Abstract
This study examined the effect of sales planning on inventory control within the Nigerian brewing industry from 2010 to 2025. Inventory control, proxied by optimal order quantity (EOQ), was analyzed against key sales planning determinants: total sales volume, consumer trends (measured via Consumer Price Index), and exchange rate fluctuations. Data were sourced from the audited annual reports of Nigerian Brewery Plc and International Brewery Plc, alongside macroeconomic data from the Central Bank of Nigeria’s Statistical Bulletin. Employing panel regression techniques with Hausman specification testing, the study found that while total sales positively influenced optimal order, the effect was not statistically significant. However, both the consumer price index and the exchange rate exhibited significant positive relationships with optimal order. The findings underscore that inventory control mechanisms, particularly in the brewing sector, are critically responsive to macroeconomic volatility and shifting consumer dynamics. The study recommends the integration of advanced forecasting systems, periodic consumer trend assessments, and strategic hedging against exchange rate risks to enhance inventory efficiency and operational resilience.
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