INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016
Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI)
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.
Keywords:
Lean inventory practices, just in time, total preventive maintenance, total quality management, firm operational performance
Cite Article:
"Lean Inventory Practices and Operational Performance of Listed Oil and Gas Companies in Nigeria", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 9, page no.a22-a28, September-2023, Available :http://www.ijnrd.org/papers/IJNRD2309004.pdf
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ISSN:
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
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