Information and Communication Technology’s Effect on Inventory Management

¹Eric Boafo Dadzie | ²Isaac Yornu | ³Lord Emmanuel Yamoah

^1,3Department of Purchasing & Supply, Takoradi Technical University

²Procurement Directorate, Accra Technical University

Abstract

The purpose of this study was to determine how ICT affected inventory control at Anaji Choice Mart in Takoradi. The study specifically aims to determine the extent of IT system usage in inventory management in supermarkets at Anaji Choice Mart, Takoradi, as well as to establish the advantages of IT usage on inventory management at the Mart and to identify the difficulties associated with using IT in inventory management there. The entire staff population of 150 was sampled for this study using a non-probability sampling technique called purposive sampling. Descriptive statistics, such as frequencies and percentages, were used to analyse the data and explain the variable characteristics. According to the study’s findings, Anaji Choice Mart’s inventory management system uses information technology to determine order quantity, forecast demand, stock valuation and accounting, stock keeping units, and just-in-time (JIT) systems. Additionally, it was learned from the respondents that ICT has an impact on the Mart’s inventory management performance, and it was also revealed from the respondents that there are challenges.

Keywords:  Inventory Management | Procurement Planning | Value for Money | ICT | Communication Technology’s

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