AN EVALUATION OF INVENTORY MANAGEMENT PROCEDURE IN NIGER TRAINING RESTAURANT, FEDERAL POLYTECHNIC IDAH, KOGI STATE.
Abstract
This study examined an evaluation of inventory management procedure in Niger training restaurant, federal polytechnic idah, kogi state. The objectives of the study are to examine the inventory stock management (food and beverages cost, maintenance supplies cost, operating supplies cost, and general stores cost), to analyse the effect of inventory management (food and beverages cost, maintenance supplies cost, operating supplies cost, and general stores cost) IN Niger training restaurant and to determine the important of inventory stock management (food and beverage) in Niger training restaurant Federal Polytechnic Idah. The research use both primary and secondary methods of data collection for the study, yaro yamens fomular was used for the determination of samples size and 95 questionnaire were fully administered for the study. The research review that restaurant have a formal inventory management system and they have being practice it, the research also noted that, they are challenges faced in inventory management, it’s revealed that they have good and reliable hospitality service in the study area and also that Inventory turnover rates are reviewed to improve efficiency, it was noted that that Inventory levels are monitored regularly to avoid excesses or shortages.The study concludes that inventory management is a critical determinant of financial performance for Nigerian hospitality firms. Practical recommendations include the adoption of just-in-time ordering, investment in simple inventory tracking technologies, staff training in demand forecasting, and tighter supplier contracts to reduce holding costs.
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