SHEDRACH Obiyemie Marian,
ADIELE Kenneth Chima
OGONU Chituru Gibson
Department of Marketing, Faculty of Administration and Management
Rivers State University Nkpolu-Oroworukwo, Port Harcourt.
Abstract
This study examined the impact of weighted-point method of vendor evaluation on vendor efficiency in downstream oil and gas firms of Rivers State. The specific objectives was to ascertain the extent to which weighted-point method impact timely delivery, improved quality and cost reduction of downstream oil and gas firms in Rivers State. The population of the study comprised 30 downstream oil and gas firms in Rivers State. Considering the size of the population, the study took a census. A structured questionnaire designed in Likert 5-point scale was used to collect data from respondents. The data collected were analyzed using the linear regression statistic. The analysis revealed that weighted-point method of vendor evaluation, have positive and statistically significant impact on timely delivery, product quality, and cost reduction of downstream oil and gas firms in Rivers State. Based on these findings, the study concludes that, weighted point method have positive and significant impacts on vendor efficiency in the downstream oil and gas firms in Rivers State. Therefore, the study concludes that weighted-point method of vendor evaluation is a strong determinant of vendor efficiency, and recommended that downstream oil and gas firms in Rivers State that seek increased vendor efficiency in terms of timely delivery, improved quality and cost reduction should adopt weighted-point method of vendor evaluation when assessing vendor for the supply of required materials.
Keywords: Cost reduction, improved quality, timely delivery, vendor efficiency, weighted-point method.
