Inventory Control and Customer Satisfaction of Petroleum Marketing Firms in Rivers State
Vol. 4 Issue 1
The study examined the relationship between inventory control and customer satisfaction of petroleum marketing firms in Rivers state, Nigeria. To proffer solutions to the numerous inventory control and customer satisfaction challenges encountered by the firms and customers in the industry. The study adopted cross-sectional survey framework with a target population size of eleven (11) quoted downstream firms in the petroleum industry in Rivers State registered with the Nigerian Stock Exchange. A sample of 33 respondents was drawn from the staff of the selected firms under our study. A self-administered, structured questionnaire was employed to obtain primary data and data was analyzed. The research hypotheses were tested with the Pearson product moment correlation statistical tool to establish the degree of relationship. The reliability of the research instrument was tested using the Cronbach’s Alpha which revealed that all the scores of the variables satisfied the standard Cronbach’s Alpha threshold of 0.7.With the aid of the statistical package of social sciences software (SPSS) version 22, frequencies were computed to establish the sample characteristics. The study found that; inventory control is positively and significantly related to customer satisfaction. Based on the results of the analysis, the paper concludes that inventory control has a positive and significant relationship with customer satisfaction. The paper therefore, recommends that petroleum marketing firms in Rivers State should aligned their inventory control strategies to accommodate target market needs to enhance customer satisfaction
