Year: 2024 | Month: July | Volume: 11 | Issue: 7 | Pages: 555-569
DOI: https://doi.org/10.52403/ijrr.20240758
Inventory Management Practices and Organizational Performance in Phinorma Poultry Farm Nig Ltd Ngwo Enugu
Onyemachi Chidinma Adanso1, Adaora Chinelo Uzochukwu (Ph. D)2, Onodugo Ifeoma Joanes (Ph. D) 3
1,2,3 Department of Management, University of Nigeria, Enugu Campus Nigeria
Corresponding Author: Adaora Chinelo Uzochukwu (Ph.D)
ABSTRACT
The study assessed the effect of inventory management practices on organizational performance in Phinorma Poultry farm Nig LtD Ngwo Enugu (Igwe Anyalogu Poultry farm Ngwo Enugu. Specifically, the study sought to assess the effect of economic order quantity (EOQ) inventory practice on operational effectiveness in Phinorma Poultry farm Nig LtD Ngwo Enugu and ascertain the effect of just-in-time (JIT) inventory practice on cost effectiveness in Phinorma Poultry farm Nig LtD Ngwo Enugu. The sample size of 88 staff was drawn from 120 employee of Phinorma Poultry farm Nig LtD Ngwo Enugu. Research questions of the study were answered using mean score and standard deviation. The hypotheses stated were tested using regression analysis. The empirical findings of the study show that Economic order quantity (EOQ) inventory practice has significant effect on operational effectiveness in Phinorma Poultry farm Nig LtD Ngwo Enugu (t – statistics (5.887); P-values (0.000) < Sig-value 0.05) and Just-in-time (JIT) inventory practice has significant effect on cost effectiveness in Phinorma Poultry farm Nig LtD Ngwo Enugu (t – statistics (6.446); P-values (0.000) < Sig-value 0.05). The study recommended that management of Phinorma Poultry farm Nig LtD Ngwo Enugu should closely monitor and manipulate their inventory system to maintain production consistency for organizational profitability and effectiveness. Management of Phinorma Poultry farm Nig LtD Ngwo Enugu should provide and maximize space for timely delivery to avoid staying off production.
Keywords: Inventory Management practices; Economic order quantity (EOQ) inventory practice and Just-in-time (JIT) inventory practice
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