Paper Title
Lean Inventory Practices and Operational Performance of Listed Oil and Gas Companies in Nigeria
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Keywords
Lean inventory practices, just in time, total preventive maintenance, total quality management, firm operational performance
Abstract
This study investigates the relationship between lean inventory practices and firm operational performance in the oil and gas industry in Nigeria. The study considers lean inventory practices in terms of just in time, total preventive maintenance, and total quality management. The empirical analysis is based on cross-sectional data collected through a structured questionnaire instrument from 100 managers representing 10 companies that are listed in the oil and gas sector of the Nigerian stock exchange. All variables are measured using the Likert-type questions with 5 ordered options. The results from empirical analysis show that just in time, total preventive maintenance, and total quality management all have a positive relationship with firm operational performance. However, the effect total quality management is much higher in magnitude while the effect of total preventive maintenance is not statistically significant. The combined effect of the three lean inventory strategies significantly explains about 29% of the total variation in firm operational performance. Therefore, we contend that integration of lean inventory strategies in the existing business model would significantly enhance the operational performance of oil and gas companies in Nigeria.
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How To Cite (APA)
Nnadi, Kenneth Ugochukwu (September-2023). Lean Inventory Practices and Operational Performance of Listed Oil and Gas Companies in Nigeria. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(9), a22-a28. https://ijnrd.org/papers/IJNRD2309004.pdf
Issue
Volume 8 Issue 9, September-2023
Pages : a22-a28
Other Publication Details
Paper Reg. ID: IJNRD_202296
Published Paper Id: IJNRD2309004
Downloads: 000122256
Research Area: Management
Author Type: Foreign Author
Country: Port Harcourt, Rivers, Nigeria
Published Paper PDF: https://ijnrd.org/papers/IJNRD2309004.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2309004
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