William Akoto Oppong
Department of Procurement, Business University of Costa Rica
School of Finance & Financial Management
Email: waoppong@gmail.com
Abstract
Given that National Medical Store is a distribution industry in a resource limited setting the study was carried out to investigate the effectiveness of inventory and stores management on turnover for National Medical store in a resource limited setting. The study uses a cross sectional research design methodology where National Medical Stores is a case study with an objective of evaluating the effectiveness of inventory monitoring and information management on turnover. Data was collected mainly from primary sources using self-administered questionnaires. The findings arising from this evaluation reveals that inventory management practices are effective on inventory turnover. The established that inventory information management had a strong effect on demand forecasting and direct effect on turnover. The study also finds that it is possible to improve inventory management and optimize inventory turnover, a number of operational strategies are implemented. To achieve a study upward trend in turnover growth, inventory management practices must therefore be carried out efficiently. The study therefore recommended that continuous growth in turnover must be implemented through interventions through organizational policy and operational efficiency affecting inventory management practices.
Keywords: Effectiveness of Inventory, Stores Management, Turnover Performance
