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Inventory Control Management And Revenue Generating Capabilities Of Oil And Gas Drilling Firms In Nigeria

Author

Listed:
  • OMODERO, Cordelia Onyinyechi

    (Faculty of Management and Social Sciences, Clifford University)

  • JOSEPH, Fineboy Ikechi

    (Faculty of Management and Social Sciences, Clifford University)

  • OKEZIE, Uzochi Chinkata

    (Faculty of Management and Social Sciences, Clifford University)

Abstract

The critical role of effective inventory control has been much emphasized in the oil and gas industry which is subdivided into upstream and downstream sectors with drilling activities falling within the upstream sub-sector. In light of this development, this study investigates effective inventory control and effective drilling activities of oil and gas drilling firms as well as its relationship with revenue generating capabilities of oil drilling firms in Nigeria. Simple random sampling technique was adopted. Presentation and analyses of primary data collected with questionnaires and testing of the hypotheses were done using percentage and Spearman’s Rank correlation coefficient. The results from the tests with the use of SPSS show positive and significant correlation between ineffective inventory management and downtime in the operations of oil and gas drilling with a correlation value of 0.682 with p-value = 0.001

Suggested Citation

  • OMODERO, Cordelia Onyinyechi & JOSEPH, Fineboy Ikechi & OKEZIE, Uzochi Chinkata, 2019. "Inventory Control Management And Revenue Generating Capabilities Of Oil And Gas Drilling Firms In Nigeria," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 19(4), pages 75-95.
    • Handle: RePEc:ris:sphecs:0317
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    References listed on IDEAS

    as
    1. Sila Çetinkaya & Chung-Yee Lee, 2000. "Stock Replenishment and Shipment Scheduling for Vendor-Managed Inventory Systems," Management Science, INFORMS, vol. 46(2), pages 217-232, February.
    2. Prempeh, Kwadwo Boateng, 2015. "The impact of efficient inventory management on profitability: evidence from selected manufacturing firms in Ghana," MPRA Paper 67889, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    inventory control; downtime; oil drilling firms; termination of contract; inventory management; loss of income;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • H29 - Public Economics - - Taxation, Subsidies, and Revenue - - - Other
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management

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