Scholarly record
INVENTORY MANAGEMENT COSTS IN ENTERPRISES WORKING IN PURCHASING GROUP
Abstract
Background: Inventories are one of the most important assets. Their excess in an enterprise generates unnecessary costs but also has a positive impact on the safety of the company functioning as it improves its liquidity. In turn, the low level of stocks can reduce costs in an enterprise, but can lead to downtime in production or sales. Managers are looking for methods and strategies that will lead to optimal inventory levels and reduction of management costs. To reduce costs businesses often create purchasing organizations. The aim of this article is to analyze the cost of inventory management in enterprises operating in purchasing groups and inventory management and the presentation of the strategy in the companies analyzed. Methods: The research was carried out on the basis of 24 small and medium-sized commercial enterprises operating within the purchasing group. The study period covers the years 2013-2015. In order to determine the strategy of inventory management and analysis in the selected group of financial indicators and a preliminary financial analysis were applied. Results: The analysis helped identify strategies for inventory management in the enterprises and their impact on the cost of inventory management. In the article the costs analysis was conducted according to the place of their formation, types and division into variable and fixed ones. Conclusions: The research determines what strategies of inventory management are used by companies operating within the purchasing groups. The functioning in the purchasing groups means inventory management with the use of the central unit. The strategies implemented in the enterprises are based to a large extent, on the guidelines, information from the central unit of the purchasing group. The analysis showed that companies use moderate strategies in inventory management, which positively affects the functioning of their safety but it is also expensive.
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