Journal of
Economics and International Finance

  • Abbreviation: J. Econ. Int. Finance
  • Language: English
  • ISSN: 2006-9812
  • DOI: 10.5897/JEIF
  • Start Year: 2009
  • Published Articles: 351

Full Length Research Paper

Profitability through effective management of materials

Elijah E. Ogbadu
Department of Business Administration Kogi State University, Anyigba, Kogi State, Nigeria
Email: [email protected]

  •  Accepted: 05 August 2009
  •  Published: 30 September 2009

Abstract

 

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.