Inventory Automation Practices and Productivity: A Study on Steel Manufacturing Firms

Jena, D.; Panigrahi, Rashmi Ranjan; Mishra, Padma Charan

doi:10.1504/ijass.2021.10039803

IJASS

2021

DOI: 10.1504/ijass.2021.10039803

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Inventory Automation Practices and Productivity: A Study on Steel Manufacturing Firms

D. Jena¹,

Rashmi Ranjan Panigrahi²,

Padma Charan Mishra³

Abstract: The purpose of this study is to explore the relationship between inventory automation practices (IAP) and the productivity of steel manufacturing firms. The study also explores the mediation effect of knowledge of IAPs on the relationship between IAP and firms' productivity (FP). Study based on data, collected from 287-key officials of three manufacturing firms of Odisha, India using a structured questionnaire. SPSS and Amos software were used for data analysis. Data were processed through the test of validity… Show more

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2024

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Cited by 2 publications

References 43 publications

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Impact of inventory management on SME performance: a systematic review

Panigrahi,

Shrivastava,

Nudurupati

2024

IJPPM

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PurposeEffective inventory management is crucial for SMEs due to limited resources and higher risks like cash flow, storage space, and stockouts. Hence, the aim is to explore how technology and know-how can be integrated with inventory practices and impact operational performance.Design/methodology/approachThe basis of the analysis was collecting papers from a wide range of databases, which included Scopus, Web of Science, and Google Scholar. In the first phase of the process, a search string with as many as nine related keywords was used to obtain 175 papers. It further filtered them based on their titles and abstracts to retain 95 papers that were included for thorough analysis.FindingsThe study introduced innovative methods of measuring inventory practices by exploring the impact of know-how. It is the first of its kind to identify and demonstrate how technical, technological, and behavioral know-how can influence inventory management practices and ultimately impact the performance of emerging SMEs. This study stands out for its comprehensive approach, which covers traditional and modern inventory management technologies in a single study.Research limitations/implicationsThe study provides valuable insights into the interplay between technical, technological, and behavioral know-how in inventory management practices and their effects on the performance of emerging SMEs in Industry 5.0 in the light of RBV theory.Originality/valueThe RBV theory and the Industry 5.0 paradigm are used in this study to explore how developing SMEs' inventory management practices influence their performance. This study investigates the effects of traditional and modern inventory management systems on business performance. Incorporating RBV theory with the Industry 5.0 framework investigates firm-specific resources and technological advances in the current industrial revolution. This unique technique advances the literature on inventory management and has industry implications.

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Impact of inventory management on SME performance: a systematic review

Panigrahi,

Shrivastava,

Nudurupati

2024

IJPPM

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Management of inventory for firms’ efficiency – a study on steel manufacturing industry

Panigrahi

Mishra²,

Samantaray

et al. 2022

JAMR

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PurposeThe purchase is becoming a more difficult cum tactical decision that affects the cost factor, quality factor, time factor and responsive factor of the buy and maintains them. The purpose of this study is to investigate the effect of inventory management (IM) practices on operational efficiencies (OEs) in Indian steel manufacturing firms.Design/methodology/approachThe study is based on a quantitative research design that has collected information from 321 key officials of Indian steel manufacturing firms. The analyses are carried out with the use of statistical techniques such as confirmatory factor analysis and structural equation modeling (SEM).FindingsThe paper finds that inventory management (IE) has a considerable impact on the OE of steel manufacturing firms in India. The manufacturing industry must highlight the significance of inventory management practice (IMP) for enhancing firm efficiencies in a volatile environment with the help of management teams. Understanding the impact of IE practices on firms’ OE would be helpful for company shareholders and investors.Practical implicationsThe paper suggests the manufacturing industry to emphasize the role of inventory management practices to have better productivity of the firm. This research focuses on the relationship between IMP and OE.Social implicationsEffective and efficient use of inventory will be helpful in reducing the overall cost of production and reduced costs to customers.Originality/valueCompanies require resources to attain a long-term competitive edge. Also, as a consequence, the research is compatible with resource-based view (RBV) theory.

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Inventory Automation Practices and Productivity: A Study on Steel Manufacturing Firms

Cited by 2 publications

References 43 publications

Impact of inventory management on SME performance: a systematic review

Impact of inventory management on SME performance: a systematic review

Management of inventory for firms’ efficiency – a study on steel manufacturing industry

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