Impact of inventory management practices on firm and organizational performance - case study of PZ industry plc Department: Purchasing and Supply By: Eniolamoses Project ID: 8760 Rating: (5.0) votes: 1Rate this project12345 Price:₦4000 Get the Complete MaterialAbstractInventory management is one of the most important functions of manufacturing firms. The manufacturing companies operating in Nigeria are facing the problem of determining the appropriate inventory level that should be kept to ensure that customer needs are met and the production process is not interrupted. Striking a balance between overstocking and running out of stock has been a serious challenge to the manufacturing companies in Nigeria. As a result of the negative effects of inventory shrinkage, poor management and control of inventories, operations are hampered, customers are dissatisfied and a consistent drop in the productivity of the companies are recorded. This study examined the benefits and challenges of effective inventory management in an organization. The study adopted a cross-sectional survey and a causal research design. The target population comprised the staff of the PZ industries. A stratified random sampling technique was used to select the sample size. A structured self-administered survey questionnaire will be adapted, validated and used for collecting data for the study. The study concludes that inventory management practices significantly influenced the operational performance of PZ Industries in Nigeria. It recommended that companies ensure that stocks are sufficient to meet production requirements and customer demands at all times and avoid holding unnecessary surplus stocks that might increase holding costs and thus ensure enhanced customer satisfaction. ...Preview Download Preview +Other Purchasing and Supply project topics and materials you might be interested in»The impact of material management on organization productivity»The role of physical distribution function in a manufacturing company (A case study of 7up bottling company Aba) »The impact of new product development on performance of commercial banks in Nigeria (a case study of three banks in Owerri) »Stock control: a tool for the attainment of organizational objectives in a manufacturing company (a case study of PZ industry Aba, Abia state) »The need for efficient supply management in the public sector (a case study of ministry of finance Imo state)»The need for effective stock control in an organization (a case study of Jacobs wine limited, Mgbidi)»The impact of manpower training and development on purchasing personnel in the manufacturing industry (a case study of PZ Cussons plc)»The impact of the application of health and safety regulations in stores (a case study of consolidated brewery, Awo-Ommama) »The need for training and development of suppliers personnel in the public sector (a case study of ministry of agriculture and natural resources) »Impact of store functions on achieving organizational objectives»Effective purchasing planning as a cost reduction tool in the manufacturing industry»The role and contribution of purchasing and supply in the profitability of an organization - a case study of Nigerian Bottling Company Plc, Owerri»Impact of stock taking as a control measure in a manufacturing company»The roles of effective distribution channels on customers satisfaction»The impact of effective and efficient stock control in a manufacturing organization