Examining the effects of inventory management on store performance: a case of building materials manufacturing firms in Ghana
No Thumbnail Available
Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
KNUST
Abstract
The prime objective of any business organisation is to get the best return on every little investment made, and one sure way of achieving this goal is through proper and effective inventory management. If inventory is not properly managed, it can result in liquidity crisis which may eventually bring a firm to its knees. It is, therefore, against this backdrop that this study sought to examine the effect of inventory management practices on store performance of building manufacturing firms in Ghana. It was found from the study that the selected building materials manufacturing firms have been practicing inventory management. However, its effectiveness and how those practices affect their store performance is where a challenge is faced. It was also found that inventory management does not explain significantly changes in store performance of building materials manufacturing firms. Therefore, pragmatic measures should be put in place to curb such challenges to ensure effective and efficient inventory control among building materials manufacturing firms in Ghana. To ensure that the inventory management plans and policies are being followed, it is important to set up effective and efficient monitoring systems. This would include recruiting well qualified personnel to manage the inventory system and set up functioning information systems which will be used to manage the system. Inventory management should not be the preserve of the management and stores or logistics department only but every staff must be made to understand the importance of inventory management.
Description
A thesis submitted to the department of department of supply chain and information systems, institute of distance learning, in partial fulfilment of the requirements for award of the degree of master of science (logistics and supply chain management)