.

Does inventory management affect firm performance in Ghana?

The empirical results provided evidence that the main variable, inventory management have no effect on firm’s performance and is insignificantly related to firm performance of manufacturing firms in Ghana. Keywords: Ghana Stock Exchange, Firm performance, Manufacturing firms, Inventory management, Profitability, Operating cash flow

Which measures of firm performance are related to effective inventory management?

Measures of firm performance which were profitability and operating cash flows were examined. Regression equations stated in the form of return on assets and operating cash flow was used in analysing firm performance data. Pearson correlation and multiple regression analysis was also used as proxies in relatedness to effective inventory management.

What are the objectives of inventory management study in Nigeria?

…manufacturing organizations in Nigeria, while the specific objectives are:- 1. To examine the nature of relationship between inventory management and organizational effectiveness. 2. To determine the effect of inventory management on organizational productivity. 

Does inventory management affect organizational effectiveness?

…inventory management and organizational effectiveness. Inventory management has a significant effect on organizational productivity. There is highly positive correlation between good inventory management and organizational profitability. The study concluded that Inventory Management is very vital to the success and growth of organizations.

What is inventory management?

From the foregoing therefore, one infers that inventory management is the act of ensuring that balanced items of stock are maintained at the right quantity, quality, place and time in an organization, to ensure organizational business continuum. Types of Inventory

Why should organizations diversify their inventory system?

The entire profitability of an organization is tied to the volume of products sold which has a direct relationship with the quality of the product Against this background the study recommended that Organizations should diversify their inventory system to suit specific needs of production, and that management

How does inventory management affect firm performance?

In an effort to fasten inventory management on firm performance, many decisions are being taken to provide a direction and strategy for competitiveness and productivity. Empirical studies have had diverse findings conducted globally on inventory management.

What is the difference between inventory control and inventory management?

Starting with good inventory control, effective inventory management is the result of both inventory control and inventory management. While inventory control is associated with ensuring that the inventory in the warehouse is in good condition, inventory management is focused on reordering goods.

Does inventory management affect firm performance in Ghana?

The empirical results provided evidence that the main variable, inventory management have no effect on firm’s performance and is insignificantly related to firm performance of manufacturing firms in Ghana. Keywords: Ghana Stock Exchange, Firm performance, Manufacturing firms, Inventory management, Profitability, Operating cash flow

What are the effects of the financial crisis on inventory management?

… This has misled firms into adopting irrelevant inventory management strategies exposing them to high inventory wastages, unnecessary shortages and production delays.

How to promote inventory management practice in micro and small enterprises?

Therefore, it is recommended for owners and managers of micro and small enterprises to promote the inventory management practice by using different scientific to1. Introduction

What is the impact of inventory management practice on performance?

The main objective of this study was to examine the impact of inventory management practice of micro and small enterprises competitiveness and performance. The results of the study indicate that higher levels of inventory management practice can lead to an enhanced competitive advantage and improved organizational performance.

How does the competitiveness of a firm affect its inventory management?

…increased competitiveness of a firm may enable a firm to implement higher level of inventory management practice due to the need to outperform its competitors constantly and keep its competitive

How can inventory management improve the performance of MSEs?

Therefore, in the development process of any country, the performance of MSEs based on competition, productivity, and efficiency will play a significant role in the economy. It is observed from literature that making use of formal inventory management practices is one of the ways to acquire competitiveness. Stevenson, B. ( 2010 ). 

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