ABSTRACT
It has been generally accepted that for any organization to produce and satisfy its
stakeholders, such organization must have good management team that
manages the resources of the organization using some laid down rules. In
manufacturing concerns, inventories constitute a greater proportion of assets.
The management of inventories usually involves a lot of problems which range
from the right tome to place order to maximization of profits for the stakeholders.
Thus, the research undertaken this research work entitled. Evaluation of
usefulness of inventory management. A study of some selected Beverage
Companies including: Coca-Cola Nigeria Plc, Pepsicola Nigeria Plc and Nigeria
Mineral Water Industries Limited.
The objective of this work includes: To determine whether profit is maximized
and cost minimized due to the application of the efficient inventory management.
To determine also whether manufacturing concerns in our country manage
inventories effectively by using inventory management techniques e.g. Economic
Lot Size, Just-in-Time etc.
Data were collected using questionnaire method, and were analyzed using chisquare
(X2) Pearson product moment, correlation co-efficient (r) and regression
analysis.
The result therefore shows that they place order at the right time and right
quantity overcoming the setbacks of lead time. The companies also minimize
costs of holding inventories and maximize their profits. The findings showed that
manufacturing concerns in Nigeria meet the target requirement of their
customers, stakeholders, and the society where they operate.
The research recommends that: all staff of the manufacturing concerns should be
made to have the thorough knowledge of inventory management as this will
enable them to work towards their stock protection and cost minimization. The
manufacturing concerns should get the recent developed software on inventory
management and use to update their knowledge of inventory management on
regular bases.
