E-commerce Adoption on Inventory Management for Manufacturing Companies in Nigeria: An Econometric Study | Chapter 6 | Business, Management and Economics: Research Progress Vol. 3

 

Electronic commerce, otherwise known as e-commerce is increasingly evolving itself into a dynamic force changing the logistics activities within the Nigerian manufacturing industry. Inventory management is an essential element of supply chain management, involving the supervision and control of the order, storage, and utilisation of components essential for production, as well as the management of finished products awaiting sale. The study examined the effect of Business-to-Business E-commerce adoption on inventory management using manufacturing companies in Nigeria under the category of consumer goods as a case study. Inefficient inventory management leading to a rise in costs and a decrease in customer satisfaction level is one of the major challenges encountered by Nigerian manufacturing companies but this can be resolved through the implementation of e-commerce hence the study focussed on inventory management variables which are; inventory accuracy, stockout frequency, inventory turnover rate, demand forecasting accuracy, storage optimisation, inventory holding costs, supplier reliability, inventory audit frequency, obsolete inventory and inventory replenishment. The explosion of e-commerce in the logistics sector has posed a challenge that must be effectively managed to sustain the volume of goods across long distances, the interface between e-commerce and in particular inventory management, for instance via stocks and warehousing has become so important to be overlooked. The study was carried out in Nigeria and the population of the study includes staff of 20 manufacturing companies listed on the Nigerian Stock Exchange as of 2023. A simple random sampling technique was used to select 718 respondents. Data was collected through a structured questionnaire and was analysed using both one-sample t-test analysis and multivariant regression analysis. E-commerce has a positive and significant effect on stockout frequency (P = 0.000), inventory turnover rate (P=0.000), demand forecasting accuracy (P=0.000), storage optimisation (P=0.000), and inventory replenishment (P=0.000). The findings revealed significant improvements in inventory accuracy, reduced stockout frequency, increased inventory turnover rate, and improved demand forecasting accuracy. Evidently, these findings imply that the adoption of e-commerce is essential in optimising inventory management processes and thus recommends that manufacturing companies should further utilise digital tools to enable better forecasting in inventory management and efficient stock handling in order to efficiently track stock levels, enhance demand forecasting and then improve the overall inventory control.

 

Author(s) Details

 

Omorinde O. A.
Department of Transport Management, Ladoke Akintola University of Technology, Ogbomoso, Oyo State, Nigeria.

 

Ayantoyinbo B. B.
Department of Transport Management, Ladoke Akintola University of Technology, Ogbomoso, Oyo State, Nigeria.

 

Dosunmu V. A.
Ogbomoso, Oyo State, Nigeria.

 

Please see the book here:- https://doi.org/10.9734/bpi/bmerp/v3/1476

Leveraging Postponement Strategies for Competitive Advantage in the Automobile Industry | Book Publisher International

 This book explores the successful implementation of postponement strategies in the competitive automobile industry. By delaying product differentiation until closer to the point of sale, automotive companies can enhance operational efficiency, reduce costs, and provide superior customer responsiveness. The book provides a comprehensive understanding of postponement strategies' impact on supply chain management, manufacturing processes, distribution channels, and overall business performance. It offers practical guidance and a strategic roadmap for sustained success in the global marketplace.

 

The importance of postponement strategies is increasingly evident as the automotive industry evolves and faces new challenges. By leveraging postponement, companies can tailor their products to meet specific customer needs and preferences, creating a personalised and satisfying experience for their clients. The book examines the various impacts of postponement strategies throughout the entire supply chain, highlighting their influence on manufacturing processes, distribution channels, and overall business performance.

 

The book also offers a strategic roadmap for sustained success in the automotive industry, providing executives, managers, researchers, and practitioners with practical guidance on leveraging postponement strategies to achieve a sustainable competitive advantage. By understanding the intricacies of postponement implementation, readers can effectively streamline operations, minimise costs, and maximise customer satisfaction.

 

Author(s) Details

Dr. Polycarpe Feussi
University of Johannesburg, South Africa.

 

Prof. Charles Mbohwa
University of Johannesburg, South Africa.

 

Dr. Emmanuel Innocents Edoun
University of Johannesburg, South Africa.

 

 Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48006-65-3

Performance of Procurement and Inventory Management of Hospital Materials: Case of a Taiwanese Medical Centre | Chapter 3 | Current Topics and Emerging Issues in Materials Sciences Vol. 1

 The purpose concerning this research is to analyze current procurement and inventory administration practices and to improve stock policies for the central stockroom and industrial station. The primary aim of material procurement and inventory administration in healthcare organizations search out reduce supply costs while upholding patient care quality. In general, there are two habits to keep supply levels fixed: Joint procurement and direct purchase from the point valuable. In the case of joint procurement, the connected point of use will place an order accompanying the central warehouse. The alternative habit is for each area to place the order directly accompanying the supplier. To keep the aid running, new order policies must be executed. In the present investigation, we delimit a performance rhythmical, the supply-demand ratio, to evaluate the efficiency of inventory administration and procurement processes.  The smooth way search out set up a high stock level to avoid and deficiency. The new strategy allows for a important reduction in property held expenses, worthless stock, and space usage while still asserting service levels.

Author(s) Details:

Chuang-Chun Chiou,
Department of Industrial Engineering and Enterprise Information, Tunghai University, No. 1727, Sec. 4, Taiwan Blvd., Xitun District, Taichung City-407, Taiwan.

Yi-Cheng Liu,
Department of Industrial Engineering and Enterprise Information, Tunghai University, No. 1727, Sec. 4, Taiwan Blvd., Xitun District, Taichung City-407, Taiwan.

Ming-Bo Chiu,
Department of Industrial Engineering and Enterprise Information, Tunghai University, No. 1727, Sec. 4, Taiwan Blvd., Xitun District, Taichung City-407, Taiwan.

Please see the link here: https://stm.bookpi.org/CTEIMS-V1/article/view/10310

A Case Study of Employee Selection on Channel| Chapter 8 | New Innovations in Economics, Business and Management Vol. 6

Inventory management at Channel I will be taken into account in this study. The goal of this study is to figure out how a corporation manages its inventory, which is the most important aspect in the costing process. The Impress Group of Companies owns Channel I. This company, which was founded in 1985, was extremely successful in generating demand for its products, resulting in the justification of local manufacturing. Channel I is now one of the country's largest and fastest-growing diverse business houses, employing over 10,000 employees. By using company strengths and importing better product marketplaces and brands, Channel I has a strong market focus and expects ongoing future growth. It is primarily involved in creating a stable market for imports in Bangladesh. To accommodate future demand, the corporation committed more than $50 million. Inventory management aids the company in determining which and how much merchandise to order when. Inventory, in accounting terms, refers to component components and raw materials that a company utilises in manufacturing or sells, as well as work-in-progress and storage. In the form of goods or supplies that will be used in the manufacturing process or to provide services.

Author(s) Details:

Oroubah Ali Rabah Mahmoud,
Finance and Banking Department, Alquds University, Abu Dis, Palestine.

Please see the link here: https://stm.bookpi.org/NIEBM-V6/article/view/6198