An Evaluation of Supply Chain Analytics in Inventory Management: A Case Study of Pharmaceutical Companies in Niger State
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Background of the Study
Supply chain analytics (SCA) leverages data and advanced analytics techniques to optimize supply chain processes, including inventory management. In the pharmaceutical industry, efficient inventory management is crucial to ensure the availability of essential medicines while minimizing costs and waste (KPMG, 2024).
In Niger State, pharmaceutical companies face challenges such as stockouts, overstocking, and expiration of drugs due to inefficient inventory management practices. SCA offers a solution by providing insights into demand patterns, inventory levels, and supply chain risks. However, the adoption of SCA remains limited among pharmaceutical companies in the region (Usman & Bello, 2023). This study evaluates the role of SCA in enhancing inventory management in pharmaceutical companies in Niger State.
Statement of the Problem
Poor inventory management is a persistent issue for pharmaceutical companies in Niger State, leading to significant financial losses and compromised service delivery. Traditional inventory practices often lack the sophistication needed to handle the complexities of modern pharmaceutical supply chains. While SCA has been proven effective globally, its impact on inventory management in Niger State is not well-documented (Ali et al., 2024). This study investigates the role of SCA in addressing inventory management challenges in pharmaceutical companies.
Objectives of the Study
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To assess the adoption of SCA in pharmaceutical companies in Niger State.
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To evaluate the impact of SCA on inventory management efficiency.
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To identify challenges faced by pharmaceutical companies in implementing SCA.
Research Questions
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What is the level of adoption of SCA in pharmaceutical companies in Niger State?
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How does SCA impact inventory management efficiency?
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What challenges hinder the implementation of SCA in pharmaceutical companies?
Research Hypotheses
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There is no significant relationship between SCA adoption and inventory management efficiency.
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SCA does not significantly reduce stockouts or overstocking in pharmaceutical companies.
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Challenges in implementing SCA are not significant in pharmaceutical companies in Niger State.
Scope and Limitations of the Study
The study focuses on pharmaceutical companies in Niger State, examining their use of SCA for inventory management. Limitations include access to proprietary inventory data and variability in the adoption of analytics tools across companies.
Definitions of Terms
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Supply Chain Analytics (SCA): The application of data analytics techniques to optimize supply chain processes.
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Inventory Management: The process of overseeing the flow of goods and materials in and out of a business.
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Pharmaceutical Companies: Firms engaged in the production and distribution of medicinal products.
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Chapter One: Introduction
