The Role of Management Information System in the Management of Inventory for Record Keeping in Ahmadu Bello University Micro Finance Bank

Effective record management is critical in financial institutions, and Management Information Systems (MIS) can play a pivotal role in ensuring accurate and efficient inventory management. This research investigates the role of MIS in managing inventory for record-keeping at ABU Microfinance Bank. The research aimed to unravel the types of MIS available at ABU Microfinance Bank for record-keeping, the types of inventories the bank manages, and the role MIS plays in the management of these records. To achieve this, a survey research method was employed, with questionnaires administered to 37 staff members of ABU Microfinance Bank. The study revealed that sales and marketing was the major MIS used at ABU Microfinance Bank. Manual methods was found to be predominantly used for inventory management and record-keeping. Meanwhile, majority of respondents highlighted that MIS plays a significant role in managing data, aiding in the overall record-keeping process. This suggests that the bank's use of MIS for inventory control is limited, which could hinder operational efficiency. The study recommends that ABU Microfinance Bank expand its use of MIS to include process control, inventory control, and accounting and finance systems. Additionally, perpetual and finished goods inventory management systems should be integrated for more effective record-keeping. By enhancing the scope of MIS, the bank could significantly improve its inventory management processes and overall efficiency.