Vendor Relationship Management and Business Performance Quoted Deposit Money Banks in Port Harcourt, Rivers State.
Vol 3 Issue 2
The purpose of this study was to examine the relationship between vendor relationship management and business performance of independent petroleum marketers in Rivers State. The study adopted the cross-sectional survey research design. The population of this study consists of the four hundred and fifty (450) independent petroleum marketers in Rivers State. This research design enabled the researcher to collect unbiased data from the study targets and describe the relationship between the variables. The sample size of this study was drawn from the four hundred and fifty (450) independent petroleum marketers in Rivers State. The sample size of this study was determined using the Yamane (1967) formula. This method was adopted to generate an appropriate sample size for the study from which generalization can be made on the entire population because the population is large. Thus, two hundred and twelve (212) independent marketers or their managers constituted the respondents of the study. The respondents include directors, station managers, station supervisors and depot representatives. This study made used of both descriptive and inferential statistics to analyze the data. Thus, bivariate inferential statistics of Pearson Product Moment Correlation (PPMC) was used to test the hypotheses stated in the study. More so, multivariate inferential statistics of Partial Correlation was adopted to determine the moderating influence of competition on the relationship between vendor relationship management and business performance. These analyses were done with the help of the Statistical Package for Social Sciences (SPSS Version 22.0). The study revealed that there is a strong, positive, and significant relationship between the dimensions of vendor relationship management and the measures of business performance. There is also a very strong, positive and statistically significant moderating effect of competition on the relationship between vendor relationship management and business performance. We therefore, concluded that significant relationship exists between vendor relationship management and business performance of independent petroleum marketers. As a result, the study recommends that Independent petroleum marketers in Rivers State should properly identify and choose among the plethora of vendors those that have the capacity to deliver the quality of products at the right time, right place and at the right price.
