IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v9y2025issue-2p4249-4258.html
   My bibliography  Save this article

Inventory Management in Corporate Firms: Reasons for and Techniques

Author

Listed:
  • Godwin Chigozie Okpara

    (Department of Banking and Finance, Abia State University Uturu)

  • Okuu Kalu Okwuagwu

    (Department of Management, Abia State University Uturu)

Abstract

This paper aims at explaining and exposing the importance of inventory management in a corporate firm. In this work, the exposition of inventory as stock of various kinds such as raw materials, work in progress, maintenance, repairs and operating goods, finished goods and safety stocks incited the question of how and ways the inventories could be managed to achieve the optimal quantity and required profitability for engendering sustainable growth of the firm. In a bid to obtaining the optimal quantity, various costs associated with the inventory and the techniques of optimizing the quantity and minimizing the costs for effective management were elucidated. Thus, if the elucidated techniques are appropriately and religiously adopted, efficient inventory management and hence sustainable growth of the firms will be assured.

Suggested Citation

  • Godwin Chigozie Okpara & Okuu Kalu Okwuagwu, 2025. "Inventory Management in Corporate Firms: Reasons for and Techniques," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(2), pages 4249-4258, February.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-2:p:4249-4258
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-9-issue-2/4249-4258.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/inventory-management-in-corporate-firms-reasons-for-and-techniques/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Abdel-Kader, Magdy & Luther, Robert, 2008. "The impact of firm characteristics on management accounting practices: A UK-based empirical analysis," The British Accounting Review, Elsevier, vol. 40(1), pages 2-27.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ellen Haustein & Robert Luther & Peter Schuster, 2014. "Management control systems in innovation companies: a literature based framework," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 24(4), pages 343-382, February.
    2. Lucianetti, Lorenzo & Chiappetta Jabbour, Charbel Jose & Gunasekaran, Angappa & Latan, Hengky, 2018. "Contingency factors and complementary effects of adopting advanced manufacturing tools and managerial practices: Effects on organizational measurement systems and firms' performance," International Journal of Production Economics, Elsevier, vol. 200(C), pages 318-328.
    3. Luis Jesús Córdova-Aguirre & Juan Manuel Ramón-Jerónimo, 2024. "Designing a Sustainability Assessment Framework for Peruvian Manufacturing Small and Medium Enterprises Applying the Stakeholder Theory Approach," Sustainability, MDPI, vol. 16(5), pages 1-23, February.
    4. Joseph Mbawuni & Anderson Ronald Anertey, 2014. "Exploring Management Accounting Practices in Emerging Telecommunication Market in Ghana," Accounting and Finance Research, Sciedu Press, vol. 3(4), pages 1-71, August.
    5. Mahmoud Nassar & Lina Warrad & Yousef Abu Siam, 2017. "The Implementation of Enterprise Resource Planning System within Jordanian Industrial Sector," International Review of Management and Marketing, Econjournals, vol. 7(3), pages 179-187.
    6. Evdokia I. Tsifora & Prodromos D. Chatzoglou, 2016. "Exploring the effects of firm and product characteristics on cost system’s features," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 93-116.
    7. Ma?orzata Kucharczyk & Iwona Cie?lak, 2014. "The Issue Of Management Accounting In Small And Medium-Sized Enterprises," Proceedings of International Academic Conferences 0702301, International Institute of Social and Economic Sciences.
    8. Ziqing Xie & Dickson K. W. Chiu & Kevin K. W. Ho, 2024. "The Role of Social Media as Aids for Accounting Education and Knowledge Sharing: Learning Effectiveness and Knowledge Management Perspectives in Mainland China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2628-2655, March.
    9. Zouhour Ben Hamadi & Adrien Bonache & Philippe Chapellier & Abdallah Mohammed, 2011. "Les déterminants de la complexité des systèmes de données comptables des dirigeants de petites et moyennes entreprises : Une méta-analyse sur données individuelles," Post-Print hal-00646518, HAL.
    10. Janusz Nesterak & Marta Kołodziej-Hajdo & Michał J. Kowalski, 2023. "Controlling in the Process of Development of the Energy and Heating Sector Based on Research of Enterprises Operating in Poland," Energies, MDPI, vol. 16(2), pages 1-30, January.
    11. Cristiano Busco & Ariela Caglio & Robert Scapens, 2015. "Management and accounting innovations: reflecting on what they are and why they are adopted," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(3), pages 495-524, August.
    12. Khurram Ashfaq & Sohail Younas & Muhammad Usman & Zahid Hanif, 2014. "Traditional Vs. Contemporary Management Accounting Practices and its Role and Usage across Business Life Cycle Stages: Evidence from Pakistani Financial Sector," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(4), pages 104-125, October.
    13. Ahmed Abdel‐Maksoud & Wagdy Abdallah & Mayada Youssef, 2012. "An empirical study of the influence of intensity of competition on the deployment of contemporary management accounting practices and managerial techniques in Egyptian firms," Journal of Economic and Administrative Sciences, Emerald Group Publishing Limited, vol. 28(2), pages 84-97, February.
    14. Yosra Nouir & Sami Mensi, 2013. "Accounting Information System of Tunisian SMEs: Complexity, Determinants and Impact on Financial Performance," Working Papers 766, Economic Research Forum, revised Sep 2013.
    15. Orens, Raf & Reheul, Anne-Mie, 2011. "Do CEO Demographics Explain Cash Holdings in SMEs?," Working Papers 2011/35, Hogeschool-Universiteit Brussel, Faculteit Economie en Management.
    16. Marco Giuliani, 2021. "Thinking Critically about Intellectual Liabilities: A Practice-Based Perspective," International Journal of Business and Management, Canadian Center of Science and Education, vol. 14(3), pages 111-111, July.
    17. Elmassri, Moataz Moamen & Harris, Elaine Pamela & Carter, David Bernard, 2016. "Accounting for strategic investment decision-making under extreme uncertainty," The British Accounting Review, Elsevier, vol. 48(2), pages 151-168.
    18. Yusheng Kong & Fahad Javed & Jahanzaib Sultan & Muhammad Shehzad Hanif & Noheed Khan, 2022. "EMA Implementation and Corporate Environmental Firm Performance: A Comparison of Institutional Pressures and Environmental Uncertainty," Sustainability, MDPI, vol. 14(9), pages 1-25, May.
    19. Jude Edeigba & Christopher Gan & Felix Amenkhienan, 2020. "The influence of cultural diversity on the convergence of IFRS: evidence from Nigeria IFRS implementation," Review of Quantitative Finance and Accounting, Springer, vol. 55(1), pages 105-121, July.
    20. Prem Lal Joshi & Wayne G. Bremser & Ashutosh Deshmukh & Rajesh Kumar, 2011. "Diffusion of Management Accounting Practices in Gulf Cooperation Council Countries," Accounting Perspectives, John Wiley & Sons, vol. 10(1), pages 23-53, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:9:y:2025:issue-2:p:4249-4258. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.