Inventory management system - a tool for effective decision making model and implementation for business growth Department: Mathematics and Statistics By: kruskalstat Project ID: 4638 Rating: (5.0) votes: 1Rate this project12345 Price:₦3000 Get the Complete MaterialAbstractThe 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. ...Preview Download Preview +Other Mathematics and Statistics project topics and materials you might be interested in»Statistical Quality Control of Premier Soap in Soap Manufacturing Industry ( A Case Study of PZ Cusson PLC Aba Abia State)»Statistical analysis of students’ height and weight (case study of federal polytechnic Nekede, Owerri, Imo state) »Statistical analysis of unemployment rate among age groups and geographical locations in Nigeria»Statistical analysis of the problems associated with skill acquisition in Nigeria (a case study of male tailors in Imo state)»Application of linear programming technique to profit maximization in the production of soap (a case study of Promotex industrial and chemical company limited, Nnewi, Anambra state) »Statistical analysis of foster care and adoption rate in Abia state (a case study of motherless babies home Ahiaeke, Umuahia)»Determination of nutritional status of children within the ages of four (4) to ten (10) years using their body mass index (BMI)»Time series analysis on marriage registration in Ilorin, Kwara state»Application of multiple queuing model in evaluating the efficiency of service in UBA bank»Statistical analysis on impact of parental hood on academic performance»Determinant of foreign direct investment in Nigeria and its effect on Nigerian economy: an empirical analysis»Econometrics analysis of gross national income on consumption expenditure of federal republic of Nigeria between (2011)»Statistical analysis of factors affecting crime in Imo state»Statistical study of the queuing pattern at the antinatal division of Federal Medical Center FMC Owerri Imo state»A statistical analysis of coal production in Nigeria - a case study of Nigeria coal corporation from 2000-2009