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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.
KeywordS: Batch, Vendor-managed
Inventory and small scale business
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- INVENTORY CONTROL MEASURES FOR OPERATIONAL EFFICIENCY OF SMALL SCALE BUSINESS IN IKOT EKPENE METROPOLIS OF AKWA IBOM STATE.
ISSN(Hardcopy)
2630 - 7200
ISSN(Softcopy)
2659 - 1057
Impact Factor
5.693
