Department of Management & Accounting

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Department of Management and Accounting

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Browsing Department of Management & Accounting by Author "Chukwudi OKONYE"

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    E-procurement and Organizational Performance of Oil and Gas Services Companies in Rivers State Nigeria
    (2022-12) Chukwudi OKONYE
    E-procurement is a collaborative procurement of goods, works and services using electronic methods in every stage for bringing in efficiency and transparency. E-procurement integrates the buyers and suppliers through relevant IT system and automates the purchasing and procurement process of a company. This study identify that some of the problems that can arise as a result of non-electronic procurement process, this could be delay in sourcing, tendering, vendor selection, lack of alternate options, delay payment (mostly through the manual process), ordering and order-delivery time. The purpose of the study was to investigate the relationship between e-procurement and organizational performance of oil and gas services companies in Rivers State. However, a sample of one hundred and forty-nine (149) companies from which one respondent consisting of relationship manager/procurement manager/marketing manager/logistics manager/ITC manager from each of the companies was given questionnaire to provide data for the study. Data were collected through the questionnaire method designed in the Likert 5-poinit scale of strongly disagree to strongly agree and analyzed using descriptive statistics of mean, standard deviation, variance, frequency distribution, and bar chart. Six hypotheses in the study were tested using Pearson product moment correlation. Furthermore, multiple regression analysis was used to measure the combined effects of all dimensions on each of the measures. These analyses were done with the aid of the Statistical Package for Social Sciences (SPSS) version 22.0. From the analyses it was found that, there is a strong and very strong relationship between e-tendering and market share and profitability respectively. Again, e-payment has moderate relationship with market share and profitability. Also, there is a very strong and strong relationship between e-ordering and market share and profitability respectively. Furthermore, all the results were positive and significant. This study adopts a cross sectional research design because it deals with getting data from target respondents and determining the association between variables. It is recommended that oil and gas services companies should adopt e-procurement as a strategic tool in their quest towards achieving and maintaining organizational performance in terms of market share and profitability