FACTORS AFFECTING THE EFFICIENCY OF INVENTORY MANAGEMENT FROM SELECTED LICENSED AND REGISTERED WHOLESALE AND RETAIL SMALL BUSINESSES IN GENERAL SANTOS CITY

This study aimed to evaluate the factors that affect inventory management in General Santos City. The method used in analyzing and processing the data is the descriptive quantitative analysis method. To select the sample size for this study, simple random sampling was performed which resulted to 102 respondents out of the 583 overall population. To gather information from the chosen respondents, the researchers used adapted questionnaires. According to the demands and goals of the study, the results gathered using a five-point Likert Scale questionnaire are tabulated and presented. Factors relating to bureaucratic procurement procedure, proper record keeping, funding, and skill possessed by store staff positively affect the effectiveness of inventory management. This study concluded that inventory management highly depends on accurate inventory records, stock information, and knowledgeable and qualified retail staff. Setting aside sufficient funds to purchase an office supply/stock insurance coverage is vital. Petty cash is also necessary to deal with unexpected expenses quickly. Effective inventory management calls for a sufficient amount of resources, skilled store associates, store staff training and growth, a manageable quantity of high-quality suppliers, and a straightforward budget release procedure.