THE IMPACT OF GOOD INVENTORY MANAGEMENT ON THE PROFITABILITY OF MANUFACTURING COMPANIES. (A CASE STUDY OF ALUMINUM EXTRUSION INDUSTRIES PLC INYISHI)
Abstract
The research work investigated “the impact of good inventory management on the profitability of manufacturing companies”. The data for the study were collected with the aid of questionnaire. Text books and journal were equally consulted. The data were analyzed by using tables and percentage. ANOVA was used to test the hypothesis formulated. The result obtained reviews that; There is a significant relationship between effective inventory management and effectiveness of manufacturing companies, and also, inventory management has an effect on the profitability of manufacturing companies. It was recommended that, manufacturing companies should adopt the inventory management that best suit their mode of operation because this varies in various manufacturing organization. The research work went further to recommend that for effective inventory management, closing inventory should be measured at “the lower the cost or net realizable value (NRV)” as required by IAS2: inventories. Management should closely monitor in order to ensure that their inventory system maintain production consistency for organizational effectiveness
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