Peculiarities of inventory management strategies of Lithuanian manufacturing companies

Abstract

Inventory management and the related problems in manufacturing companies will always be a topical issue. In light of the fact that the manufacturing process must be continuous, there is an emerging need to build up inventories or to solve the issue of assurance of sufficient inventories by other means. Choosing an appropriate inventory management strategy is important in pursuit of this goal. This article examines peculiarities of inventory management strategies employed by Lithuanian manufacturing companies. The purpose is to investigate, what kind of strategies and for what reasons companies are using. This purpose was achieved during the conducted study based on the application of sophisticated questionnaire. Conducted research revealed that the applicability of JIT and 3PL inventory management strategies in Lithuania is limited.