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INVENTORY CONTROL MEASURES FOR OPERATIONAL EFFICIENCY OF SMALL SCALE BUSINESS IN IKOT EKPENE METROPOLIS OF AKWA IBOM STATE

ABSTRACT

This paper determined the inventory control measures for operational efficiency of small scale businesses. Two objective, two research questions and two hypotheses guided the study. A survey research design was adopted. Fifty registered small scale businesses were randomly selected for the study. The researcher designed a four point rating scale of questionnaire and was used for collection of information and data for analysis. A reliability index of .83 was obtained using Cronbach Alpha statistical tool. The data collected was process with the use of Statistical Package for Social Science (SPSS). The research questions were answered using descriptive statistics, while the null hypothesis were answered using t-test analysis. The hypotheses were tested at .05 level of significance. The results showed a positive influence of inventory control practices on operational efficiency of small scale businesses in Ikot Ekpene metropolis. The study concluded that batch and vendor-managed inventory are important indices for the successful operations and growth of small scale business. It was recommended that: Owners of small scale businesses should employ staffs that have good knowledge and skills of inventory measures as a key staff to enhance efficiency of business operation.

Keyword: Batch, Vendor-managed Inventory and small scale business

Akpan, Udeme Isaac

GASPRO INTERNATIONAL JOURNAL OF EMINENT SCHOLARS, VOL.13 NO 1