DRIVING EFFICIENCY: INNOVATIVE SUPPLY CHAIN PRACTICES AND PERFORMANCE IN LAGOS STATE BUILDING MATERIALS AND LOGISTICS SECTOR

Abstract

Abstract Today, organizations need to learn the best ways of managing change to stand firm in the current environment where customer expectations are constantly unstable. New technologies are bound to hit the market with increasing competition. The research investigates the Innovative Supply Chain Practices and Performance in Lagos State Building Materials and Logistics sector. The specific hypotheses were to measure the effect of inventory management, logistics management, and supplier relationship management on organizational performance. The study employed a survey design, and with a purposive sampling technique, the research sampled 100 respondents from the selected firms. Survey questionnaires were used to gather data, and single regression was the analytical technique adopted. It was revealed that SRM, good inventory management practice and logistics management influences the performance of organizations. In light of these, the study recommends that organizations should focus their efforts and resources on improving the relational aspect of their supplier interactions as well as investing in sophisticated inventory systems that will enable the tracking and optimization of inventory, improving the flow of transport, warehousing, and distribution options. Actions like these are very useful in establishing a competitive edge for long-term success.