Logistics Management Initiatives and Sales performance of Oil and Gas Firms in Rivers State
Abstract
This study examined the relationship between logistics management initiatives and sales performance of oil and gas firms in Rivers State. Two objectives, two research questions and two research hypotheses were formulated and tested. The study adopted correlational survey research design. Population of the study comprised of twenty-five (25) oil and gas companies. Data for this study were collected through primary data source; the questionnaire was the instrument used in collecting primary data. A total of two hundred and fifty copies of the questionnaire were distributed in a frame of 10 copies per firm. Reliability analysis was performed on the data using the Cronbach Alpha coefficient and it stood at 0.98. The data collected for the study were analyzed through descriptive and inferential statistics. The Pearson Product Moment Correlation was adopted. The findings revealed a significant relationship between stock management and sales performance of oil and gas firms. Again, findings revealed a significant relationship between warehousing management and sales performance of oil and gas firms. The study concludes that logistics management practice is a precursor to sales performance of oil and gas firms in Rivers State. The study recommends that oil and gas firms in Rivers State should incorporate transport management, have sufficient inventory or stocks to suit the customer requirements and they should be sensitive in terms of warehousing management because storage plays a key role in maintaining the value of products in terms of sustaining its quality at the logistics center or warehouse.
Keywords
Logistics management initiativeswarehousing managementstock management Sales performanceOil and Gas Firms.
References
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