| Summary: | 碩士 === 國立中山大學 === 財務管理學系研究所 === 106 === Manufacturing industry is a major industry in Taiwan. The Manufacturing industry performance brings significant influence to Taiwan''s economic performance. Inventory management is an indispensable part of the manufacturing business performance. The main purpose of this research is discuss whether there is a significant relationship between inventory levels and manufacturing operating performance, and then we design specific portfolios and use CAPM to determine whether inventory management has an optimal inventory level. The empirical results show that there is an inverse relationship between the level of manufacturing inventory and operating performance, and the lower the inventory level, the better the operating performance. The company with lower inventory turnover days have better investment remuneration, but the company with medium inventory turnover rank has the largest investment return. There is an optimal inventory level for inventory management in the manufacturing industry.
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