What Difference Does Inventory Control Make In Typical Small – Scale Farms’ Profitability?

Author(s)

Dr Anene, Edwin C. ,

Download Full PDF Pages: 01-05 | Views: 310 | Downloads: 96 | DOI: 10.5281/zenodo.3457703

Volume 3 - October 2014 (10)

Abstract

An analysis was made from results of five purposively selected unlisted livestock farms in Ibadan, South-west, Nigeria to examine the relationship between inventory control(IC) and profitability (an important aspect of performance). Its impact on profitability was also examined. Profitability was found to be positively and very strongly (r = 0.82) related to inventory control. Also, IC impacted well on profitability (r2 = 0.67 or 67% and t = 2.49), having accounted for the upward of 67% of the income in profitability. 

Keywords

Inventory Control, Profitability, Small – Scale Industries, Correlation Co-efficient, Co-efficient of Determination. 

References

  1. Bronack. T. (2012) Inventory Management System. McGraw Hill, New York.
  2. Nahmis, S. (2009). Production and Operations Analysis, Latest Edition, Irwin, Chicago.
  3. Rifzman, L.P. and Krajewski, L.J. (2006) Foundations of Operations Management, Prentice Hall, Upper Saddle River, NJ.
  4. Wild, T. (2006) Best Practices in Inventory Management, Wiley, New York
  5. Zipkin, P.H. (2000) Foundations of Inventory Management . McGraw Hill, New York.
  6. Harrington, T. (1990); Implementing an Effective Inventory Management System. International Journal of Physical Distribution and Logistics Management. Vol. 20 (9) pp. 17- 23. (Emerald Gp. Pub. Ltd. Bradford, UK)
  7. Goonatilake, P.C. (1984). Inventory Control Problems in Developing Countries: International of Production Management. Vol. 4(4), pp. 57-64 (Emerald Gp. Pub. Ltd. Bradford, UK)
  8. Rieva, L. (2010) Start Your Own Business: The only Start-up Book you will ever need. Entrepreneur Press, IRVINE; USA.
  9. Eroglu, C. and Hofer, C (2014). The effect of environmental dynamism on returns to inventory leanness. Journal of Operrations Management, Vol. 32(6); pp. 347-356. Elsevier Publishers.
  10. Hmida, B. (2013) Inventory Management and Maintenance in Offshore Vessel Industry. Journal of Industrial Engineering. Vol. 2013 pp 1-7. Hindawi Publishing Corporation, Nasr. City, Egypt.
  11. Koumanakos, D.P. (2008); The effect of Inventory Management on Firm Performance, International Journal of Productivity and Performance Management Vol. 57 (5), pp. 355 – 369.
  12. Awan, M.T. and Ahmad, H. (2013): Does Working Capital Make a Difference? International Journal of Management Sciences and Business Research, ISSN (2226-8235). Vol. 3, Issue 1.
  13. Wild, R. (1998); Production and Operations Management. 5th Edition Cassell, New York. 

Cite this Article: