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Inventory Management: An Impetus for Increased Profitability in Manufacturing Firms
Open accessAbstract
This study evaluated the degree of relationship between inventory management and profitability of manufacturing firmsin Nigeria. International Breweries Plc was adopted as case study. Secondary data were sourced from the company’s annual reports for the period of 10 years. A simple linear regression model was specified to test the correlation between variables used. Stock turnover ratio was used to capture the relationship between costs of sales incurred in generating total revenue and the inventory utilized in for production and distribution. The result generated from the study showed that the company operates an efficient Inventory Management System which has strong influence on its profitability. The correlation coefficient (r) was 85.3% while r2 was 72.7%. The study concluded that the efficient inventory management contributed significantly to profitability of manufacturing companies. The study recommended that manufacturing firms should focus on improving on their inventory management system by adopting a more efficient approach in utilizing inventory items.
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“The findings demonstrated that inventory management had a significant impact on International Breweries PLC's profitability in Nigeria.”
From Effect of Inventory Management and Financial Performance of Manufacturing Firms in Nigeria (2023) · cites this paper as [2]
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“Kolawole, Akomolafe, and Olusipe [2], used International Breweries PLC as a case study to assess the link between inventory control and manufacturing companies' profitability in Nigeria.”
From Effect of Inventory Management and Financial Performance of Manufacturing Firms in Nigeria (2023) · cites this paper as [2]
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Research works printed but not linked: 15
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- Adu-Bobi, K. A (2009). An Evaluation of Inventory Management Practices in Soap Manufacturing Firms in Ghana: the Case of Appiah -Menka Complex Ltd, Kumasi, Institutional Repository for Kwame Nkurumah University of Science and Technology (KNUST), Retrieved from http://hdl.handle.net/123456789/913.
- Atnafu, D., & Balda, A. (2018). The impact of inventory management practice on firms' competitiveness and organizational performance: Empirical evidence from micro and small enterprises in Ethiopia. Cogent Business & Management, 5 (1), 1503219.
- Heyl, J. (2011). Inventory Management, Operation Management Strategy Decisions. Pearson Education Inc., publishing as Prentice Hall.
- Imeokparia, L. (2013). Inventory Management System and Performance of Food and Beverages Companies in Nigeria. IOSR Journal of Mathematics (IOSR-JM) Volume 6, Issue 1, PP 24-30. Retrieved from http://www.iosrjournals.org/iosr- jm/papers/Vol6-issue1.
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- Leung, N. H. Z., Chen, A., Yadav, P., & Gallien, J. (2016). The impact of inventory management on stock-outs of essential drugs in Sub-Saharan Africa: secondary analysis of a field experiment in Zambia. PloS one, 11 (5), e0156026.
- Lucey, T. (2003), Costing, 5th Edition. London: AshfrodColour Press.
- Rajeev, N. (2008). Do inventory management practices affect economic performance? An empirical evaluation of the machine tool SMEs in Bangalore.International Journal of Management Science and Engineering Management, Vol. 3 No 4, pp. 312-320.
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- Shen, H., Deng, Q., Lao, R., & Wu, S. (2016). A case study of inventory management in a manufacturing company in China. Nang Yan Business Journal, 5 (1), 20-40.
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Cited by
Sorted by citations
Effect of Inventory Management and Financial Performance of Manufacturing Firms in Nigeria
Ikechi, J., Chidi, U., Kelechi, N. C., & Mannaseh, O. (2023) · Asian Journal of Economics, Business and Accounting · doi:10.9734/ajeba/2023/v23i191069 · Cited by 4
“Kolawole, Akomolafe, and Olusipe [2], used”
Metadata
- Authors
- Daniel Kolawole, A., Busola Akomolafe, A., & Johnson Olusipe, B.
- Venue
- International Journal of Accounting, Finance and Risk Management
- Publisher
- Science Publishing Group
- Published
- 2019
- Volume
- 4
- Issue
- 4
- Pages
- 110
- ISSN
- 2578-9368 (ISSN-L)
- OpenAlex
- W2997352283
- Cited by
- 7
- References
- 0
- Citations by year
- 2026: 1 · 2025: 2 · 2024: 1 · 2023: 2 · 2022: 1
- FWCI
- 0.64
- Type
- journal article
- Language
- en
- Open access
- hybrid
- doi.org
- Licence
- cc-by
- Locations
- International Journal of Accounting Finance and Risk Management (publishedVersion, cc-by)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Social Sciences › Decision Sciences › Management Science and Operations Research › Supply Chain and Inventory Management
- Social Sciences › Decision Sciences › Management Science and Operations Research › Business Logistics and Inventory Control
- Keywords
- inventory management, profitability, manufacturing companies, stock turnover ratio, inventory management system, cost of goods sold
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