An Explorative Study on Quality Management Success Factors and Performance Metrics for Inventory Control in Manufacturing Industries
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Abstract
Mechanization plays a significant t role in the advancement of economic conditions of a establishing country like India. Indian manufacturing industries contribute a lot in growth and economic expansion in the country. Manufacturing industries have contributed to 17% of our GDP. Hence, the importance and need to evaluate this sector is justified.
This study successfully describes a research Model for improving the performance of the manufacturing industries and related issues. The reliability estimate and validity results of research instrument (Questionnaire) show that the instrument can be used as a standard for collecting data related with manufacturing industries. Further confirmatory factor analysis revealed six independent factors (performance improvement factors).These are :Top Management, Process Management ,Quality Management, Organizational Culture, Employee Involvement, Human Resource Management and Government Policy. The dependent factors of performance measures are, Productivity Performance , Quality Performance, Employee Satisfaction , Financial Performance and Time Dimension.
Another important aid of this study is that it connects the performance improvement factors with the manufacturing industries performance measures. In order to do this Correlation analysis was carried out and also thirty five hypotheses were derived and verified. Multiple regressions analysis was carried out to investigate the magnitude of more than one performance improvement (input) factor on performance measure ( output).
The multiple regression results make it evident that all performance improvement factors significantly influence the performance of manufacturing industries.Testing of data is done under following heads :
• Sample Adequacy
• Normality
• Validity
• Reliability
The ultimate objective of this research is not merely developing the models but to find out best set of independent variables,which will result in optimization of objective function. For this Optimization of model was also done.
Finally, model is validated by conducting case studies in two industries in Chhattisgarh,India. Statistically it is proved that all the respondents agree with the recommendations of developed performance improvement model. The research instrument has been successfully developed that can be used to evaluate various improvement factors which will be implemented in manufacturing organizations.
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