Vendor Inventory Management System and Sale Performance of Nigerian National Petroleum Corporation’s Retail Outlets in South-West, Nigeria
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Date
2015
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Kisubi Brothers University College. Uganda.
Abstract
The attendant costs of stock-out have made vendor inventory management a mechanism through which such costs could be prevented. This study examined the influence of vendor inventory management system on sale revenue of NNPC’s retail outlets as one of the chain distribution business in South-west Nigeria. Data were collected from NNPC’s statistical bulletin (stocks of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO, Dual Purpose Kerosene (DPK) as well as sale Revenue of the selected products) from (2005-2012). Descriptive method and Error Correlation Model of regression were used to analysis the data. The result revealed that the overall effect of the vendor management policies of the three products sold by the organisation has positive effect on the sales revenue of the organisation and the result is statistically significant (P = 0.000, < 0.05). From the findings, it was recommended that, organisations should embrace the Vendor Inventory Management (VIM) concepts to improve and achieve robust sale revenue in the present day chain distribution management business. Products should be replenished on continuous basis rather to be increasing the prices of the organisation’s products.
Description
Adeoti, J. O., Gbadeyan, R.A. and Babatunde, B.O. (2015): “Vendor Inventory Management System and Sale Performance of Nigerian National Petroleum Corporation’s Retail Outlets in South-West, Nigeria” (Forth Coming) Kisubi Brothers University College. Uganda. Issue 1, Volume 4, pp: 175 – 179.
Keywords
Vendor, Inventory Management, Sales Revenue, NNPC