Procurement and Logistics Services as Determinant of Corporate Performance Among Selected Glass Manufacturing Firms in Ogun State
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Date
2022-12
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Publisher
Lead City University
Abstract
Procurement and logistics are recognized as a contemporary concept that leads in achieving benefits of both operational and strategic nature. Basically, this study was carried out to investigate the impact of procurement and logistics practices on the corporate performance of manufacturing firms. Secondary source of data was used and the data were gathered from annual report of twenty (20) quoted manufacturing firms in Nigerian Stock Exchange (NSE). Ordinary Least Square (OLS) regression techniques was adopted for the study The result of finding showed that there is a significant relationship between procurement and logistics practice and manufacturing firms’ performance in Nigeria. With the R2 is 0.7216, which implies that about 72% of the changes in LCOP is as a result of changes in the independent variables in the model, i.e. changes in values of LCBBP, LCBIL and LSLTR, while 28% is caused by factors not included in the model and also, the results of the F-stat revealed that the variables are jointly significant in explaining LCOP at 5% significant level. Based on the result of findings, it was recommended that organisation needs to increase the effectiveness of procurements and logistics as well as finding better ways of evaluating this effectiveness and also, organisation should also strive to ensure that money spent on procurements and logistics yield better results.
Keywords: Procurement, Logistics, Corporate performance, Manufacturing firm
Word Count: 217