Inventory Management, Organizational Operations and Productivity in Nigerian Companies: A Panacea for Profitability

α
Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel
Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel Ph.D., M.Sc., B.Sc. Economics, MBA Management and UD, Personnel Management and Industrial Relations, Director of Postgraduate Studies, School of Postgraduate Studies
σ
Past. Dr. Abomaye-Nimenibo
Past. Dr. Abomaye-Nimenibo
ρ
Williams Aminadokiari Samuel
Williams Aminadokiari Samuel
Ѡ
Godwin Mbang Timothy
Godwin Mbang Timothy
α to σ Obong University Obong University

Send Message

To: Author

Inventory Management, Organizational Operations and Productivity in Nigerian Companies: A Panacea for Profitability

Article Fingerprint

ReserarchID

5340T

Inventory Management, Organizational Operations and Productivity in Nigerian Companies: A Panacea for Profitability Banner

AI TAKEAWAY

Connecting with the Eternal Ground
  • English
  • Afrikaans
  • Albanian
  • Amharic
  • Arabic
  • Armenian
  • Azerbaijani
  • Basque
  • Belarusian
  • Bengali
  • Bosnian
  • Bulgarian
  • Catalan
  • Cebuano
  • Chichewa
  • Chinese (Simplified)
  • Chinese (Traditional)
  • Corsican
  • Croatian
  • Czech
  • Danish
  • Dutch
  • Esperanto
  • Estonian
  • Filipino
  • Finnish
  • French
  • Frisian
  • Galician
  • Georgian
  • German
  • Greek
  • Gujarati
  • Haitian Creole
  • Hausa
  • Hawaiian
  • Hebrew
  • Hindi
  • Hmong
  • Hungarian
  • Icelandic
  • Igbo
  • Indonesian
  • Irish
  • Italian
  • Japanese
  • Javanese
  • Kannada
  • Kazakh
  • Khmer
  • Korean
  • Kurdish (Kurmanji)
  • Kyrgyz
  • Lao
  • Latin
  • Latvian
  • Lithuanian
  • Luxembourgish
  • Macedonian
  • Malagasy
  • Malay
  • Malayalam
  • Maltese
  • Maori
  • Marathi
  • Mongolian
  • Myanmar (Burmese)
  • Nepali
  • Norwegian
  • Pashto
  • Persian
  • Polish
  • Portuguese
  • Punjabi
  • Romanian
  • Russian
  • Samoan
  • Scots Gaelic
  • Serbian
  • Sesotho
  • Shona
  • Sindhi
  • Sinhala
  • Slovak
  • Slovenian
  • Somali
  • Spanish
  • Sundanese
  • Swahili
  • Swedish
  • Tajik
  • Tamil
  • Telugu
  • Thai
  • Turkish
  • Ukrainian
  • Urdu
  • Uzbek
  • Vietnamese
  • Welsh
  • Xhosa
  • Yiddish
  • Yoruba
  • Zulu

Abstract

This study examines the effect of inventory management on organizational operations, productivity, as a means of causing the profitability of companies. The study was, therefore designed to study how the manufacturing firms managed their inventory materials. We used questionnaire in collecting our data. The data collected was analysed using spearman’s rank-order correlation coefficient and the Pearson product-moment correlation coefficient. The findings indicated that the method used by 7Up Bottling Company to manage their inventories in both raw materials and the finished product was efficient as the amount of naira saved in the course of purchase have more effect on the profitability of the company during production/ selling of the finished goods. Controlled purchasing is found to be costeffective. The study recommends the following: an adoption and application of the economic order quantity (EOQ) model to save cost and make the operations more efficient.

References

49 Cites in Article
  1. Dennis Azi,Clever Gbanador,Chioma Chidinma George- Anokwuru (2019). Financial Development and Industrial Sector Growth in West African Monetary Zone (WAMZ): Does Inflation Matter?.
  2. Saidu Musa,Nusirat Gold,Hope Aifuwa (2011). Board Diversity and Sustainability Reporting: Evidence from Industrial Goods Firms.
  3. Adam Albert,R (1993). Production and Operations Management.
  4. A Adeniji (2008). Lagos, Oba Of; H. H. Sir Adeniji-Adele Ii, (died 12 July 1964), Paramount Chief of Lagos; Vice-President of the Senate (Federal Upper House); President, Lagos Town Council.
  5. K Ahuja (2002). Production Control.
  6. N Anichebe,O Agu (2013). Effect of Inventory Management on Organizational Effectiveness Information and Knowledge Management.
  7. M Arora (2000). Manish Arora, New Delhi.
  8. A Augustine,A Agu (2013). Inventory Management on Organizational Effectiveness Information and Knowledge Management.
  9. J Baggot (2001). Cost Management Accounting.
  10. M Baridam (2001). Research Method of Study in Administrative Science.
  11. R Burman (1995). Manufacturing Management, Principles and Systems.
  12. N Burns,S Grove (2003). Understanding nursing research Nancy burns and Susan grove WB Saunders Understanding nursing research nancy burns and susan grove 585pp £20 0-7216-4436-8 0721644368.
  13. R Carter (2002). Lion sells high-end detergent, toothbrush at limited stores.
  14. (2012). Central Bank of Nigeria Journal of Applied Statistics.
  15. (2013). Central Bank of Nigeria Journal of Applied Statistics.
  16. (2014). Unknown Title.
  17. (2015). Central Bank of Nigeria.
  18. (2016). Central Bank of Nigeria Journal of Applied Statistics.
  19. R Chase,N Aquilano (1989). Production and Operation Management -A Llife Cycle Approach.
  20. J David,Piasecki (2003). Inventory Accuracy.
  21. R Draft (2000). Management-an interactive text.
  22. Colin Drury (2004). Management and Cost Accounting.
  23. Ifeanyi Oti,Inumanye Ojule,Sunday Chinenye,Blessing Jaja (2011). EFFECTS OF STRUCTURED EXERCISES AND MUSIC THERAPY ON THE FUNCTIONAL INDEPENDENCE OF STROKE SURVIVORS: A RANDOMIZED CONTROLLED CLINICAL TRIAL.
  24. U Essien (2005). Management Accounting Theory and practice.
  25. Olufemi Falope,Olubanjo Ajilore (2009). Working Capital Management and Corporate Profitability: Evidence from Panel Data Analysis of Selected Quoted Companies in Nigeria.
  26. W Gaither (1996). Productions and Operations Management.
  27. R Garrison (2004). Managerial Accounting.
  28. Achmad Petersen,Shelly Herbert,Nabeelah Daniels (2003). The likely adoption of the IFRS Foundation's proposed sustainability reporting standards.
  29. Naeem Hassan,Malik Imran,Muhammad Amjad,Mehboob Hussain (2014). Effects of Working Capital Management on Firm Performance: An Empirical Study of Non-financial listed Firms in Pakistan.
  30. Wilson Henry (2000). Managerial Accounting 2 nd Edition.
  31. O Lawal (1989). Essentials of 'A' Economics of West Africa.
  32. S Love (1979). Inventory Control.
  33. T Lucey (2002). Summer Engineering Program In London.
  34. Behnam Malakooti (2013). Operations and Production System with Multiple Objectives.
  35. Max Muller (2011). Essentials of Inventory Management.
  36. Morse (1997). Doing Business on the Internet, Collin, Simon. Kogan Page, London, 1997, 203 pages. ISBN : 0-7494-2128-2.
  37. O Nwabuokei (2009). Productivity gains in Developing Countries: A survey of the literature.
  38. Ann Ogbo,Wilfred Ukpere (2014). The Impact of Effective Inventory Control Management on Organisational Performance: A Study of 7up Bottling Company Nile Mile Enugu, Nigeria.
  39. I Okwo,D Ugwunta (2012). Does Leverage affect Profitability and Firm Value of Nigerian Firms? A Panel Modeling of Nigerian Banking Industry.
  40. Efuntade Alani Olusegun,Efuntade Olubunmi Omotayo (2006). Portfolio Allocation and Financial Performance of Insurance Industry in Nigeria.
  41. I Pandey (2004). Management of Inventory: Financial Management.
  42. K Prempeh (2015). The Impact of Efficient Inventory Management on Profitability: Evidence from Selected Manufacturing Firms in Ghana, Munich Personal.
  43. A Rahemen,M Nasr (2007). Working Capital Management and Profitability: The Case of Pakistan Firms.
  44. H Richmond (2000). Purchasing and Inventory Management.
  45. G Sekeroglu,M Altan (2014). The relationship between inventory management and profitability: A comparative research on Turkish firms operated in weaving industry, eatable industry, wholesale and retail industry.
  46. S Sharma (2004). Material Management and Material Handling.
  47. E Udofia (2006). Fundamentals of social science Statistics.
  48. P Stephen,Mary Robbins,Neharika Coulter,Vohra (2010). Management.
  49. R Wild (1979). Production and Operations management.

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel. 2020. \u201cInventory Management, Organizational Operations and Productivity in Nigerian Companies: A Panacea for Profitability\u201d. Global Journal of Human-Social Science - H: Interdisciplinary GJHSS-H Volume 20 (GJHSS Volume 20 Issue H6): .

Download Citation

Issue Cover
GJHSS Volume 20 Issue H6
Pg. 31- 56
Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

Keywords
Classification
GJHSS-H Classification: FOR Code: 150199
Version of record

v1.2

Issue date

July 2, 2020

Language
en
Experiance in AR

Explore published articles in an immersive Augmented Reality environment. Our platform converts research papers into interactive 3D books, allowing readers to view and interact with content using AR and VR compatible devices.

Read in 3D

Your published article is automatically converted into a realistic 3D book. Flip through pages and read research papers in a more engaging and interactive format.

Article Matrices
Total Views: 2429
Total Downloads: 1091
2026 Trends
Related Research

Published Article

This study examines the effect of inventory management on organizational operations, productivity, as a means of causing the profitability of companies. The study was, therefore designed to study how the manufacturing firms managed their inventory materials. We used questionnaire in collecting our data. The data collected was analysed using spearman’s rank-order correlation coefficient and the Pearson product-moment correlation coefficient. The findings indicated that the method used by 7Up Bottling Company to manage their inventories in both raw materials and the finished product was efficient as the amount of naira saved in the course of purchase have more effect on the profitability of the company during production/ selling of the finished goods. Controlled purchasing is found to be costeffective. The study recommends the following: an adoption and application of the economic order quantity (EOQ) model to save cost and make the operations more efficient.

Our website is actively being updated, and changes may occur frequently. Please clear your browser cache if needed. For feedback or error reporting, please email [email protected]

Request Access

Please fill out the form below to request access to this research paper. Your request will be reviewed by the editorial or author team.
X

Quote and Order Details

Contact Person

Invoice Address

Notes or Comments

This is the heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

High-quality academic research articles on global topics and journals.

Inventory Management, Organizational Operations and Productivity in Nigerian Companies: A Panacea for Profitability

Past. Dr. Abomaye-Nimenibo
Past. Dr. Abomaye-Nimenibo Obong University
Williams Aminadokiari Samuel
Williams Aminadokiari Samuel
Godwin Mbang Timothy
Godwin Mbang Timothy

Research Journals