Influence of Inventory Management on Sales Growth of Food and Beverage Manufacturing Companies in Nigeria

The study investigated the influence of inventory management on the sales growth of selected food and beverage companies in Nigeria. Cross sectional survey research design was used. The target population comprised 2027 top, middle and lower level managers within the selected food and beverage companies in Lagos State, Nigeria. A stratified random sampling technique was used to select the sample size of 434. A structured closed ended questionnaire was used to collect data. Cronbach's alpha coefficients for the constructs ranged from 0.709 to 0.867. Hypotheses were tested using inferential statistics with the aid of SPSS V 25.0. The findings revealed that inventory management had significant effect on sales growth of selected food and beverage manufacturing companies in Nigeria Adj R 2= 0.390, F 4, 351 = 57.779, p 0.05 . There were significant influence ofinventory turnover, information technology, and inventory reorder point on sales growth of selected food and beverage manufacturing companies in Nigeria. However, inventory forecasting did not significantly influence sales growth of selected food and beverage manufacturing companies. The study concluded that inventory management significantly influence sales growth of selected food and beverage manufacturing companies in Nigeria. The study therefore recommends that management of the food and beverage manufacturing companies in Nigeria should ensures adequate implementation inventory management mechanisms in order to enhance high level of sales growth. Akinlabi, B. H. | Sonko, M. L. "Influence of Inventory Management on Sales Growth of Food and Beverage Manufacturing Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47615.pdf Paper URL : https://www.ijtsrd.com/management/business-and-retail-research/47615/influence-of-inventory-management-on-sales-growth-of-food-and-beverage-manufacturing-companies-in-nigeria/akinlabi-b-h