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Profitability through
effective management of materials
Elijah E. Ogbadu
Department of Business Administration Kogi State University,
Anyigba, Kogi State, Nigeria. E-mail:
adufem2000@yahoo.com
Accepted
5 August, 2009 |
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One of
the problems facing Manufacturing Company is the growing
trend towards the higher cost of materials and services and
constant shut down of factory, which erode business profit.
The paper focuses on how business firm can attain
profitability through effective management of materials. The
objective of this paper is to identity problems of material
management, which if corrected can result in profitability.
The paper also examines and outlines the roles and benefits
of materials management. Secondary data and primary data
were utilized in this study. The finding shows that there is
need to recognize the materials management function and it
has been suggested that for a firm to achieve profitability,
the goal of materials management outlined in this paper
should be properly carried out.
Key
words:
Management, production, profit, materials, prudent. |
