EZEANO Prince Chijioke WALI Andy Fred OGONU Chituru Gibson
Department of Marketing, Faculty of Administration and Management,
Rivers State University Nkpolu-Oroworukwo, Port Harcourt
Abstract
This study examined the correlation between Internet of Things (IoT) and supplier effectiveness of downstream oil and gas companies in Rivers State. A cross-sectional survey design adopted. The population of the study comprised 30 downstream oil and gas companies in Rivers State. A census was taken, while test units were purposively drawn. 6 management staff were engaged from each of the 30 companies to arrive at 180 respondents. Primary data was collected for the study using questionnaire, and was analyzed using Tables, simple percentages, mean scores and standard deviation. The hypotheses formulated for the study were tested using Pearson Product-Moment Correlation (PPMC). The study found that a significantly positive correlation between IoT and supplier effectiveness of downstream oil and gas companies in Rivers State. Hence, the study concluded that IoT significantly relate to supplier effectiveness of downstream oil and gas companies in Rivers State, and recommends that management of oil and gas companies should implement IoT sensors and tracking devices across their supply chain to monitor product location and environmental conditions.
Keywords: Cost minimization, internet of things, supply effectiveness, waste reduction