Exploring Inventory Management’s Effects on a Company’s Profitability

Author Names and Emails

Mason T. Frye, East Tennessee State UniversityFollow
Bill P. McTier, East Tennessee State UniversityFollow

Authors' Affiliations

Mason Frye, Department of Management and Marketing, College of Business and Technology, East Tennessee State University, Johnson City, TN. Bill McTier, Department of Management and Marketing, College of Business and Technology, East Tennessee State University, Johnson City, TN.

Location

Culp Room 210

Start Date

4-6-2022 1:15 PM

End Date

4-6-2022 1:30 PM

Faculty Sponsor’s Department

Management & Marketing

Name of Project's Faculty Sponsor

Bill McTier

Additional Sponsors

Umit Saglam

Classification of First Author

Undergraduate Student

Competition Type

Non-Competitive

Type

Boland Symposium

Project's Category

Management or Commerce Planning or Policy

Abstract or Artist's Statement

Effective inventory management policy has long been recognized as a key driver for company success, but which techniques and tools are relevant today? This thesis explores the theory that a company’s inventory management practices have a direct impact on the firm’s efficiency, responsiveness, and profitability. This thesis examines research from previously published studies relating to inventory management to develop a framework of understanding to answer the question of relevancy. Additionally, successful business professionals within the field are interviewed to provide additional insight on specific inventory management practices that affect profitability and performance. Moreover, these professionals discuss how the practices are effectively applied in the real world today. Finally, this thesis will explore specific challenges the coronavirus pandemic presents for inventory managers across the globe, and strategies that industry professionals are utilizing to manage through these taxing times.