Inventory management: A tool for optimization and overall efficiency

This research considers the problem of inefficiency in the practice of inventory management and its effects on production operations. It asserts that Inventory management is central to the attainment of optimization of resources and acceptable level of capacity utilization and improved performance. The concern of this researcher is that in most developing countries, the impact of SMEs in terms of contribution to the economy is insignificant and that even in countries with impressive contributions from SMEs, the mortality rate is high. Thus, the author’s consideration of how optimum utilization of resources and efficiency could be achieved in the organizations through inventory management, thereby averting failure and improving performance. This book assures to be of immense use to students, budding and established researchers and of course the entire academic and industrial world. The research is original, multi-disciplinary in nature and built on basic assumptions and theory that promises to provoke future research efforts with potentials to provide solutions to problems in diverse areas, disciplines or levels. The basic model will be useful in building modern models.

Olusakin Akindipe is a seasoned Management consultant, Administrator and Teacher. A member of the Nigerian Institute of Management, he holds a master’s degree in Business Administration. He is currently a lecturer, Head of Department of Business Administration and Ag. Dean, faculty of Management studies, Igbajo Polytechnic Igbajo, Nigeria.