Conducted by BatStateU
, Started on 2016 -
Completed on 2017
Completed
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The study entitled “Inventory Management in Selected Hardware Businesses in Batangas City” analyzed the assessment of inventory management of hardware businesses in Batangas City. The deficiencies were determined through business profile of the selected hardware businesses with regard to the carrying cost, ordering cost and economic order quantity. The purpose of this study is to determine how to minimize the cost of inventory to achieve a maximum profit. Research has been made which studied and improved many aspects of the management of inventory. With the aim of effective inventory management relating to minimization of costs from the application of inventory policies, the study will explore the efficiency in terms of inventory management aspects. The contribution of the paper to the literature is a proposed action plan to improve management in hardware business which can help to ensure that changes in inventory level will result in minimization of cost and can help managers in managing inventory optimally. The researchers used descriptive method of research to achieve the objectives. The researchers used the total population in choosing their respondents. They covered thirty-six out of the forty-three hardware businesses. Specifically, the managers of each hardware business are the respondents of the study. These hardware businesses were chosen as respondents because of the reliable number of participants that were exposed to an efficient inventory management to meet the target profits due to stiff competition. Findings revealed that majority of the hardware businesses in Batangas City has the capitalization of less than Php 3, 000, 000, have 1-9 employees, operating in 1-5 years, sole proprietorship and with monthly average sales of less than Php 125, 000. Likewise, the study showed that the inventory management in selected hardware businesses in Batangas City was being assessed in terms of carrying cost, ordering cost and economic order quantity. It also stated the top 12 challenges that were encountered by the hardware businesses. Lastly, the implication derived from the findings encourages the hardware business owners to enhance their inventory management practices and lessen the challenges encountered by the business.