Effects Of Inventory Management Practices On Performance Of Public Technical Universities In Ghana

When we consider the types of business entities that benefit from effective inventory management and control,the term university may not actually come to mind.Although universities are nonprofit organizations operating with the help of the government,effective inventory management is still necessary because inventory accounts for an increasing percentage of total annual operating costs.This study examines the impact of asset inventory management factors on the performance of the Ghana University of Science and Technology.These factors are made up of accuracy,capability,investment,shrinkage,performance and turnover.We collected 399 relevant data from Ghana University of Science and Technology using the Likert scale questionnaire.Smart PLS was used to analyze the data.The evaluation criteria for each hypothesis is the p-value of each path coefficient.In addition,the t value is used to indicate whether a hypothesis is supported.However,the impact of inventory investment on inventory capacity and inventory turnover rate on the inventory capacity directly affect inventory management.Furthermore,of the nine assumptions,six were supported and the remaining three were not.Six hypotheses indicate that asset inventory management has a significant positive impact on GUST performance.This study shows that the improvement of inventory accuracy,inventory investment and organization operation can improve the level of asset inventory management.In addition,enhanced organizational performance can provide institutions with additional funding to implement various scientific inventory management techniques.This paper shows that inventory managers should pay attention to inventory project management to reduce inventory cost-related losses.