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Inventory management system - a tool for effective decision making model and implementation for business growth

 Department: Mathematics and Statistics  
 By: usericon kruskalstat  

 Project ID: 4638
   Rating:  (5.0) votes: 1
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The aim of inventory management is to hold inventories at the lowest possible cost, given the objectives to ensure uninterrupted supplies for ongoing operations. The study analyzed inventory management adoption on bakeries in Warri metropolis, Delta State, Nigeria as a tool for organizational growth. The method of data analysis adopted was both descriptive and inferential statistics (Mean ranking index and Pearson correlation). The findings revealed that most of the bakeries have functional inventory management practices especially the practice of just in time and continuous stock review method of inventory. The hypothesis was tested with the use of Pearson Product Moment Correlation and the outcome presented in table 4.6 shows that Pearson Product Moment Correlation Coefficient, r is 0.585 and a significant level, p of 0.021, which confirm that there is a positive relationship between the inventory management system practiced and the resultant effect on organizational performance. The study concludes that there is a positive relationship between inventory management practices and the performance of a bakery. ...
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