IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH (IJSSMR )

E-ISSN 2545-5303
P-ISSN 2695-2203
VOL. 8 NO. 5 2022
DOI: https://doi.org/10.56201/ijssmr.v8.no5.2022.pg18.28

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Consignment Inventory System and Entrepreneurial Success among Micro Warehousing Firms

Dr. Ahunanya, Valentine , Dr. Ovharhe, Orugba Harry , Prof. Emenike, C. Gladys, Prof. Otto, Godly

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Abstract

This study investigated the consignment inventory system and entrepreneurial success among micro warehousing firms. The study adopted cross sectional design and correlation design. Warehousing entrepreneurs practicing consignment inventory system with systemization of passion on micro firms from five south-south states were selected on basis of convenience sampling techniques. A total population of 1000 and sample size of 286 was determined using Slovin's Formula at 0.05 level of significance. The 286 copies of questionnaire were administered, only 257 was deem fit after processing, retriever, coding and cleansing. Three research questions and three hypotheses were raised which was tested with parametric measurement using Pearson Product Moment Correlation because of its bivariate function via SPSS 25 version. From the findings, consignment inventory system strongly correlates with the entrepreneurial success of the micro firms. Hence, the maximum stock level, re-order stock level and minimum stock level has significant influence on the success of the micro firms. Hence, it was revealed that the alternate hypotheses were accepted. Based on the findings and conclusion, it could be recommended that entrepreneurs should design and construct credible validated stock level to ascertain long term success in the enterprise. Also entrepreneur should avoid danger stock level and stock out that would ruins the enterprise ability to achieve her success.

keywords:

Consignment Inventory System, Entrepreneurial Success, Maximum Inventory Level, Re-order Inventory Level, Minimum Inventory Level

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