Good managers carefully control inventory because it may represent a large part
of the assets of the business.
So effective inventory management system is important for business organization
in their growth and survival, in manufacturing business where there are three
major types of inventories: -
Raw materials, goods in process of manufacture, and finished goods, all three
classes of inventory are included in the current asset section of the balance
Therefore if the costs are not controlled through proper inventory management
systems the costs of production will go higher leading to low profits.
The study was aimed at;
" Establishing the relationship between inventory management systems and
profitability of the company.
• Establishing the inventory management systems in the company.
• Establishing inventory control in the company.
The study examined inventory management using a sample of 28
respondents using the questionnaire method of data collection and results
revealed that the inventory management system itself was not effective in the
company hence total cost of production leading to low profits of the company.
It was concluded that inventory management in the company need
improvement in areas noted, like storage, and recommendations included
computerization of the stores, segregation of duties, perpetual stock taking and training of staff.
Adegbulu, A. (2021). Inventory Management And Profitability In New Vision Printing And Publishing Company. Afribary. Retrieved from https://afribary.com/works/inventory-management-and-profitability-in-new-vision-printing-and-publishing-company
Adegbulu, Adebusola "Inventory Management And Profitability In New Vision Printing And Publishing Company" Afribary. Afribary, 12 Jun. 2021, https://afribary.com/works/inventory-management-and-profitability-in-new-vision-printing-and-publishing-company. Accessed 04 Aug. 2021.
Adegbulu, Adebusola . "Inventory Management And Profitability In New Vision Printing And Publishing Company". Afribary, Afribary, 12 Jun. 2021. Web. 04 Aug. 2021. < https://afribary.com/works/inventory-management-and-profitability-in-new-vision-printing-and-publishing-company >.
Adegbulu, Adebusola . "Inventory Management And Profitability In New Vision Printing And Publishing Company" Afribary (2021). Accessed August 04, 2021. https://afribary.com/works/inventory-management-and-profitability-in-new-vision-printing-and-publishing-company