IMPACT OF INVENTORY MANAGEMENT ON PERFORMANCE OF MANUFACTURING COMPANY IN NIGERIA (A STUDY OF DANGOTE CEMENT COMPANY BENUE STATE)

This research work on the Impact of inventory management on performance of manufacturing company in Nigeria was carried out to ascertain the contributions of inventory management to the performance of firms. The problem that necessitated the study is that most firms do not see the need for inventory management. Proper stock taking/recording is seen as a waste of resources and time. Research questions were structure from were hypotheses were formulated to guide the researcher. Current literature by scholars were reviewed to explain in the theory the importance of inventory management. Survey method was adopted as a research design for the work and the staff of Dangote cement in Benue state formed the population from where a sample of fifty (50) respondents was drawn using the simple random sampling methods. Simple percentage was used for data analysis and the chi-square statistical tool used for hypothesis testing at 5% level of significance. The findings of the study were that there is a significant relationship between inventory between inventory control and logistics management. It was found that inventory management is a big part of profit planning for manufacturing and merchandising companies. Inventory management helps in the planning, coordinating and controlling activities related to the flow of inventory into, through and out of an organization. It was then recommended that firms should use any of the inventory management methods in managing their inventories.