IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 9 NO. 6 2024
DOI: 10.56201/wjeds.v9.no6.2024.pg158.178

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Management Of Inventory Practices: A Key Success for Building Organizational Resilience Among Manufacturing Firms in South-South, Nigeria

Okwurume, Clarance Nkasirim & Igwe, Chinyere Emmanuel (Ph.D)

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Abstract

The study investigated the correlation between Management of Inventory Practices and Organizational Resilience among manufacturing firms in South-South, Nigeria. The research used a cross-sectional survey research design and stratified purposive and random sampling methodology. The study comprised a total target population of 498 managerial staff from 30 statistically selected relevant manufacturing firms south south in the study area. Based on this, 221 staff was statistically selected as the sample size. After data cleaning, 200 copies of questionnaire were found fit for use in the analysis, four hypotheses were posited and tested. Data was collected through questionnaires. Management of Inventory Practices were operationalized using inventory planning and control, lean inventory, strategic supplier partnership, and capacity utilization. Organizational resilience was measured using adaptive capability, agility, and robustness. Structural Equation Modelling (SEM) was used to analyze the data and determine the association between organizational resilience metrics and Management of Inventory Practices. The findings indicated a substantial correlation between organizational resilience metrics and management of inventory procedures. It was concluded that Management of Inventory Practices, such as planning and control, and lean inventory, should enhance the resilience among manufacturing firms. It was recommended that firms should invest in advanced inventory tracking systems to monitor and control inventory, enabling a more adaptive response to market conditions and unforeseen disruptions.

keywords:

Management, Inventory Practices, Building, Organizational Resilience

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