Tag Archives: Inventory Management

The Effect of Information Technology on Inventory Management for the Manufacturing Companies in Mogadishu (Published)

The researcher studied for this article the effect of information technology on inventory management for the manufacturing companies in Mogadishu. The objectives of this study were to determine the information technology systems uses for inventory management by the manufacturing companies in Mogadishu and to examine the effect information technology on inventory management in Mogadishu manufacturing companies. The data was collected by using questionnaire and analyzed by descriptive statistics in SPSS for 86 respondents. The study found out that EPOS and EDI is the information technology that mostly the manufacturing companies in Mogadishu uses for inventory management and also the study shows that information technology effects the inventory management of the company.

Keywords: Information Technology, Inventory Management

Lead Time Uncertainties, Average Inventory and Scheduling Practice On Manufacturing Firms in Nigeria (Published)

This study examined lead time uncertainties, average inventory and scheduling practice on manufacturing firms in Nigeria. A survey design was adopted, where we identify the population of manufacturing firms and by a purposive sampling procedure, we used twenty (20) manufacturing firms in Port Harcourt, Nigeria. The research instruments used were the questionnaire and oral interview of key personnel in the production, marketing and material management departments. We collected 16 completed questionnaires that give an 80% response rate. The data were analysed in presenting answers to the research questions. We used the statistical tools of the mean, standard deviation, covariance in determining lead time and the weighted mean percentage inventory (WMPI) and weighted mean percentage stock out (WMPS) in determining the inventory profile and the incidence of stock out respectively in both the uniform and fluctuating schedules of product manufacture.From the findings; the calculated WMP1 and the calculated WMPS are higher in fluctuating schedules with 8% and 9% respectively as compared to the low inventory and stock out levels in uniform schedules of calculated WMPI and WMPS of 9% and 6% respectively. Thus production scheduling plays a chief role in improving the overall performance of any company in regards of increased output improved on time delivery and also improved balancing of the production line. Due to the economic view of inventory costs to the overall production activity, we recommend from the results that a uniform production schedule fined tune to holding a small manageable inventory is preferred.

Keywords: Demand Uncertainty, Inventory Management, Lead Time, Scheduling

A Case for Government-Industry Policy on Inventory Management Technology for Enhanced Productivity and GDP Growth Rate in Nigeria (Published)

Today’s development is not possible without advanced technology. In the area of manufacturing, technology is quickly changing the way in which stock is handled and controlled for enhanced productivity. Sophisticated information gathering systems can track items from the purchase order to the final customer on the sales chain. Automation can dramatically impact all phases of inventory management, including counting, monitoring, recording and retrieval of items, storage location; recording changes to inventory; and anticipating inventory needs, including inventory handling requirements. The manufacturing and retail industries, worldwide, have created standards to take advantage of new technologies and computerized systems such as the Radio Frequency Identification (RFID), barcodes, vending machines, warehouse technology management system, etc. All these provide accurate inventory information on a constant basis thus, enhance organisation’s productivity and increase its competitive edge over companies that are slow to take advantage of these new technologies. Finding the position of Nigerian manufacturing firms in this equation was the major focus of the study. Results indicated poor performance. Based on that, a case for government-industry policy framework that will make it mandatory for manufacturers in Nigeria to use technology-based inventory management system for enhanced productivity and GDP growth was made by the authors.

Keywords: GDP growth, Industry Policy, Inventory Management, Productivity, Technology

Government-Industry Policy on Inventory Management Technology for Enhanced Productivity and GDP Growth Rate in Nigeria (Published)

Today’s development is not possible without advanced technology. In the area of manufacturing, technology is quickly changing the way in which stock is handled and controlled for enhanced productivity. Sophisticated information gathering systems can track items from the purchase order to the final customer on the sales chain. Automation can dramatically impact all phases of inventory management, including counting, monitoring, recording and retrieval of items, storage location; recording changes to inventory; and anticipating inventory needs, including inventory handling requirements. The manufacturing and retail industries, worldwide, have created standards to take advantage of new technologies and computerized systems such as the Radio Frequency Identification (RFID), barcodes, vending machines, warehouse technology management system, etc. All these provide accurate inventory information on a constant basis thus, enhance organisation’s productivity and increase its competitive edge over companies that are slow to take advantage of these new technologies. Finding the position of Nigerian manufacturing firms in this equation was the major focus of the study. Results indicated poor performance. Based on that, a case for government-industry policy framework that will make it mandatory for manufacturers in Nigeria to use technology-based inventory management system for enhanced productivity and GDP growth was made by the authors.

Keywords: GDP growth, Industry Policy, Inventory Management, Productivity, Technology