ABSTRACT
In many organizations, inventories
constitute a sizeable proportion of their working capital and as such, the
amount of capital tied up in them is a major determinant of the flexibility
and/or success of the firms. With the attendant problems of recession,
investments in inventory demand careful considerations. It is in line with this
that the I study foeüed in the main on how firms manage their inventories
within recession to attain the overall objective of the firms. I For a detailed
treatment of all the relevant facets of the study, it I was divided into five
chapters. To facilitate the work involved, four I hypothesis were drawn. I A
field survey was used to establish the validity of otherwise of the hypotheses
based in the main on the data collected through I questionnaires and interviews
drown on the staff of the organizations. I Frequency distributions and
percentages were employed in the 1 analysis of data. Chi-square (X2) as a
measure of significance was I used to test the hypotheses. On the basis of the
findings, three of the hypotheses were I validated wheres one was nullified.
The findings revealed that there is usually heightened concern for effective
inventory management I I I ' I 1 I 1 I I I v during inflation, low capacity
utilization often increases the need for effective inventory control, the size
of the firm determines the inventory control system adopted and the need to
hedge against stockouts often does not lead too high inventory costs, etc.
Infact, it was found that management could not have controlled their inventories
well during this period if they did not fully understand the importance of the
function. Recommendations were then preferred on how best to use inventory
management and control in the attainment of business goals which include
judging the optimal level of inventories in relation to the flexibility
inventories in relation to the flexibility inventories afford, defining the
purpose for which a product is made, reviewing and/or reorganizing production
schedules and/or distribution methods to reduce inventory levels, enhancement
of communication system, development of indigenous systematic analytical
approach, establishment of research and dev210pment department, etc. Finally, a
conclusion was attempted.
ONWUMERE, J (2021). Inventory Management And Control In Manufacturing Firms: An Appraisal Of The Techniques (A Case Study Of Selected Manufacturing Firms In Imo State) . Mouau.afribary.org: Retrieved Nov 27, 2024, from https://repository.mouau.edu.ng/work/view/inventory-management-and-control-in-manufacturing-firms-an-appraisal-of-the-techniques-a-case-study-of-selected-manufacturing-firms-in-imo-state-7-2
JACQUELINE, ONWUMERE. "Inventory Management And Control In Manufacturing Firms: An Appraisal Of The Techniques (A Case Study Of Selected Manufacturing Firms In Imo State) " Mouau.afribary.org. Mouau.afribary.org, 27 Jul. 2021, https://repository.mouau.edu.ng/work/view/inventory-management-and-control-in-manufacturing-firms-an-appraisal-of-the-techniques-a-case-study-of-selected-manufacturing-firms-in-imo-state-7-2. Accessed 27 Nov. 2024.
JACQUELINE, ONWUMERE. "Inventory Management And Control In Manufacturing Firms: An Appraisal Of The Techniques (A Case Study Of Selected Manufacturing Firms In Imo State) ". Mouau.afribary.org, Mouau.afribary.org, 27 Jul. 2021. Web. 27 Nov. 2024. < https://repository.mouau.edu.ng/work/view/inventory-management-and-control-in-manufacturing-firms-an-appraisal-of-the-techniques-a-case-study-of-selected-manufacturing-firms-in-imo-state-7-2 >.
JACQUELINE, ONWUMERE. "Inventory Management And Control In Manufacturing Firms: An Appraisal Of The Techniques (A Case Study Of Selected Manufacturing Firms In Imo State) " Mouau.afribary.org (2021). Accessed 27 Nov. 2024. https://repository.mouau.edu.ng/work/view/inventory-management-and-control-in-manufacturing-firms-an-appraisal-of-the-techniques-a-case-study-of-selected-manufacturing-firms-in-imo-state-7-2