Supply Chain Disruption Risk and Market Performance in Nigeria: A Case of Oil and Gas Marketing Companies
DOI:
https://doi.org/10.47672/ajscm.1691Keywords:
Supply chain risks, Natural Disasters, Man-made Hazards, Macro-economic Events, Market PerformanceAbstract
Purpose: Studies across developed and emerging economies alluded to the persistent decline in the performance of oil and gas marketing firms, which had been attributed to both micro-economic and macro-economic factors. The objective of the study was to determine the effect of supply chain disruptions on market performance of selected oil and gas marketing companies in Lagos State, Nigeria.
Materials and Methods: The study adopted a survey research design. The total population of the study was 1,044 full-time employees of five selected oil and gas marketing companies in the downstream sector of the petroleum industry in Nigeria. The study sampled three hundred and sixty-two (362) respondents, who participated in the study. Stratified random sampling method was adopted, because it ensures less homogeneity, and a true representative of the sample, thereby the accuracy of statistical results can be higher than that of simple random sampling. Structured questionnaire was used to collect the primary data from the sample size. The research targeted 362 respondents in the survey, while 322 copies of the questionnaire administered were filled and returned. Therefore, the response rate was 91.7%.
Findings: The three independent variables that were studied, explained 4.8% of the market performance as represented by adjusted R-square. This, therefore, meant that other variables not studied in this research contributed 95.2% of the market performance.
Implications to Theory, Practice and Policy: The study recommended that oil and gas marketing companies should increase their commitment to adopting scenario planning and supply chain mapping strategies, in order to mitigate risks threatening their supply chains, in order to accomplish better performance.
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