The Impact of Inventory Control System on Organizational Growth
AbstractThere has been need to ascertain how inventory control system has effected organizational growth in the contemporary Nigerian Economy. This study investigated the effect of inventory control system on organizational growth. The objective of this study is to critically examine the impact of inventory control system on the growth of an organization. Four research questions and hypotheses were formulated, both designed around the problems and research objectives. The study adopted the descriptive research design. Primary data was collected, using structured questionnaire, from three key departments of the organization and in line with the organization levels of staff. Data were collected, tabulated and translated to percentages in line with the responses received. The research hypotheses were tested with Chi-square statistical tool. The major finding of the research were: (1) that the company keeps optimum inventory level at all times; (2)the company is conscious of wastages, damages and pilferage and put in place measures to guard against them; (3) the company’s inventory control mechanism is synonymous with their existing inventory control system. The study concludes that organizations should embrace a good inventory control and regular training of staff. The researcher recommended that inventory items should be properly designated, the staff should be trained regularly and the company should face record keeping more seriously.
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