IBE Kelechi Henry DIDIA James U. D. HAMILTON-IBAMA Lolia Edith-Onajite
Department of Marketing, Faculty of Administration and Management
Rivers State University Nkpolu-Oroworukwo, Port Harcourt
Abstract
This study explored the correlation between information sharing and operational efficiency of oil and gas service providers in Rivers State, focusing on how information sharing relates to cost reduction, time saving and service delivery. Founded on the Resource-Based View, the study adopted a correlational research design with a cross-sectional approach. The population of the study comprised 33 oil and gas services providers. All the companies were surveyed. However, 131 respondents provided data for the study through a semi-structured questionnaire consisting of 16 measurement items, and designed in Likert 5–point scale. The Pearson Product Moment Correlation served as test statistic. The results of test of hypotheses revealed that information sharing relates positively and significantly to cost reduction, time saving and service delivery. Thus, the study concludes that information sharing is pivotal to operational efficiency of oil and gas service providers in Rivers State, and recommends that, oil and gas service providers in Rivers State that seek improved operational efficiency should engage information with key stakeholders in their supply chain.
Keywords: Cost reduction, information sharing, operational efficiency, time savings, service delivery.