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Inventory Management Practices Among Micro Retailing Enterprises

This study examined inventory management practices among small retail businesses. The researchers hypothesized that cost barriers, attitudes toward inventory management, and knowledge of inventory practices influence inventory management. A survey was conducted of 100 small retail business owners. All three hypotheses were supported, finding that cost barriers, attitudes, and knowledge significantly impact inventory management. However, the sample size was small and not well-distributed among business categories and experience levels, limiting the analysis. The study instrument assessed 16 inventory management activities and 3 factors thought to influence practices. Reliability testing found strong internal consistency among the items.

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67 views1 page

Inventory Management Practices Among Micro Retailing Enterprises

This study examined inventory management practices among small retail businesses. The researchers hypothesized that cost barriers, attitudes toward inventory management, and knowledge of inventory practices influence inventory management. A survey was conducted of 100 small retail business owners. All three hypotheses were supported, finding that cost barriers, attitudes, and knowledge significantly impact inventory management. However, the sample size was small and not well-distributed among business categories and experience levels, limiting the analysis. The study instrument assessed 16 inventory management activities and 3 factors thought to influence practices. Reliability testing found strong internal consistency among the items.

Uploaded by

Andrew Ponte
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Inventory Management Practices among Micro Retailing Enterprises

This study examined the current state of inventory management practices and factors that
influence their use in micro retailing enterprises through questionnaire survey among the
owners/managers of the micro retailing enterprises. The researchers proposed three hypotheses.
The first hypothesis was that the cost barrier has a significant influence on inventory management.
The second hypothesis was that attitude towards inventory management has significant influence
on inventory management. The third hypothesis was that knowledge on inventory management
practices has a significant influence on inventory management. All three proposed hypotheses
developed in this study are supported.

Body Supporting Evidence

A simple random sampling was employed wherein there were only 100 respondents as the
sample size. Within the sample size, 50 (50 percent) of the respondents were operating for not
more than five years. This was followed by small and medium-sized enterprises which were around
9 (17 percent) and 3 (5 percent) respectively while there were 38(18 percent) had been in business
for more than 10 years. The sample size is representative however; the problem lies with the
distribution of the sample. The sample number for in particular 50 (50 percent) of the respondents
were operating for not more than five years is insufficient. A larger well represented sample with
regard to all categories would have aided in the data analysis, particularly when looking for
possible interactions between inventory management practices and its influence on inventory
management.

The instrument utilized comprised details of inventory management practices using 16


items related to how the inventory was stored, handled, controlled and purchased. The first
category refers to the activities related to how the inventories were kept and traced. This
component helps the enterprises to easily trace and identify the inventories. The second category
comprise of activities related to purchase and control.

This is a critical aspect of management in ensuring sufficient amount of inventories are


available when needed. Meanwhile, the selected factors associated with inventory management
practices included cost, owner/manager’s attitude and owner/manager’s knowledge on inventory
management. All items were measured using a five Likert’s scale from 1; Strongly Disagree to 5;
Strongly Agree. The reliability analysis using a Cronbach’s alpha value was conducted in order to
calculate the internal consistency of all scaled-items used in this study. The closer the Cronbach’s
alpha coefficient is to 1.0, the greater the internal consistency of the items.

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