The study looked at the optimization of profit through inventory control practices of firms in our ever-competitive environment. Four inventory control practices formed the objectives with two hypotheses raised to guide the study. The study was empirically analysed. The findings revealed a positive significant relationship between the objectives, Just–In–Time, Material Requirement Planning (MRP), Economic Order Quantity and safety stock on profit maximization. The study recommended that an Effective (well-functioning) inventory control system ensures there is a balance between having just enough materials or products in the stores/warehouse and keeping the stock cost under control so that the firm can maximize its profits at all times.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.