The Impact of Inventory Management Techniques on Operational Efficiency in Dangote Cement Plc, Kaduna State
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Background of the Study
Inventory management is a critical component of supply chain management, particularly in the manufacturing industry, where the availability of raw materials and finished products directly influences production schedules, cost management, and customer satisfaction (Ogunyomi et al., 2023). Dangote Cement Plc, one of Nigeria’s largest cement manufacturers, operates in Kaduna State, where efficient inventory management is essential for maintaining continuous production and meeting customer demand.
Effective inventory management techniques, such as just-in-time (JIT), economic order quantity (EOQ), and inventory optimization strategies, can significantly impact operational efficiency. By maintaining the right balance of inventory—avoiding both overstocking and stockouts—Dangote Cement can ensure smooth production flow, reduce carrying costs, and meet delivery deadlines. However, improper inventory management can lead to inefficiencies, increased costs, and production delays, which can negatively affect profitability and customer satisfaction.
This study aims to evaluate the impact of inventory management techniques on operational efficiency at Dangote Cement Plc, Kaduna State, and determine how the company can enhance its inventory practices to improve overall performance.
Statement of the Problem
Despite Dangote Cement’s size and market share, challenges related to inventory management, such as inaccurate stock levels, delayed procurement of raw materials, and production downtime due to inventory shortages, have been reported in the Kaduna State operations (Okunoye & Olokundun, 2024). These issues impact the company’s ability to meet production targets and customer demand efficiently. Therefore, it is important to evaluate how inventory management techniques impact operational efficiency and to explore possible improvements.
Objectives of the Study
1. To evaluate the impact of inventory management techniques on operational efficiency at Dangote Cement Plc, Kaduna State.
2. To examine the relationship between inventory optimization strategies and cost control at Dangote Cement Plc.
3. To recommend strategies for improving inventory management to enhance operational efficiency at Dangote Cement Plc.
Research Questions
1. How do inventory management techniques impact operational efficiency at Dangote Cement Plc, Kaduna State?
2. What is the relationship between inventory optimization strategies and cost control at Dangote Cement Plc?
3. What strategies can Dangote Cement Plc adopt to improve inventory management and operational efficiency?
Research Hypotheses
1. Inventory management techniques do not significantly impact operational efficiency at Dangote Cement Plc, Kaduna State.
2. There is no significant relationship between inventory optimization strategies and cost control at Dangote Cement Plc.
3. Strategies for improving inventory management do not significantly enhance operational efficiency at Dangote Cement Plc.
Scope and Limitations of the Study
This study will focus on the evaluation of inventory management techniques and their impact on operational efficiency at Dangote Cement Plc, Kaduna State. Data will be collected through surveys and interviews with inventory managers and production staff. Limitations include potential challenges in accessing sensitive company data and the influence of external factors on inventory management practices.
Definitions of Terms
• Inventory Management: The process of overseeing and controlling the flow of materials and products in and out of a company’s inventory to ensure adequate stock levels without excessive overstocking.
• Operational Efficiency: The ability of a company to produce goods or deliver services in the most cost-effective manner, utilizing minimal resources.
• Inventory Optimization: The process of balancing inventory levels to meet demand without overstocking, reducing inventory carrying costs while avoiding stockouts.
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