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Interdependence Among Inventory Types and Firm Performance
Open accessAbstract
Extant research on lean manufacturing has focused on the relationship between systemic inventory and performance.However, limited research, if any, has focused on dynamics between three main types of inventory -raw material, workin-process, and finished goods -and firm performance.Drawing on the interdependence framework and a sample of 1,286 firms representing 41,067 firm-quarter observations from 2000 to 2013, when considering two types of inventory efficiencies jointly, higher efficiency in the subsequent inventory type must be accompanied by lower efficiency in the previous inventory type.In other words, lower raw material inventory efficiency and higher work-in-process inventory efficiency, or lower work-in-process inventory efficiency and higher finished goods inventory efficiency are associated with higher performance.High performance is also realized only when inventory efficiency is increasing across all three inventory types.The findings show that pursuing efficiency in one type of inventory requires lower efficiency in the previous inventory stage, and benefits of lean manufacturing could only be realized when all three inventory efficiencies are simultaneously high.
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“FIN negatively impacts the financial performance of industrial manufacturing firms, contrary to the study by Manikas (2017).”
From The impact of inventory management on Vietnam's industrial firm performance: A double-threshold regression approach (2025) · cites this paper as Manikas (2017)
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Metadata
- Authors
- Manikas, A. S.
- Affiliations
- University of Louisville (US)
- Corresponding author
- Manikas, Andrew S.
- ORCID
- Manikas, Andrew S.
- Venue
- Operations and Supply Chain Management: An International Journal
- Publisher
- OSCM Forum
- Published
- 2017-03-17
- Pages
- 63-80
- ISSN
- 2579-9363 (ISSN-L)
- OpenAlex
- W2883874874
- Cited by
- 16
- References
- 43
- Citations by year
- 2025: 4 · 2023: 2 · 2022: 2 · 2021: 5 · 2020: 2 · 2019: 1
- FWCI
- 1.24
- Type
- journal article
- Language
- en
- Open access
- diamond
- doi.org
- Locations
- Operations and Supply Chain Management An International Journal (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Management Information Systems › Quality and Supply Management
- Social Sciences › Decision Sciences › Management Science and Operations Research › Supply Chain and Inventory Management
- Social Sciences › Business, Management and Accounting › Accounting › Working Capital and Financial Performance
- Keywords
- lean manufacturing, inventory efficiency, raw material inventory, work-in-process inventory, finished goods inventory, firm performance, inventory management
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