Inventory Control Systems, Record Accuracy, and Stockout Frequency among Selected Retail Businesses in Tamale Metropolis
DOI:
https://doi.org/10.59413/ajocs/v7.i5.24Keywords:
Inventory Control Systems, Record Accuracy, Stockout, Retail SectorAbstract
Inventory management is a crucial aspect of retail operations, as proficient stock oversight affects product accessibility, operational efficacy, client contentment, and overall firm effectiveness. Nevertheless, numerous retail enterprises persist in encountering erroneous inventory documentation and recurrent supply shortages as a result of deficiencies in inventory management protocols. This research investigates the correlation between inventory management systems, precision of records, and the incidence of stockouts in chosen retail enterprises. The research aims to evaluate the inventory management systems utilised by chosen retail enterprises, ascertain the precision of inventory records, and investigate the obstacles faced by retail firms in the execution and functioning of inventory control systems (ICS). The research employed a quantitative methodology utilising a cross-sectional survey framework. Data were gathered from chosen retail establishments via standardised questionnaires distributed to proprietors, managers, inventory personnel, and other staff engaged in inventory oversight. Descriptive statistics were utilised to encapsulate the data, whereas correlation and regression analysis would be applied to investigate the associations among inventory control systems, record precision, and stockout occurrence. The research is anticipated to illustrate that proficient inventory management systems, such as routine stock assessments, digital inventory solutions, adequate record-keeping, inventory oversight, and methodical reorder strategies, enhance the precision of inventory records and diminish stockout occurrences. The results offer valuable perspectives for retail enterprises aiming to bolster inventory management strategies, augment product accessibility, reduce inventory inconsistencies, and optimise operational effectiveness. The research enhances the existing literature on inventory management by offering actual data regarding the correlation between inventory control systems, record precision, and stockout occurrence in the retail industry.
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Copyright (c) 2026 Williams Kwame Boateng (Author); Michael Kwakye-Mensah (Translator)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
