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| Impacts of Inventory Management Practices on Organization Performance |
Olaniyan, Ibunkunoluwa Hannah, Akinde, Blessing Onyi, Adegbola, Muritala Makinde, Aladesoun, Caroline Bunmi, Ayoade, Abayomi Adewuyi
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Abstract:
This study focuses on the effects of inventory management system on organization performance of selected stores and supermarket in Osogbo, Osun State. The objectives of this study are to: determine the effect of inventory management practices on organizational growth of selected stores and supermarkets; examine the effect of inventory management practices on organizational profitability of selected stores and supermarkets; and identify the effect of inventory management practices on sales turnover of stores and supermarkets. This study adopted cross sectional descriptive research design. The area of the study is Osogbo in Osun State. The instrument used for this is primary data. The primary data was obtained through properly structured questionnaire. The study found that the efficient inventory management practices positively affect organizational growth, profitability and sales turnover of firms. The study recommended that management of various organization should ensure a constant review of various inventory management practices in the stores to enable them maintain profitability and consistently. Also, the management of various organizations, especially the stores and supermarkets should see the need to install inventory systems that will enable business success, which will thereby bring about organizational growth. This study concludes that stores and supermarkets with proper inventory management system are likely to grow and satisfy customers and shareholders
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