The Inventory Management Practices of the Retail Automotive Industry in Pangasinan
Keywords:
Inventory Management, Retail Automotive Industry, PangasinanAbstract
Inventory management is an important aspect of the retail automotive industry. This study used the descriptive survey type of research in a quantitative approach in assessing the effectiveness of inventory management practices of the retail automotive industry in Pangasinan, most of which are owned by sole proprietors, with capitals less than P3,000,000, with 1 to 99 employees, and have been operating for 2 to 5 years. The respondents assessed their inventory management practices as to procurement, receiving, and dispatching practices as very effective. Respondents deemed storage and stock audit as effectively practiced. The respondents assessed the inventory management information system as fairly effective. While the other inventory management practices have no significant difference when grouped according to the profile of the respondents, there is a significant difference in the inventory practices of the management information system when grouped according to the number of years in the operation. The findings present that retail automotive businesses may explore information systems to enhance their inventory management practices.
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