Manufacturing firms' inventory management practices: research, practices and gaps

Rashmiranjan Panigrahi, Padma Charan Mishra, Avinash Kumar Shrivastava and Rajesh Matha

International Journal of Applied Systemic Studies, 2025, vol. 12, issue 4, 328-356

Abstract: This study aims to examine the disparity between research findings and practical implementation in inventory management practices (IMP), focusing specifically on the impact of knowledge of inventory automation (KIA) and cost efficiencies (CE) on operational performance (OP) within the context of Industry 4.0. The paper critically reviews the literature through lenses of bibliometric and content analysis techniques in the time period from 2014 up to 1 February 2024. The findings indicate significant potential for improvement in the use of automated and smart manufacturing technologies by SMEs regarding IMP, KIA, and OP. The study identifies opportunities for adopting Industry 4.0 technologies to enhance inventory management, improve the skill sets of professionals in automated inventory practices, and reduce adoption costs, leading to seamless operational performance. A novel contribution of this study is its proposed model, which illustrates a symbiotic relationship among IMP, KIA, and CE, and their collective impact on OP. Effective inventory management practices rely on the utilisation and sharing of both implicit and explicit knowledge within the emerging SMEs.

Keywords: inventory management practice; automation knowledge; cost efficiencies; manufacturing industry; small and medium-sized enterprise; SMEs; content analysis. (search for similar items in EconPapers)
Date: 2025
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