You have no items in your shopping cart.
ABSTRACT
Inventory can be cost saving when managed properly. It can also help an organisation improve customer service which leads to customer satisfaction and better market performance. This research work concentrated on inventory management and market performance of hospitality industry in Nigerian, with an insight of fast food restaurants in Benin City, Edo State. Survey method of research design was adopted and a sample size of 52 was determined using Taro Yameni Formula. The data collected through the use of questionnaires were analysed using Simple Percentages and the Chi Square (x2) method. The study shows that inventory cost increase has a significantly high negative effect on the market performance of hospitality industry in Nigeria. There is a significant positive relationship between the availability and adequacy of inventory and customer satisfaction, hence increased market performance. The study also shows that when inventories are well monitored, the organisation does not incur additional re-order cost, hence, increasing her market performance. The study recommended that hospitality industry in Nigeria should strategically handle their inventories to reduce cost, ensure availability and adequacy of materials and also ensure to monitor and secure them to maintain customer satisfaction and also increase market performance.
