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.pg29.42

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Consignment Inventory System and Entrepreneurial Survival in Lagos State

Dr Ovharhe, Orugba Harry (Ph.D), Dr Ahunanya, Valentine (Ph.D) , Dr Woko Emmaunel Boma (Ph.D)

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Abstract

This study investigated consignment inventory system and entrepreneurial survival in Lagos State. The study adopted cross-sectional survey and quasi-experimental method. With the aid of accidental sampling technique andproportionate stratified random sampling technique, the total population of 98 and sample size of 83 was determined using Slovin's Formula at 0.05 level of significance. The 83 copies of questionnaire were administered, only 72 was deem fit after processing, retriever, coding and cleansing. The Split-half method of reliability accompany with Spearman Brown Prophesy formula. Two research questions and two hypotheses were raised which was tested with parametric measurement using Pearson Product Moment Correlation because of its monotonic function via SPSS 25 version. From the findings, consignment inventory system aligned corporate bond with innovation and adaptability. Hence, inventory control strongly correlates significantly entrepreneurial survival. Hence, it was revealed that the alternate hypotheses were accepted. It could be recommended that employee at all level should be train on innovative skills on how to control inventory in the long run and short run. The consciousness on the philosophy of survival should be the spirit of leadership in the enterprise.

keywords:

Consignment Inventory System, Entrepreneurial Survival, Inventory Control, Innovation, Adaptability

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