Inventory Management Practices and growth of Manufacturing Firms in Business Environment

Abstract

We see inventory management practices as strategies for every manufacturing industry business strategy. By investigating operational and functional efficiency practices that results in better performance, the above study looks at the efficient inventory management practices in the form of strategies that are beneficial for growth. The research consisted from 220 key officials of 8 selected manufacturing companies in India from inventory management experts. A series of statistical methods, notably correlation and regression, were used to find out the association between firm growth and the IM practices. This research proves that good inventory management will benefit an organization's economic performance. Study is in the line with RBV theory.