PERPETUAL AND JUST-IN-TIME INVENTORY CONTROL APPROACHES APPLIED BY MANAGERS FOR IMPROVING OPERATIONS OF SMALL AND MEDIUM SCALE ENTERPRISES

C. C. Okolocha, Emmanuel Obidi Udegbunam

Abstract


This study ascertained the extent managers applied perpetual and just-in-timeinventory approaches for improving operations of small and medium scale enterprises in South-East Nigeria. Two research questions and two null hypotheses guided the study. Descriptive survey research design was adopted for the study. The population comprised 4745 registered SMEs managersfrom services, construction and manufacturing businesses operating within South-East Nigeria. Sample size of 1424 registered SMEs managers were used, through proportionate stratified random sampling technique. The instrument for data collection was a 22-item structured questionnaire. The instrument was validated by three experts. Cronbach Alpha was used to determine the internal consistency of the instrument, with an overall co-efficient value of 0.91. Mean and standard deviation were used to answer the research questions, while Analysis of Variance (ANOVA)was used to test the null hypotheses at 0.05 alpha levels. The findings of the study revealed that just-in-time inventory approaches is lowly applied by managers of SMEs in South-East, Nigeria, while perpetual inventory approaches are moderately applied to improve their business operations. Years of business experience of managers of SMEs significantly influence their mean ratings on the extent just-in-time inventory approaches are applied for improving operations in South-East Nigeria; but did not significantly influence their mean ratings on the extent perpetual inventory approaches are applied for improving operations. It was recommended among others that Management of small and medium scale enterprises should organize regular training for managers on various inventory control approaches that will empower them to adequately apply different inventory control approaches appropriately for busines growth, sustainability, and development.

Keywords. Perpetual and Just-In-Time Inventory Control Approaches,Managers,SMEs.


Keywords


Perpetual and Just-In-Time Inventory Control Approaches, Managers, SMEs.

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References


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