Influence of competence and perception on attitude of micro-entrepreneurs towards inventory management optimization in Lagos, Nigeria

Abstract

This research work investigated the influence of competence and perception on attitude of micro-entrepreneurs towards inventory management optimization in Lagos, Nigeria. This was undertaken to investigate the competence of different categories of micro-entrepreneurs on how to use simulation process for inventory management optimization; to assess the perception of different categories of micro-entrepreneurs on possible adoption of simulation process for inventory management optimization; to determine the attitude of different categories of micro-entrepreneurs towards adoptability of simulation process for inventory management optimization; and to examine the influence of competence and perception on the attitude of micro-entrepreneurs towards adoptability of simulation process for inventory management optimization. In accomplishing the objectives of the study, the quantitative descriptive survey research design was adopted and data were collected using structured questionnaires, which were administered to 1100 randomly selected micro-entrepreneurs in Lagos State from a population of 3,329,156 to source the primary data for the study. The responses from the questionnaire administered were analyzed using both deductive and inductive statistical tools which include simple custom frequency table to analyze the socio-biographic profiles of respondents; group statistics tables with mean, and standard deviation among others to analyze the research objectives; Pearson Chi-square test, Fisher’s exact test and Kruskal-Wallis test to analyze Ho1 and Ho3; independent samples t-test, and Mann-Whitney U test to analyze Ho2; and binary logistics regression analysis to analyze Ho4. The research findings revealed that only 26.5% of the respondents were competent on how to use simulation process for inventory management optimization and there was no statistical difference in the situation across difference in the situation across different categories of micro-entrepreneurs studied, K-W H test (H(1) = 2.439; p = 0.118 > 0.05). The study also showed an overall mean value, x = 3.6877 for micro-entrepreneurs perception which was strongly positive but there was no statistical evidence to support a difference between the perceptions of the two categories of micro-entrepreneurs in the study area for adoptability of simulation process for inventory management optimization, M-W U = 128346.000, N1 = 342, N2 = 758, Z = -0.263, p = 0.792 > 0.05; and U = 129311.500, N1 = 342, N2 = 758, Z = -0.063, p = 0.950 > 0.05, two-tailed. 84.79% of the respondents were willing and ready for adoption of simulation process for inventory management optimization with necessary training given. In addition, the results revealed that both competence and perception as predictor variables have a statistically significant influence on micro-entrepreneurs’ attitude, x2 (4) = 39.283, P = 0.000 < 0.05. The study, therefore, concluded that competence and perception were significant to the attitude of micro-entrepreneurs towards adoptability of simulation process for inventory management optimization in the study area and that the situation was not significantly different across the micro-enterprise ecosystem studied. Hence, a synergetic partnership among all stakeholders responsible for promoting, supporting and driving the operations of micro-entrepreneurs in Nigeria is recommended towards training programmes for possible adoption of the alternative inventory management optimization approach within the micro enterprise ecosystem.