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Inventory control can be defined as an art and science of achieving the objectives of inventory in an organization. It involves planning, organizing, staffing controlling and cocoordinating all the inventory operational activities for the provision of efficient services.
Figure 6: Inventory control management enhance organization profitability Table : When inventory control is neglected, cost incurred by the company will be higher Variables No of Respondents % of Respondents Strongly Agree 20 40 Agree 23 46 Undecided 7 14 Disagree Strongly Disagree Total 50 100
explained by change in inventory control practices. The rest % can be explained by other factors that are not in the model. The ANOVA results on inventory control practices and profitability had an Fvalue of was significant with a P value =
Impact of Inventory Control on the Profitability of the Organizations 8 There are also hidden costs that come with inventory storage which may harm the prospects of the firm and its profitability. For instance, when a firm holds a lot of inventory, some of them may become obsolete. Hence, whereas the items will still be available in the warehouse, they are useless for the purpose for which
The ANOVA results on inventory control practices and profitability had an Fvalue of was significant with a Pvalue = meaning that the overall model was significant in the
By segmenting SKUs based on their demand, inventory turnover and their profitability you can get a much greater insight into controlling your stock levels. 3. Set stock level control policies. Inventory policies ensure youre stocking the right goods in the right quantities a must for good inventory control in the warehouse.
Return on Equity was used as a proxy for profitability, while inventory conversion period was used as a proxy for inventory management; meanwhile, current ratio represented the control variable.
#0183;#32;Inventory Control And Its Impact On Profitability (A case study of Turners Building Product (Arewa) Ltd Kaduna) CHAPTER I: Introduction Background of the Study Inventory control is an extension of stores keeping and it has been in practice for a long time. It has a wide scope of activities today. Inventory control is an act of safe keeping some valuable items for future use and t...
Questionnaires were used to elicit the views of the respondents on whether inventory control has effect on the profitability of a business organization. Correlation coefficients were used in analyzing the data collected. Some of the problems facing soft drinks companies are those of procurement of raw materials, inventory management and control.
Inventory Control Effect on Profitability of a Business. showed that inventory control affects the profit position of the company significantly Also result revealed dicates that inventory control determines when goods that have been exhausted from the store so that replacement can be made and that inventory control system of any organization will eventuallyaffect the success of that organization
Inventory control decidedly gives impact to the cost and profitableness for an organisation. Therefore, we must place the type of stock list in our warehouse, whether they are good, bad or ugly in term of profitableness and dead or slowmoving in term of continuance of carrying.
#0183;#32;Inventory control can be defined as an art and science of achieving the objectives of inventory in an organization. It involves planning, organizing, staffing controlling and cocoordinating all the inventory operational activities for the provision of efficient services.
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