IMPACT OF EFFECTIVE INVENTORY MANAGEMENT AND CONTROL ON THE GROWTH OF A MANUFACTURING COMPANY. A STUDY OF FIRST BANK NIGERIA PLC, ABA

This research work focused on Impact of Effective Inventory Management and Control on the Growth of a Manufacturing Company. A study of First Bank Nigeria Plc, Aba. Poor customer satisfaction, Poor customer loyalty and decline in sales growth were the problems that led to this study. ​The objectives of the study are: ​To ascertain the extent to which stock to sale ratio affects customer satisfaction. ​To investigate the extent to which rate of return affects customer loyalty. ​To determine the relationship between cost per unit and sales growth. ​Methodology: The researcher adopted the survey research design. The data was collected from both the primary and secondary sources. The primary data was gotten from questionnaire, interview and personal observations while the secondary data was gotten from textbooks, journals and library. The population size was 150 while the sample size of 109 was determined with the aid of Taro Yamane’s formula. The simple random sampling technique was used in selecting the sample size. Data analysis was done with the help of tables and percentages while chi-square (\chi^2) statistical tool was used in testing the formulated hypotheses. ​Findings and Recommendations: After data analysis, it was found that stock sale ratio has significant effect on customer satisfaction in First Bank Nigeria Plc, Aba. Based on the findings, it was recommended that there is need for organizations to train their personnel in the area of inventory management in order to satisfy their customers.