International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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A Comprehensive Analysis of Inventory Management and Its Potential Implications on Financial Reports

Author(s) K S Meghana Upadhyaya
Country India
Abstract Abstract: Inventory management plays a pivotal role in businesses' operational efficiency and financial success, encompassing processes aimed at maintaining optimal stock levels while minimizing costs and meeting customer demand. This paper presents a comprehensive analysis of inventory management practices, focusing on their impact on financial performance, challenges, opportunities, and best practices. Through a literature review, the study examines existing research on inventory management, highlighting its significant positive relationship with organizational performance. The research methodology includes correlation analysis, descriptive statistics, questionnaire analysis, and hypothesis testing to explore the intricate dynamics of inventory management. Findings reveal a strong correlation between efficient inventory management practices and improved financial metrics, emphasizing the importance of implementing advanced inventory management systems, enhancing forecasting accuracy, and fostering collaboration within supply chains. The study concludes with practical recommendations for businesses seeking to optimize their inventory management processes and enhance financial performance in today's competitive marketplace
Keywords Inventory management, Financial performance, Operational efficiency, Supply chain, Forecasting accuracy, Advanced technologies
Field Business Administration
Published In Volume 6, Issue 3, May-June 2024
Published On 2024-05-17
Cite This A Comprehensive Analysis of Inventory Management and Its Potential Implications on Financial Reports - K S Meghana Upadhyaya - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.20262
DOI https://doi.org/10.36948/ijfmr.2024.v06i03.20262
Short DOI https://doi.org/gtvt2w
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