THE EFFECT OF INVENTORY EFFICIENCY ON FIRM PERFORMANCE IN THE MILLENUIM: AN EMPIRICAL ANALYSIS OF MANUFACTURING INDUSTRY

Yıl 2019, Sayı: 3, 57 - 81, 15.06.0209

Gülşah Hançerlioğulları Köksalmış Ömer Yılmaz

Öz

Inventory
management is usually defined as the transfer of raw materials and value-added
operations to deliver finished products to customers, and the management of the
transformation process. Operational performance is the level of firm
contribution to its sustainability. In operational performance measurement,
financial data such as fixed asset turnover, business cycle rate, and sales /
income ratio per employee are generally used. It was determined that the
establishment of a regression model would be correct when the relationship
between inventory management and operational performance is evaluated. In this
study, data from 991 companies in the manufacturing sector, publicly traded in
the United States during the last 18 years between 2000 and 2017, were analysed
using empirical analyses, using Wharton Research Data Services (WRDS) over the
Standard & Poor's Compustat database.

Anahtar Kelimeler

Inventory Efficiency, Firm Performance, Regression Analysis, Manufacturing Industry.

MİLENYUM ÇAĞINDA ENVANTER VERİMLİLİĞİNİN FİRMA PERFORMANSINA ETKİSİ: ÜRETİM SEKTÖRÜ AMPİRİK ANALİZİ

Öz

Envanter yönetimi genel
anlamda hammaddelerin, müşteriye bitmiş ürünler sunmak için katma değer
işlemleri sırasında taşınması ve dönüştürülmesi sürecinin yönetilmesi olarak
adlandırılabilir. Operasyonel performans bir firmanın varlığını sürdürebilmesi
adına yaptığı faaliyetlerin şirket bünyesine katkısının ne seviyede olduğunun
bir ölçüsüdür. Operasyonel performans ölçümünde genellikle, Sabit Varlık Devir
Oranı, İşletme Döngüsü Oranı ve Çalışan Başına Satış/Gelir Oranı gibi finansal
verilerden yararlanılır. Yapılan araştırmalar doğrultusunda envanter yönetimi
ve operasyonel performans arasındaki ilişki araştırılırken bir Regresyon
Modelinin kurulmasının doğru olacağı tespit edilmiştir. Bu çalışmada son 18
yılda, 2000-2017 yılları arasında, Amerika Birleşik Devletleri’nde halka açık,
üretim sektöründe hizmet veren toplam 991 şirketin verisi Standart & Poor's
Compustat Veri Tabanı üzerinden Wharton Research Data Services (WRDS)
kullanılarak elde edilmiş, ampirik analizlerle incelenmiştir. 

Anahtar Kelimeler

Envanter Verimliliği, Firma Performansı, Regresyon Analizi, Üretim Sektörü

Kaynakça

• • BASU, N. & WANG, X., (2011), Evidence on the relation between inventory changes, earnings and firm value.
• • ÇALIŞIR, F. & HANÇERLIOĞULLARI, G., (2016), Linking Inventory Management Performance and Operational Performance: An Empirical Analysis of US Fashion Apparel and Accessory Industries, Workshop on Business Models and ICT Technologies for the Fashion Supply Chain. Springer, 153-161.
• • CAPKUN, V., HAMERI, A.-P. & WEISS, L. A., (2009), On the relationship between inventory and financial performance in manufacturing companies, International Journal of Operations & Production Management, Cilt: 29, s. 789-806.
• • EROGLU, C. & HOFER, C., (2011), Inventory types and firm performance: vector autoregressive and vector error correction models, Journal of Business Logistics, Cilt: 32, s. 227-239.
• • GAUR, V., FISHER, M. L. & RAMAN, A. (2005), An econometric analysis of inventory turnover performance in retail services, Management science, Cilt: 51, s. 181-194.
• • HANÇERLIOĞULLARI, G., ŞEN, A. & AKTUNÇ, E. A., (2016), Demand uncertainty and inventory turnover performance: an empirical analysis of the US retail industry, International Journal of Physical Distribution & Logistics Management, Cilt: 46, s. 681-708.
• • KESAVAN, S., GAUR, V. & RAMAN, A., (2010), Do inventory and gross margin data improve sales forecasts for US public retailers?, Management Science, Cilt: 56, s. 1519-1533.
• • KÖKSALMIŞ, G. H. 2018. Aeronautics and Space Technologies’inventory Efficiency, Inventory Productivity and Inventory Responsiveness vs. Financial Performance, Journal of Aeronautics and Space Technologies, 11, 65-74.
• • KOUMANAKOS, D. P., (2008), The effect of inventory management on firm performance, International journal of productivity and performance management, Cilt: 57, s. 355-369.
• • NAHMIAS, S. & CHENG, Y., (2009), Production and operations analysis, McGraw-Hill New York.
• • OLIVARES, M. & CACHON, G. P., (2009), Competing retailers and inventory: An empirical investigation of General Motors' dealerships in isolated US markets, Management Science, Cilt: 55, s. 1586-1604.
• • RAJAGOPALAN, S. & MALHOTRA, A., (2001), Have US manufacturing inventories really decreased? An empirical study, Manufacturing & Service Operations Management, Cilt: 3, s. 14-24.
• • RAJEEV, N., (2008), Do inventory management practices affect economic performance? An empirical evaluation of the machine tool SMEs in Bangalore, International Journal of Management Science and Engineering Management, Cilt: 3, s. 312-320.
• • RELPH, G. & MILNER, C., (2015), Inventory Management: Advanced Methods for Managing Inventory within Business Systems, Kogan Page Publishers.
• • RUMYANTSEV, S. & NETESSINE, S, (2007), What can be learned from classical inventory models? A cross-industry exploratory investigation, Manufacturing & Service Operations Management, Cit: 9, s. 409-429.
• • SHOCKLEY, J. & TURNER, T., (2015), Linking inventory efficiency, productivity and responsiveness to retail firm outperformance: empirical insights from US retailing segments, Production Planning & Control, Cilt: 26, s. 393-406.