THE IMPACT OF LEAN MANAGEMENT TECHNIQUES ON COST REDUCTION
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- NGN 5000
ABSTRACT:
This study investigates the impact of lean management techniques on cost reduction in manufacturing companies in Lagos State, Nigeria. The objectives are to: (1) evaluate how lean management practices influence operational efficiency, (2) assess the impact on cost reduction, and (3) analyze the overall improvement in competitive advantage. A survey design was chosen to gather data from production managers and operational heads. The sample size, calculated using Taro Yamane's formula, ensures representativeness. Nigerian Breweries Plc was selected as the case study due to its implementation of lean management techniques. The reliability coefficient score of the survey was 0.90. Findings indicate that lean management significantly enhances operational efficiency and cost reduction, leading to improved competitive advantage. It is recommended that manufacturing companies in Lagos State adopt lean management practices to achieve significant cost savings and operational efficiency.
