THE IMPACT OF INVENTORY CONTROL PRACTICES ON COST REDUCTION: THE CASE OF LEBANESE RETAIL COMPANIES

  • Denis Ushakov South-Russian Institute of Management, Russia Presidential Academy of National Economy and Public Administration, Rostov-on-Don
  • Khodor Shatila iProcares international research center, Beirut
Keywords: inventory management, lean practices, strategic supplier relationships, operational performance, inventory stock

Abstract

Inventory is a significant aspect in administration of items and services or other commodities that are kept in storage by companies and organizations. The research deals with four research variables which are vendor management inventory, lean practices, inventory management and strategic supplier management in their relation to the performance of retail companies. The research is based on the use of the mixed study approach, which aims at defining the effects of inventory control on cost reduction and operational performance of retail firms in Lebanon. The research addressed 123 respondents from the two companies. Also, the researcher has carried out six interviews with three managers from each of these two companies. The data was collected using Google forms, and then analyzed using SPSS. Descriptive analysis, inferential statistics and normality distributions were used to analyze the collected data, and the research has found a direct relationship between vendor inventory management, inventory stock taking, lean practices and strategic supplier relationships and the operational performance of the companies in question. The research recommended three new models to be implemented in further studies, and these models include the independent variables as a dependent variable.

 

Author Biographies

Denis Ushakov, South-Russian Institute of Management, Russia Presidential Academy of National Economy and Public Administration, Rostov-on-Don

Dr. of economy, Professor, South-Russian Institute of Management, Russia Presidential Academy of National Economy and Public Administration, Rostov-on-Don, Russia.

Research interests: tourism industry, multinational business, international service markets, migration. Published more than 200 research papers included 15 students’ manuals and 80 papers in internationally indexed journals.

Khodor Shatila, iProcares international research center, Beirut

Masters’ in Business Administration, Sagesse University, Furn El Chebbak Baabda, Lebanon. Researcher in iProcares international research center, Beirut, Lebanon.

Research interests: international logistic, transnational supply chains, human resources management, multinational management. Published more than 5 papers in internationally indexed journals, participated in 4 international conferences.

Published
2021-09-30
How to Cite
Ushakov, D., & Shatila, K. (2021). THE IMPACT OF INVENTORY CONTROL PRACTICES ON COST REDUCTION: THE CASE OF LEBANESE RETAIL COMPANIES. The EUrASEANs: Journal on Global Socio-Economic Dynamics, (5(30), 16-25. https://doi.org/10.35678/2539-5645.5(30).2021.16-25