Effects of Inventory Management Systems on Performance of Manufacturing Companies in Eldoret Town, Kenya
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Research Paper (undergraduate) from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 0.78, , course: Degree in Procurement Logistics and Supply Chain Management, language: English, abstract: Manufacturing companies' managers are familiar how inventory plays in running of organization operations. In most manufacturing companies, direct materials help in the production process hence affecting company performance. Poor inventory management systems lead most of finished goods to stay in the store before being delivered to its final consumption hen...
Research Paper (undergraduate) from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 0.78, , course: Degree in Procurement Logistics and Supply Chain Management, language: English, abstract: Manufacturing companies' managers are familiar how inventory plays in running of organization operations. In most manufacturing companies, direct materials help in the production process hence affecting company performance. Poor inventory management systems lead most of finished goods to stay in the store before being delivered to its final consumption hence affecting organization performance. It is against this background that the study examined effect of inventory management systems on performance of manufacturing companies in Eldoret Town, Kenya.The specific objectives of the research were: to examine effect of Material Requirement Planning (MRP) on manufacturing companies performance in Eldoret Town, Kenya; to assess effect of Distribution Resource Planning (DRP) System on performance of manufacturing companies in Eldoret Town, Kenya; to determine effect of Vendor Managed Inventory (VMI) system on performance of manufacturing companies in Eldoret Town, Kenya; and to evaluate effect of Just in Time (JIT) System on performance of manufacturing companies in Eldoret Town, Kenya.The study was guided by Adaptive Structuration Theory (AST), Theory of inventory and production and Lean theory. A cross sectional research design was used. The target population comprised of 47 top level management, 45 middle level management (stores, production, supply chain, finance, ICT, material handling department, sales and marketing, transport, total quality management) and 1032 employees working in the departments of the manufacturing companies in Eldoret Town totaling to 1124 respondents. The study selected 383 respondents using simple random sampling technique while both structured and unstructured questionnaire were used as research instrument. Quantitative analysis was used in analyzing and interpretation of data with the help of inferential and descriptive statistics. The study found out that Material Requirement Planning (MRP) affects manufacturing companies performance in Eldoret Town, Kenya with p=0.048. It was reported that Distribution Resource Planning (DRP) System affects performance of manufacturing companies in Eldoret Town, Kenya with p=0.000. It was found that Vendor Managed Inventory (VMI) system affects performance of manufacturing companies in Eldoret Town, Kenya with p=0.000. In addition the study revealed that Just in Time (JIT) System affects performance of manufacturing companies in Eldoret Town, Kenya with p=0.000.
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