An Empirical Study of the Effects of Strategic Supply Chain Management on Operational Costs: A Study of Logistics Firms in Kogi State
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Background of the Study
Strategic supply chain management (SCM) refers to the deliberate design and management of the flow of goods and services from suppliers to customers, aimed at creating value through cost reduction, increased efficiency, and improved customer satisfaction (Hugos, 2023). SCM has become an essential element for companies looking to optimize their operational costs and enhance their competitive edge, particularly in industries like logistics, where efficiency is a critical factor for success.
Logistics firms in Kogi State, like those in many parts of Nigeria, operate in a challenging environment marked by poor infrastructure, transportation bottlenecks, and fluctuating fuel costs. Efficient SCM can help mitigate these challenges by streamlining processes, reducing waste, and optimizing the use of resources. However, the relationship between strategic SCM practices and operational cost reduction remains underexplored in the context of logistics firms in Kogi State. This study will investigate how strategic SCM practices affect the operational costs of logistics firms in Kogi State.
Statement of the Problem
Logistics firms in Kogi State face significant challenges in managing operational costs, which are exacerbated by inefficiencies in supply chain management. While SCM has the potential to reduce operational costs, many firms in Kogi State have not fully implemented strategic SCM practices. This study seeks to empirically analyze the effect of strategic supply chain management on operational costs within logistics firms in Kogi State (Ogunyemi & Musa, 2023).
Objectives of the Study
- To evaluate the strategic supply chain management practices adopted by logistics firms in Kogi State.
- To assess the impact of strategic SCM on the operational costs of logistics firms in Kogi State.
- To identify the challenges logistics firms in Kogi State face in implementing effective supply chain management strategies.
Research Questions
- What strategic supply chain management practices are adopted by logistics firms in Kogi State?
- How do strategic supply chain management practices affect operational costs in logistics firms in Kogi State?
- What challenges do logistics firms in Kogi State face in implementing strategic supply chain management?
Research Hypotheses
- Strategic supply chain management practices lead to a reduction in operational costs for logistics firms in Kogi State.
- Logistics firms in Kogi State that adopt strategic SCM practices perform better in terms of cost efficiency than those that do not.
- Logistics firms in Kogi State face significant challenges in implementing strategic supply chain management practices.
Scope and Limitations of the Study
The study will focus on logistics firms in Kogi State that have implemented strategic supply chain management practices. Limitations include the difficulty in obtaining detailed financial data from firms and the potential for bias in reporting the effectiveness of SCM practices.
Definitions of Terms
- Strategic Supply Chain Management (SCM): The management of the entire supply chain, from suppliers to customers, with the goal of optimizing efficiency, reducing costs, and improving service delivery.
- Operational Costs: The expenses associated with the day-to-day functioning of an organization, including transportation, labor, and materials.
- Logistics Firms: Companies involved in the planning, implementation, and management of the movement and storage of goods and services.
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