E- Procurement Practices and Operational Efficiency of Oil and Gas Equipment Companies in Rivers State
Abstract
The study assessed the influence of e-procurement practices on operational efficiency of oil and gas equipment companies in Rivers State. The objectives of the study were specifically, to determine the extent to which e- sourcing and e- ordering relate to operational efficiency. The study adopted an explanatory research design, specifically the correlational investigation. The population of this study consists of thirty-one (31) oil and gas equipment companies in Rivers State. The study took a census. Two (2) respondents were drawn from each of the companies making a total of sixty- two (62) respondents to whom copies of structured questionnaire were administered. The hypotheses were evaluated with a threshold of 0.05, using the simple regression with the aid of statistical packages of social science (SPSS) version 25.0. The study found that practices of e- procurement such as e- sourcing and e- ordering has very strong positive influence on operational efficiency. In view of these findings, we concluded that both e-sourcing and e- ordering influence operational efficiency of oil and gas equipment companies in Rivers State. It is the recommendation of this study that the management of the oil and gas equipment companies should focus on investing more with regards the development and reinforcement of E-sourcing and E- ordering platforms and systems that drive the operations of the organization, thereby promoting its practice and application within the context of the organization.
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