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The Pros and Cons of Inventory Control Strategies, and How Does it Affect the Company’s Performance

Author

Listed:
  • Sumaya Zaki Eid Bait Bin Saleem

    (Department of Management Studies, Middle East College, Muscat, Oman)

  • Asad Ullah

    (Department of Management Studies, Middle East College, Muscat, Oman)

Abstract

Inventory management plays a critical role in every organization’s performance. It is an essential part of any business. Financially, it is the most valid current asset, easily converted to cash. Therefore, every organization must be able to manage its inventory according to its needs and customer’s demand. Furthermore, inventory requires space inside the warehouse and keeping more than the required stock can increase the cost of carrying inventory. Hence it is essential to keep enough stock but not more than needed. Nevertheless, some organizations find it challenging to balance the supply of inventory with their customers or demand. Thus, this research aims at understanding the concept of inventory management and inventory control and identifying the issues faced by the companies in their inventory management by finding the flaws within the strategies or systems used to manage the inventory. This research employs a qualitative data collection method through journal articles, books, and trusted websites to ascertain the objectives.

Suggested Citation

  • Sumaya Zaki Eid Bait Bin Saleem & Asad Ullah, 2023. "The Pros and Cons of Inventory Control Strategies, and How Does it Affect the Company’s Performance," International Journal of Operations Management, Inovatus Services Ltd., vol. 3(1), pages 7-14, February.
    • Handle: RePEc:mgs:iojome:v:3:y:2023:i:1:p:7-14
    DOI: 10.18775/ijom.2757-0509.2020.31.4001
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    More about this item

    Keywords

    Inventory Management; Companies performance; Inventory Control; Effective Strategies;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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