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Influence of Inventory Management on Sales Growth of Food and Beverage Manufacturing Companies in Nigeria

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Influence of Inventory Management on Sales Growth of Food and Beverage Manufacturing Companies in Nigeria


Akinlabi, B. H. | Sonko, M. L.



Akinlabi, B. H. | Sonko, M. L. "Influence of Inventory Management on Sales Growth of Food and Beverage Manufacturing Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6, October 2021, pp.1207-1216, URL: https://www.ijtsrd.com/papers/ijtsrd47615.pdf

The study investigated the influence of inventory management on the sales growth of selected food and beverage companies in Nigeria. Cross-sectional survey research design was used. The target population comprised 2027 top, middle and lower-level managers within the selected food and beverage companies in Lagos State, Nigeria. A stratified random sampling technique was used to select the sample size of 434. A structured closed-ended questionnaire was used to collect data. Cronbach’s alpha coefficients for the constructs ranged from 0.709 to 0.867. Hypotheses were tested using inferential statistics with the aid of SPSS V 25.0. The findings revealed that inventory management had significant effect on sales growth of selected food and beverage manufacturing companies in Nigeria (Adj R 2= 0.390, F (4, 351) = 57.779, p < 0.05). There were significant influence ofinventory turnover, information technology, and inventory reorder point on sales growth of selected food and beverage manufacturing companies in Nigeria. However, inventory forecasting did not significantly influence sales growth of selected food and beverage manufacturing companies. The study concluded that inventory management significantly influence sales growth of selected food and beverage manufacturing companies in Nigeria. The study therefore recommends that management of the food and beverage manufacturing companies in Nigeria should ensures adequate implementation inventory management mechanisms in order to enhance high level of sales growth.

Inventory forecasting, Inventory reorder point, Information technology, Inventory turnover, Sales growth


IJTSRD47615
Volume-5 | Issue-6, October 2021
1207-1216
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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