i

ASSESSMENT OF INVENTORY MANAGEMENT AMONG

AGRI-VET SUPPLIERS IN TAGUM CITY: BASIS
FOR ENHANCEMENT PROGRAM

A Thesis
Presented to
The Thesis Committee,
Department of Accounting Education
UM Tagum College, Tagum City

In Partial Fulfillment
Of the Requirement for the Degree
Bachelor of Science in Management Accounting

RYAN N. LIPAY
LEONILA M. PALA
NISSIN H. ROSARIO

JULY 2024
 ii

APPROVAL SHEET

This thesis entitled, "Assessment of Inventory Management Among

Agri-vet Suppliers in Tagum City: Basis for Enhancement Program" prepared
and submitted by LEONILA M. PALA, NISSIN H. ROSARIO, and RYAN N.
LIPAY in partial fulfillment of the requirements for the degree of Bachelor of
Science in Management Accounting, has been examined and is hereby
moment recommended for approval and acceptance.

MARY CRIS LUZADA, CPA,MSA

Adviser

PANEL OF EXAMINERS

Approval by the thesis committee with a grade of ______.

JIMNANIE A. MANIGO, DBA JOE MARI N. FLORES, CPA, MBA

Chairperson Member

Accepted and approved in partial fulfillment of the requirements for the

degree of Bachelor of Science in Management Accounting.

JOVIT G. CAIN,CPA, MSA

Program Head-BSMA

GINA FE G. ISRAEL, EDd

Dean of College

July 2024
 iii

TABLE CONTENTS

Page

Title Page i

Approval Sheet ii

Table of Contents iii

List of Tables v

Abstract vi

Introduction 1

Methods 7

Results and Discussions 10

Conclusions and Recommendations 13

References 16

Appendices

A. Undergraduate Agreement Form

B. Title Proposal Questionnaire and Title Evaluation Form
C. Assignment of Research Personnel
D. Endorsement for Outline Defense & Notice of Outline Defense

E. Outline Evaluation Form & Minutes of Outline Defense

F. Questionnaire with Validation

G. Permission to Conduct the Study with Parent Consent Waiver

H. Certificate of Appearance or Photo/Screenshot

 iv

I. Raw Data

J. Result

K. Endorsement for Final Defense & Notice of Final Defense

L. Final Evaluation Form

M. Turnitin Endorsement, 1st, 2nd, 3rd Results with Certificate of

Plagiarism

N. Grammarly Result

O. Endorsement for Research Personnel

P. Certificate of Research Presentation with Photo or ss Photocopy

Q. Authorization Letter

R. Routing Form and Monitoring Sheet

 v

LIST OF TABLES

TABLE PAGE

1 Distribution of participants 8

2 Level of Inventory Management Among Agri-vet 11

Suppliers in Tagum City

3 Matrix of activities for Enhancement Program 15

 VI

ABSTRACT

This study aimed to determine the level of inventory management in

terms of budgeting practices, inventory level management practices, and

display area practices as key indicators. The research involves Agri-vet

suppliers in Tagum City, with a random sample of 146 participants from

various business categories. The study utilizes an adapted questionnaire to

collect data on inventory management, employing five Likert scale responses.

The level of inventory management was described as very high with an

overall mean score of 4.92. The result suggests that agri-vet suppliers in

Tagum City have effective strategies for handling and organizing their stock.

Thus, they are not only keeping their stock in check but also striking a balance

in meeting customer demands without having too much or too little inventory.

Keywords: Inventory Budget Practices, Inventory Levels Management, and

Shelf-space Management
 1

INTRODUCTION

The agri-vet sector ensures agricultural productivity, animal health,

and food safety. It contributes to the sustainability of economic development,

supports rural economies, and addresses worldwide challenges related to

ensuring a secure and healthy diet for an increasing population. The

importance of the agri-vet sector, as it provides a basis for sustainable

farming, animal welfare, and human well-being, extends beyond its

commercial aspects. Despite their importance, there were several challenges

for agri-vet suppliers regarding inventory management. Onggo et al. (2019,

p.1019) address the problem of inventory management faced by agri-vet

suppliers in fruits and vegetables. These include perishability, lack of demand

certainty, quality control, and the need to coordinate effectively between

stakeholders.

Furthermore, Lykogianni et al. (2021, p.148) investigate the inventory

management challenges faced by agri-vet suppliers in the agrochemical

industry, specifically focusing on pesticide suppliers. It investigates the

problems of obsolescence, regulatory requirements, batch ordering, and

storage efficiency of hazardous substances. Moreover, inputs like fertilizers,

seeds, and agrochemicals are included in the inventory management

practices within the agriculture input supply chain. It identifies common

challenges agri-vet suppliers face, including demand variability, seasonality,

transportation constraints, and inventory carrying costs (Kumari et al., 2023,

pp.280-303). Such studies have highlighted particular challenges and

difficulties that agri-vet suppliers are experiencing with inventory

management. By understanding these problems, agri-vet suppliers can

 2

implement targeted strategies to enhance inventory management practices

and improve supply chain performance.

Agri-vet suppliers must keep inventories current because they impact

their operations, including total business performance. Furthermore, effective

inventory management is also essential. It is acknowledged that the policy will

allow firms to achieve greater productivity, which can significantly influence

income (Truong, 2023, p.4). According to Alshurideh, Alshurideh, and

Hamadneh (2022, p. 59), increasing inventory management may help

enhance and improve the organization's performance. Despite the inventory

management strategy having a direct and improved service organizational

performance, the study also discovered a competitive edge. If an organization

has improved service through adequate inventory, it may be possible to

achieve these management strategies.

In connection, Anaduaka et al. (2023, p.156) examine inventory

management practices within the agrochemical sector, including suppliers of

pesticides. This report stresses the importance of managing stocks to ensure

that pesticides are available at appropriate times and in sufficient quantities.

The study emphasized the importance of an effective inventory management

practice, which contributes to customer satisfaction, decreases transport

costs, and improves profitability in the agrochemical sector. Furthermore, the

relationship of inventory management to operational performance within

agricultural cooperatives is explored by Ahn and Kim (2023, p.97). The study

emphasizes the importance of inventory control to ensure that farming inputs

and products are made available as soon as possible, reducing inventories

and improving customer satisfaction. Research has shown that efficient

 3

inventory management can influence operational performance indicators such

as delivery times, fulfillment, and customer retention. These studies have

highlighted the importance of inventory management in agri-vet. They

highlight that efficient inventory management is essential for operational

performance, customer service, profitability, and overall success of the

agricultural sector.

This study is anchored to the Economic Order Quantity theory,

developed by Ford Whitman Harris in 1913. Harris's assumption of a

continuous, constant rate of demand and recognition of the need to balance

intangible inventory costs against tangible ordering costs led directly to the

simple square-root formula for the optimal order quantity. This formula aims to

determine the optimal number of units to order so that management can

reduce the total cost of a product's purchase, delivery, and storage

(Erlenkotter 1990, p.938). Thus, EOQ theory shows a significant relationship

between creating a suitable arrangement of the monetary amount and the

ideal stock establishment. This process shows the arrangement daily,

monthly, and annually. It provides a logical analysis for agri-vet businesses in

managing the cost of their inventory system. In addition, the Economic Order

Quantity (EOQ) model plays a crucial part in obtaining the most optimum

quantity with a lesser cost allocation by cutting down the ordering and

handling costs (Gupta, Mangal & Verma 2020, p.2097).

Also, the Just in Time Theory is relevant in this study. Just-in-time

inventory was developed in the 1970s by Taiichi Ohno within the Toyota

automobile manufacturing company. Taiichi Ohno believed that this

philosophy is successful if every individual within the organization was

 4

involved and committed to it, the plant and processes were arranged for

optimum efficiency, and the quality of output and the production system was

developed to meet the demands precisely (Kootanaee et al. 2013, p.134). The

study conducted by Kholik, Rahmawati, and Sudarmaningtyas (2023, pp454-

463) states that the JIT system is primarily utilized to achieve the quality of

products, minimize cost, and eliminate waste by controlling the volume of

inventory during the production process. Also, the study proves that JIT can

reduce the inventory cost by 92%. The application of this theory is to enable

agri-vet businesses to achieve efficient inventory management by eliminating

the waste of inventories. It can be achieved by holding only the goods

intended to be sold in the market. By doing this, several companies will be

able to reduce the costs associated with inventory, such as storage costs,

insurance costs, and the cost of waste overstocking inventories.

Consequently, effective inventory management allows a firm to produce

minimum costs, immediate response, and flexibility in meeting the demand of

the customers (Sigh & Sigh 2013, p.133)

Furthermore, this research recognizes the ABC Analysis, which

Vilfredo Pareto statistically discovered in the 1900's. Pareto's principle of

classification states that ABC Analysis consists of three segmenting items: A,

B, and C. A is considered the most significant, and C is the least important.

Hence, segment A has high usage, B has moderate usage, and Segment C

has low usage in terms of value (Loučanová & Nosáľováe,2020, p.5358).

Moreover, Abdolazimi et al. (2020, p.6641) state that ABC analysis is an

effective technique for classifying different groups of inventories based on

their level of importance. It has been the most popular approach in inventory
 5

management. By applying ABC analysis, agri-vet suppliers can prioritize their

inventory management efforts, focusing on the most valuable segment to

ensure their availability while effectively utilizing the resources.

Limited attention is given to SMEs in the supply area: several existing

studies regarding inventory management in the agriculture sector often focus

on larger cooperatives, wholesalers, and industry-level practices. A research

gap may arise in understanding the particular challenges of inventory

management, for example, experienced by smaller-scale suppliers like

Independent Retailers, Local Distributors, or Family-Owned Businesses.

Valuable insight can be gained by investigating the unique issues they

encounter in inventory management, their strategies for optimizing stock

levels, and their impact on business performance.

To fill this research gap, a study specifically designed for small-scale

agricultural product suppliers would investigate factors such as scarce

resources, market dynamics, and the influence of locally or regionally relevant

conditions on inventory management practices. It could explore topics such as

inventory forecasting techniques, supplier-buyer relationships, technology

adoption, and supply chain coordination within the context of small-scale agri-

vet suppliers.

The study will allow for a more complete understanding of inventory

management practices in the agricultural sector and address particular needs

and difficulties faced by small players within the industry while filling this

research gap. These findings could contribute to developing tailored

strategies and recommendations to improve inventory management efficiency

 6

and business performance and support the sustainability of small-scale

agricultural suppliers. Thus, this study will measure the Inventory

Management of agri-vet suppliers, which is the basis for the Enhancement

Program, with the following indicators: Budgeting practices, Inventory level

management practices, and Display area practices.

The research is conducted in response to these concerns. The ultimate

aim of this research is to assess the inventory management among agri-vet

suppliers in Tagum City. The researchers will get the level of inventory

management using the mean and propose an enhancement program.

Purposely, this study aims to answer the question: What is the level of

inventory management of agri-vet suppliers in terms of budgeting practices,

inventory level management practices, and display area management

practices? The outcomes of this study will provide agri-vet suppliers with a

view of their current inventory management. With the help of this study, agri-

vet suppliers can enhance their inventory management. Also, this study can

offer insights into other similar suppliers involved in inventory management.

Moreover, it will help the Department of Trade and Industry (DTI)

develop policies and oversee the effective implementation of agri-vet supplies

production. Furthermore, the findings of this study will also be available for

future researchers who wish to conduct additional research on the variable

covered by this study. Finally, this study will enhance the technical

competencies of the researchers as they immerse themselves in the field of

research.
 7

METHODS

This section reveals the research methods to be used by the

researchers in conducting the study, which includes the research participants,

research design, and procedure.

Research Participants

The research was focused on the selected agri-vet suppliers in Tagum

City. Specifically, those actively supplying agricultural and veterinary supplies

such as feeds, seeds, pesticides, fertilizers, and medicines. These suppliers

are directly involved in the distribution and supply of products and have first-

hand experience with inventory management challenges and practices. They

also have at least one (1) year of experience in the business.

Furthermore, the study specifically targeted business owners as the

participants. The sampling procedure employed for this study is random

sampling, whereby every member of the population had an equal chance of

being selected (McCombs 2022, para.6). In connection, according to the DTI

office, the total agri-vet suppliers in Tagum City are 229. Table 1 shows the

distribution of the participants.

 8

Table 1
Distribution of Participants

Nature of Business Population Sample Percentage

Veterinary Supply 21 13 5.68%

Agrivet Supply 45 29 12.66%

Pesticides 11 7 3.06%

Feeds 129 82 35.81%

Fertilizer 23 15 6.55%

TOTAL 229 146 63.76%

Research Instruments

Researchers used an adapted questionnaire modified realistically

(Nyabwanga 2012, pp. 20–22). To collect data, the researchers utilized

survey questionnaires. A detailed set of questions was developed to describe

the inventory management variable. This survey is designed to ask questions

about inventory management, including budgeting, monitoring inventory

levels, and managing display areas.

The scale consists of statements validated through practical and

academic questions. Perceived responses were recorded on a Likert scale of

five points. Respondents were asked to rate how much they agreed with

certain statements on the central scale (Joshi et al., 2015). Selected

participants answered a modified questionnaire. In addition, agri-vet suppliers

 9

in Tagum City followed the five Likert scale to answer the questionnaire, in

which 1 was considered ineffective and 5 was enormously influential.

Furthermore, the researchers used the mean as a statistical tool. This

statistical tool was employed to summarize the collected data, providing a

concise and easily interpretable measure of the dataset's central value.

Research Design and Procedure

The study employed a quantitative research design utilizing descriptive

analysis. Descriptive statistics is primarily used in surveys to measure and

describe the data. This statistical method is helpful in the study with single

variables associated with the survey questionnaire (Guest 2019, para.2). Also,

McCombes (2022, para.6) stated that descriptive research is significant in

analyzing a study that involves large volumes of data.

This study was structured, planned, and constructed to produce results

conforming to the research objectives. The variables were not manipulated in

this study. Furthermore, this research utilizes a non-experimental quantitative

method, and the data-gathering process is based on the questionnaire. The

focus of the study was to describe the quantitative data on the inventory

management of agri-vet suppliers.

Upon the approval of the panelist, the researchers performed the

following steps and procedures to gather data for this study.

The researchers sent a letter of permission to the City Mayor to

conduct the study. After the Mayor consented, the researchers sought the

respondents' permission to conduct this study. Afterward, the researchers

 10

personally distributed the survey questionnaire and explained the research

tools and the purpose of conducting the survey.

Moreover, the researchers immediately retrieved the survey

questionnaire right after the respondents answered it. Consequently, the

researchers translated all the data gathered from the respondents. Finally, the

collected data was ready for data analysis, and results were analyzed and

interpreted using the mean as a primary statistical tool. Researchers drew

conclusions based on the study's findings.

RESULTS AND DISCUSSIONS

This chapter presents the study's data and results. The table is

arranged in subheading: Level of inventory management of agri-vet suppliers

in Tagum City with their corresponding indicators.

Level of Inventory Management Among Agri-vet Suppliers in Tagum City

Table 2 shows the mean scores for the inventory management

indicator among agri-vet suppliers in Tagum City, with an overall mean of 4.92

and a standard deviation of 0.16, which is described as very high. The very

high level could be attributed to the very high rating given by the respondents

in all indicators. It means that the respondent's response to inventory

management is very much observed in all items in inventory budgeting,

inventory levels management practices, and shelf-space management

practices.

Table 2. Level of Inventory Management Among Agrivet Suppliers in Tagum

City
 11

Indicators Mean SD Descriptive

Level

Inventory Budgeting Practices 4.90 0.21 Very High

Inventory Levels Management 4.93 0,16 Very High

practices

Shelf-Space Management 4.92 0.17 Very High

Practices

Overall 4.92 0.16 Very High

The cited overall mean score was the result gathered from the

following computed mean scores from highest to lowest: 4.93, or very high, for

inventory levels management with a standard deviation of 0.16; 4.92, or very

high, for shelf-space management with a standard deviation of 0.17; and 4.90,

or very high, for inventory budgeting practices with a standard deviation of

0.21.

Moreover, the leading indicator of Inventory Management that was very

much observed among agri-vet suppliers is the Inventory levels Management

Practices. The result reveals that most of the suppliers in Tagum City

regularly observed the appropriate levels of inventory in the market. This

balance is crucial in agri-vet, where products can be seasonal or have a

limited shelf life. It shows they can meet customer demand without having too

much inventory collecting dust or risking running out of stock. This balance

keeps customers happy and ensures they save money on excess stock or
 12

lose sales due to shortages. Hence, agri-vet suppliers manage their inventory

by determining the proper reorder stock level so that enough inventory levels

are always available to customers. Finally, the result shows that most agri-vet

suppliers in Tagum City rely on computers' effectiveness to monitor the

appropriate maximum and minimum level of inventory in the market.

In addition, among the three indicators of inventory management, shelf-

space management practices have the second-highest mean with a very high

descriptive equivalent. It can be observed in this indicator that the agri-vet

Suppliers consider the stock area when organizing their store shelves

effectively. It's not just about making things look neat; it significantly impacts

how customers experience their store. Well-organized shelves make it easy

for customers to find what they need, enhancing their overall shopping

experience. Plus, it helps minimize the risk of products going bad or becoming

obsolete because everything is in its place. They also considered developing

the stock area to achieve proper inventory organization and, at the same time,

attract customers.

Finally, among the three indicators of inventory management, Inventory

Budgeting Practices are the third highest, with a very high descriptive

equivalent in terms of mean. The data shows that agri-vet suppliers regularly

prepare inventory budgets to manage the appropriate stock level. These

suppliers are smart with their money when it comes to buying inventory. They

plan their finances well, ensuring a good balance between spending wisely

and keeping a steady stock of products. This savvy financial planning not only

helps them manage their budget effectively but also positions them to handle

changes in the market without a hitch. Besides, they also update their
 13

inventory budget to conform to the appropriate level of stock that should be

maintained in the stock area. They can trace inventory movement using

applicable computer software, such as Microsoft Excel.

CONCLUSIONS AND RECOMMENDATIONS

Conclusion

In conclusion, the research shows that agri-vet suppliers in Tagum City

manage their inventory well. The high average score suggests they are

efficient and have effective strategies for handling and organizing their stock.

It implies they understand market demands, product shelf life, and financial

aspects. The high mean in inventory management indicates that these

suppliers keep their stock in check and strike a balance in meeting customer

demands without too much or too little inventory. It is essential in the ever-

changing agri-vet sector.

Overall, the findings highlight the operational excellence of agri-vet

suppliers in Tagum City. They are not just good at controlling stock; they

make strategic decisions, manage finances well, and understand the market

dynamics. These insights can guide agri-vet businesses to improve their

efficiency and contribute to discussions on best practices in inventory

management. This research lays the groundwork for further exploring and

improving strategies to make agri-vet businesses more sustainable and

competitive.

Recommendation
 14

Based on the results of the study, the researchers would like to make

the following recommendations: For agri-vet suppliers, it is recommended to

provide some stocks for the availability to the customer, using a systemized

machine or computer machine to make suppliers much easier for monitoring

the level of inventory management, expanding shelf space for having an open

area for the comfort of customers. These efforts benefit each individual and

business and contribute to the economy and its well-being.

In addition, agri-vet Suppliers should also focus on expanding or

broadening the area as it is more attractive to customers, not only for that but

also to have a good level of arrangement and order of stocks without

comprising the customers. This strategy can help the suppliers get high

numbers of customers and enhance effective marketing and sales for the

business.

Furthermore, future researchers should establish clear objectives, stay

updated on industry trends, assess social-economic impact, propose

recommendations, share findings widely, especially on budgeting practices,

and engage in continuous learning to contribute accessible and affordable

quality products to all valued customers.

Finally, the City Government of Tagum should establish a program for

the agri-vet suppliers in Tagum City to assess those businesses that need to

be more knowledgeable about employing computer programs to manage their

inventory. In addition, the researchers would like to propose an enhancement

program for agri-vet suppliers in Tagum City. The matrix of activities is below.

Table 3. Matrix of Activities for Enhancement Program

 15

KEY SPECIFIC STRATEGIES PERSONS IMPLEMENTING BUDGET OUTCOMES

RESULT OBJECTI / INVOLVE OFFICE REQUIRE
AREAS VES MENT
ACTIVITIES

Inventory To Computer Agri-vet City 50,000 Enhance

Government of
Budgeting enhance skills suppliers Tagum City the literacy
Practices the assessment in Tagum and skills of
computer and seminar agri-vet
City
skills of Suppliers in
the agri- Choosing 60,000 computer
vet appropriate programs to
Research
suppliers computer ers monitor
in Tagum software inventory
City related to manageme
nt.
the agri-vet
business

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