Factors Influencing Effective Inventory Management in the Textile Industries of Bangladesh

The aim of the study is to examine the factors that influence effective inventory management in the Textile Industries of Bangladesh. Five factors namely, planning for inventory management (PL), record keeping (RK), procurement (PR), staff characteristics (SC) and storage system (SS) have been used for justifying the effective inventory management (EIM). There are 1461 textile companies in Bangladesh, but in this study the target population area has been considered for Chittagong only; there are 152 textile companies in Chittagong area. In each company's concerned authorities, like, Head of Administration, Store Officer, Commercial Officer, Accounts Manager and Production Manager has been considered as population for this study. Therefore, with considering at least one concerned person, the target population becomes (152*5) 760. Out of these 760 populations, 120 respondents have been considered as sample for this study. 10% pilot test was done to confirm the validity and reliability of the research instrument. The collect data was analyzed with the help of Statistical Package for Social Science Version. It is found that planning for inventory management (PL), staff characteristics (SC) and storage system (SS) have positively and significantly influenced the effective inventory management (EIM).