因應食品安全衛生，食品加工業對於存貨管理效率之要求較為嚴苛，與一般產業有很大的差異。食品加工業必須處理諸多庫存管理上的細節，如原料規格不一致，不同計量單位需對照轉換難以標準化，以及運輸或庫存會造成自然損耗，另交貨與收貨間難免發生進出貨超交、生產超領原料的狀況，而且原料與產品保存期短，質量風味又容易變化，導致庫存難以掌控，連帶影響生產管理，以及因應多溫層需求，冷鏈物流對倉儲環境和運輸管理，均需有相對應的管理。因此食品加工業從原物料進料、領料生產、製成品上架，到倉儲管理的複雜度，均影響存貨管理作業的正確性、效率及成本。
本研究採用迴歸模型進行分析，以上市櫃食品業當中的食品加工業，分析其在2017年至2021年間，存貨管理效率與公司績效的關聯性。經實證結果發現，存貨管理效率不論在會計績效或市場績效均呈顯著正相關，顯示企業透過建立良好的存貨管理制度，提高存貨管理效率，可帶來競爭優勢，進而提升企業績效。另會計績效與市場績效呈顯著正相關，表示公司財務報表獲利佳，會即時反應在公司股價，獲得更高的市場報酬。
為了增加實證結果的可靠性，本研究另進行敏感性分析，在產業別分群測試，雖然消費食品業與非消費食品業在存貨管理效率並未有顯著差異，但消費食品業存貨管理效率與公司績效呈顯著正相關，而非消費食品業不論在會計績效或市場績效均較無關，推測係因非消費食品業之採購成本受原物料波動影響較大，以及生物性資產會計認列方式影響所致。另外，以權益報酬率作為會計績效之代理變數、以銷貨週轉率作為存貨管理效率之代理變數、存貨管理效率對次期公司績效之影響及存貨管理效率對市場績效之迴歸分析-額外控制變數之考量，存貨管理效率與會計績效或市場績效呈顯著正相關，與實證結果相同。

Using regression models, this investigation examines the impact of inventory management on the enterprise performance of publicly traded companies in the food processing industry in Taiwan from 2017 to 2021.
The empirical findings demonstrated a highly significant positive correlation between inventory management efficiency and market performance. This shows that by instituting efficient inventory management systems, businesses can gain a performance edge and boost their bottom line. Strong financial profitability reflected in the company's financial statements leads to higher market returns, according to the study, which found a significant positive relationship between accounting and market performance.

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