Multiple Inventory Sourcing and Financial Performance of Contemporary Bakery Enterprises in Akwa Ibom State, Nigeria

The bakery industry plays a vital role in Nigeria's food manufacturing sector, yet bakery enterprises in Akwa Ibom State continue to face challenges arising from unstable supply conditions, inflation, and ineffective inventory sourcing decisions. Despite the widespread use of multiple inventory sources, many bakeries experience inconsistent revenue outcomes, suggesting uncertainty about how different sourcing strategies influence financial performance. This study therefore examined the effect of multiple inventory sources on the financial performance of bakery enterprises in Akwa Ibom State, with revenue growth as the proxy for financial performance. Specifically, the study focused on supplier base size, inventory source types, supplier concentration, and supplier switching. A survey research design was adopted. The population comprised staff involved in inventory and financial management across bakery enterprises in Akwa Ibom State. A total population of 118 staff members was identified and, due to its manageable size, the entire population constituted the sample size using a census sampling technique. Primary data were collected through a structured questionnaire designed on a 5-point Likert scale. Data were analyzed using Ordinary Least Squares (OLS) regression with the aid of SPSS version 21. The findings revealed that supplier base size, inventory source types, and supplier switching have significant positive effects on revenue growth, while supplier concentration showed a negative but statistically insignificant effect. The study concludes that diversified and flexible inventory sourcing strategies enhance revenue growth and overall financial performance of bakery enterprises in Akwa Ibom State. Consequently, it recommends that bakery managers expand their supplier base, diversify inventory source types, avoid excessive dependence on few suppliers, and maintain flexibility in switching suppliers to improve competitiveness and sustainability.