Enhancement Mechanism of Small and Medium Scale Enterprise for Valuable Administration of Account Receivable and Inventory Management in Cross River State Nigeria
DOI:
https://doi.org/10.47941/jepm.1238Keywords:
Enhancement Mechanism, SMEs, Account Receivable and Inventory managementAbstract
Purpose: This study was carried out to determine the Enhancement mechanism of small and medium scale enterprise for valuable administration of account receivable and inventory management in cross river state Nigeria.
Methodology: Two research questions and two null hypotheses were formulated to guide the study. Descriptive survey research design was used in carrying out this study, with total population of 437 registered SMES. The sample size of two hundred and ten (210) Small and Medium Enterprises was drawn for the study using Taro Yamen formulae .the sample which is made up of One hundred and fifty six (156) Small Scale Enterprises and fifty four (54) Medium Scale Enterprises in Cross River State were composed using multi-stage sampling. Questionnaire for enhancement of SMES of account receivable and inventory management (QEMOSMEOARI) was used. The questionnaire was validated by 3 lecturers: 2 from Department of Business Education and 1 from Department of science education. The reliability coefficient was 0.902 and 0.79 and with overall reliability coefficient of 0.891 was obtained through cronbach alpha method. Mean was used to answer the research questions, while the hypotheses were tested using t - test statistic at 0.05 level of significance.
Findings: The results indicated that the SME needed more enhancements on her accounts receivable and inventory management; SMEs There is no significant difference between the mean responses of small scale enterprises and medium scale enterprises on the Enhancement mechanism of accounts receivable and inventory in Small and Medium Scale Enterprises in Cross River State.
Unique Contribution to Theory, Policy and Practice: Some recommendations were made to help facilitate the enhancement mechanism of smes. These include; the Business education students should be taught innovative and relevant skill on accounts receivables and inventory management to enable them stand the better chance of succeeding in their business. Recommendation was made that business education students should be taught relevant innovative and skills on account receivable and inventory management
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