Open AccessInventory Management and Competitive Advantage of Contemporary Manufacturing Firms in Nigeria
Author(s) -
Olatunji Eniola Sule,
Joseph E. O. Oshi
Publication year - 2022
Publication title -
journal la bisecoman
Language(s) - English
Resource type - Journals
eISSN - 2721-124X
pISSN - 2721-0987
DOI - 10.37899/journallabisecoman.v3i1.568
Subject(s) - competitive advantage , business , inventory management , manufacturing sector , relation (database) , exploratory research , inventory theory , operations management , industrial organization , marketing , inventory control , economics , computer science , international economics , database , sociology , anthropology
This study examined the impact of inventory management in contemporary manufacturing firms in Nigeria. This was done in relation to how effective and efficient inventory management can be used to achieve a competitive advantage in any sector such manufacturing firm may belong. This study being both exploratory and theoretical, there was critical review of inventory management and competitive advantage. The study concluded that in pursuing cost leadership and differentiation as corporate strategies, inventory management must be effective and efficient. There were recommendations based on the findings, that manufacturing firms should be proactive on issues relating to production, creation of a distinct functional department in charge of inventory management and the consideration of the use of scientific approach to inventory management.