Leveraging on Vendor Managed-Inventory Practice for Sustainable Performance: An Empirical Evidence from Selected Polytechnics in Southwest, Nigeria

Abstract

This study is on leveraging on vendor managed inventory practice for sustainable performance: an empirical evidence from selected polytechnics in Southwest Nigeria. The study used descriptive survey research design and a total of one thousand and thirty-six (1,036) management staff from federal, state and private polytechnics in south west Nigeria constitute the study population. A sample size of five hundred and forty-four (544) determined through multi-stage and stratified sampling technique was used for data analysis. Primary data were obtained through questionnaire while logit regression was employed for the inferential statistical to determine the effects and statistical significance of the relationships between the study variables. The Statistical Package for Social Sciences (SPSS) version 24.0 was applied to process the data and the hypothesis was tested at p-value of = 0.05 level of significance while descriptive statistical analysis was used to identify frequencies and percentages. The finding of the study showed that vendor managed inventory practice cannot be underestimated in determining performance of polytechnics in south west Nigeria. The study recommended that management of polytechnics in South-West Nigeria are advised to first consider the cost of implementing their own inventory system before engaging the service of vendor to manage inventory. This is to enable them minimize the cost of keeping stock and maximize efficiency.