Miclat, Ofelia G. <br/><br/>
Inventory management practices of selected manufacturing companies in the Freeport Area of Bataan  [manuscript] / 
Ofelia G. Miclat. 
 - Balanga City :  BPSU,  2017. 
 - 93 leaves ;  28 cm. 
<br/><br/> Includes bibliographical references. 
<br/><br/> In recent years, a number of manufacturing companies have faced numerous challenges   especially in inventory management or material control, thus affecting their operational   performance. There have been cases of materials overstocking, which eventually get expired or   out dated, under stocking, lack of stock-taking, theft of materials by workers, delays in deliveries   of materials into the organizations, and loss of production time among others. However,   universality of inventory management challenges mentioned is widely recognized and   researchers continue to seek optimal solutions across the globe. Research to date is diversified   across many aspects that are basically directed at offering optimal solutions to such stock control   problems, particularly timely delivery of needed materials for seamless delivery of goods,   products, and services. More sophisticated mathematical tools and computational algorithms are   constantly being discovered or proposed while traditional analytical techniques are being applied   in new ways. While there are numerous studies in inventory management with diverse   perspectives or emphasis, comprehensive research that attempt to integrate potential impact  areas of emerging inventory management practices in today‟s increasingly complex society, is   presently scarce.   Consequently, a wide variety of inventory management opportunities are opening up to   modern organizations but a holistic assessment of the impact of deployable tools appears to be   currently lacking, thus with the aim of helping to fill this gap, this study proposes a conceptual   framework designed to support the choice of the most adequate and appropriate inventory   management model for particular manufacturing companies in the Freeport Area of Bataan   which is considered the leading hub of investors not only in Region III but in Asia as well.   Several manufacturing industries in the Freeport Area of Bataan are currently faced with   the challenges of maintaining socio-economic progress amidst unprecedented plunge in crude oil   prices and tightening of global financial conditions that had led to reduce export earnings and   revenues. It is therefore imperative for manufacturing companies in the Freeport Area of Bataan   to have sound, effective and well-coordinated inventory management systems because the   business environment is rapidly changing, highly competitive and drastically affects the   performance of the organization. With the application of proper inventory management   techniques, the right materials will be available at the right time, with the minimum storage costs   and investment.    The researcher concentrated only on five (5) selected manufacturing companies solely in   the Freeport Area of Bataan. These five (5) selected companies produce various types of   products such as a tennis balls, lens, fiberglass and different designs of bags. Other companies   were not included in the study due to limited time and financial resources of the researcher.    Time is so tight for a two- month period in devising the survey questionnaire and has it   validated by three experts in the area of the study to suit the current inventory management   practices of the selected manufacturing companies in the Freeport of Bataan. It is fortunate that   the 46 respondents were very accommodating and cooperative that the researcher easily retrieved   the survey questionnaires.    This thesis provides academic knowledge on the strategic role of inventory management   adopted by the selected manufacturing companies in the Freeport Area of Bataan. Also, the   various inventory management practices of five (5) selected manufacturing companies were   assessed, the problems they encountered were identified and how these manufacturing   companies complement ongoing campaigns to achieve an effective inventory management   system sealing leakages in revenue and wastes in expenditure especially unnecessary inventories   were determined.   The results of the analysis based on related literature indicate that a proper inventory   control system is closely associated with low storage costs, cost-reduction and timely delivery of   requisite goods, products, materials and services to customers and stakeholders, thereby   enhancing sustained profitability, competitive ability, and enhanced market diversification   prospects.   It can also be concluded that ineffective inventory management leads to incidences of   overproduction, underproduction, excessive stocks, and obsolescence of stocks, production   bottlenecks and delays in delivery of raw materials.   The findings served as a benchmark for companies which are only starting and may prove   practical and relevant to concerned companies.