The Inventory Management Practices of Shoe Manufacturing Enterprises in Marikina City
Keywords:continuous improvements, inventory, management practices, manufacturing, Polytechnic University of the Philippines, shoes
This study aimed to assess the effectiveness of the inventory management practices of shoe manufacturing enterprises in Marikina City. Descriptive research was used for this study. Most of the shoe manufacturing enterprises in Marikina City are formed as corporations with five years and above of existence in the industry. These companies do have 100 but less than 300 employees and beginning capitalization of P100, 000 and above. The estimated annual revenue of these shoe manufacturing enterprises is P1,000,000 or more. Shoe manufacturers are between ages 21 to 30 years old. Most of the shoe manufacturers are male with the highest educational attainment as high school graduates. Job position of the shoe manufacturers are rank and file employees and are working for about five years and below. For the last three years, inventory training sessions for these shoe manufacturers can be counted as one or even no training sessions at all. Those who will be researching the same topic in the future may focus on other variables which may affect the effectiveness of the inventory management practices in other industries. Future studies can create another way of scaling, which will concentrate on other factors of inventory management practices. Shoe manufacturing enterprises should consider their employees that are handling inventory management to attend training sessions for further learnings as well as for additional knowledge on how to improve their practices. Most of the shoe manufacturing enterprises are corporations and are expected that they have stricter inventory management practices compared to that of partnerships and sole proprietorships. However, in whatever forms of business organizations, any inventories they own should be appropriately maximized and that all their costs should be minimized with proper management. Continuous improvements and more shoe manufacturers in the future should continue the legacy that Marikina City has. Being updated with the inventory policies and strict compliance to it must be followed for the benefit of the employees and the company.