Inventory Management: An Effective Tool For Optimizing Profitability In The Manufacturing Industry. (A Case Study Of beta Glass Company Plc, Delta Plant Ughelli):-Igwe, Okoji P
ABSTRACT
Inventory
play a key role in manufacturing firms as it represents the major component
ofmanufacturing cost and profitability. The accumulation of, and need for
materials in the form of inventories, is a significant variable for managers to
concentrate on, monitor and control. This study therefore examined the effect
of Inventory Management on the profitability of Nigerian Manufacturing firms
using a case study of Beta Glass Pic. Data was collected through a structured questionnaire,
relevant publications and interview with key individuals in the company. The
results showed that there was significant increase in the company’s
profitability as a result of efficient « management ofmaterials, which was
aided by inter-departmental coordination among materials related departments,
inventory management, good relationship with vendors, and state-of-the-art
facilities/ICT. However, the major constraints to inventory Management in the
company included fraud, theft, inventory shortage and material wastage. This
study advocated that priority should be given to inventory Management in Beta
Glass Manufacturing Industry' in order to achieve significant cost saving,
improvement in production efficiency, and increase in profitability and competitiveness.
Recommendation was 'made for government to provide adequate infrastructural
supports to boost inventory Management in Nigerian Manufacturing Industry.
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IGWE, I (2024). Inventory Management: An Effective Tool For Optimizing Profitability In The Manufacturing Industry. (A Case Study Of beta Glass Company Plc, Delta Plant Ughelli):-Igwe, Okoji P. Mouau.afribary.org: Retrieved Nov 23, 2024, from https://repository.mouau.edu.ng/work/view/inventory-management-an-effective-tool-for-optimizing-profitability-in-the-manufacturing-industry-a-case-study-of-beta-glass-company-plc-delta-plant-ughelli-igwe-okoji-p-7-2
IGWE, IGWE. "Inventory Management: An Effective Tool For Optimizing Profitability In The Manufacturing Industry. (A Case Study Of beta Glass Company Plc, Delta Plant Ughelli):-Igwe, Okoji P" Mouau.afribary.org. Mouau.afribary.org, 14 Aug. 2024, https://repository.mouau.edu.ng/work/view/inventory-management-an-effective-tool-for-optimizing-profitability-in-the-manufacturing-industry-a-case-study-of-beta-glass-company-plc-delta-plant-ughelli-igwe-okoji-p-7-2. Accessed 23 Nov. 2024.
IGWE, IGWE. "Inventory Management: An Effective Tool For Optimizing Profitability In The Manufacturing Industry. (A Case Study Of beta Glass Company Plc, Delta Plant Ughelli):-Igwe, Okoji P". Mouau.afribary.org, Mouau.afribary.org, 14 Aug. 2024. Web. 23 Nov. 2024. < https://repository.mouau.edu.ng/work/view/inventory-management-an-effective-tool-for-optimizing-profitability-in-the-manufacturing-industry-a-case-study-of-beta-glass-company-plc-delta-plant-ughelli-igwe-okoji-p-7-2 >.
IGWE, IGWE. "Inventory Management: An Effective Tool For Optimizing Profitability In The Manufacturing Industry. (A Case Study Of beta Glass Company Plc, Delta Plant Ughelli):-Igwe, Okoji P" Mouau.afribary.org (2024). Accessed 23 Nov. 2024. https://repository.mouau.edu.ng/work/view/inventory-management-an-effective-tool-for-optimizing-profitability-in-the-manufacturing-industry-a-case-study-of-beta-glass-company-plc-delta-plant-ughelli-igwe-okoji-p-7-2