Impact of Effective Inventory Control Measure as A Necessary Tool in Improving Organizational Performance (A Study of Nigeria Breweries Pie Aba, Abia State)
ABSTRACT
In few decades
ago, inventory control was not seen to be necessary, and excess of inventories
were considered as indications of wealth. Management by then considered
overstocking beneficial but currently, firms' have embrace effective inventory
control due to its strategic role in organizational performance. Consequently,
managing inventory efficiently has become an important operational weapon for
products and service firms wishing to survive the competitive pressures and
most of these firms hold inventory so as to meet their customers' needs (Etim,
John and Ime, 2014). Inventory constitutes the most significant part of current
assets of firms and because of the relative largeness of inventories maintained
by the firms, a considerable amount of fund is being committed to holding
inventory. It thus, becomes essential to deploy cutting-edge techniques to
manage inventories so as to avoid lost sales, costs of changing production
rates, overtime costs, sub-contracting, unnecessary cost of sales and backorder
penalties during periods of peak demand (Wilfred, 2014).
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KALU, H (2023). Impact of Effective Inventory Control Measure as A Necessary Tool in Improving Organizational Performance (A Study of Nigeria Breweries Pie Aba, Abia State). Mouau.afribary.org: Retrieved Nov 24, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-effective-inventory-control-measure-as-a-necessary-tool-in-improving-organizational-performance-a-study-of-nigeria-breweries-pie-aba-abia-state-7-2
HARMONY, KALU. "Impact of Effective Inventory Control Measure as A Necessary Tool in Improving Organizational Performance (A Study of Nigeria Breweries Pie Aba, Abia State)" Mouau.afribary.org. Mouau.afribary.org, 15 Sep. 2023, https://repository.mouau.edu.ng/work/view/impact-of-effective-inventory-control-measure-as-a-necessary-tool-in-improving-organizational-performance-a-study-of-nigeria-breweries-pie-aba-abia-state-7-2. Accessed 24 Nov. 2024.
HARMONY, KALU. "Impact of Effective Inventory Control Measure as A Necessary Tool in Improving Organizational Performance (A Study of Nigeria Breweries Pie Aba, Abia State)". Mouau.afribary.org, Mouau.afribary.org, 15 Sep. 2023. Web. 24 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-effective-inventory-control-measure-as-a-necessary-tool-in-improving-organizational-performance-a-study-of-nigeria-breweries-pie-aba-abia-state-7-2 >.
HARMONY, KALU. "Impact of Effective Inventory Control Measure as A Necessary Tool in Improving Organizational Performance (A Study of Nigeria Breweries Pie Aba, Abia State)" Mouau.afribary.org (2023). Accessed 24 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-effective-inventory-control-measure-as-a-necessary-tool-in-improving-organizational-performance-a-study-of-nigeria-breweries-pie-aba-abia-state-7-2