scholarly journals Supply Chain Management: A Game Changer in the Oil and Gas industry in Nigeria: A Review of Literature

2021 ◽  
Vol 5 (3) ◽  
pp. 54-68
Author(s):  
Oluwarotimi Odunayo Akintokunbo ◽  
Biebele Emmanuel Arimie
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Management System ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Chain Management ◽  
Supply Chain Management System ◽  
The Right ◽  
Game Changer

Nigeria has abundant deposit and supply of accessible crude oil and gas resources and it remains the mainstay of her economy. The oil and gas industry in Nigeria is a part of the global oil and gas market which depends on effective and efficient supply-chain management system for the seamless procurement of goods and services (domestic and international), logistics, operations and production management, warehousing, storage of goods from organisations supplier’s suppliers to the customer’s customers with the help of adequate use of modern information and communication technology. The purpose of this study was to examine supply chain management: a game changer in the oil and gas industry in Nigeria. The paper is largely a literature review, hence a desk research methodology was adopted. The paper revealed that the industry offers a classic model for changing the competition game in the sector through a lean, innovative and environmentally sustainable integrated supply chain management system, as today’s competition is no longer between organizations, but among supply chains that compete to reduce their cost of acquisition, production, logistics and warehousing along the chain while delivering customers products and services of quality at the right time, quantity and quality, at the right place and total cost, and creating value throughout the chain.

Blockchain and 6G-Based Supply Chain Management Framework for Oil and Gas Shipment

2021 ◽  
Author(s):  
Md Abdur Rahman ◽  
Syed M. Belal
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Oil And Gas ◽  
Current System ◽  
Oil And Gas Industry ◽  
Chain Process ◽  
Chain Management ◽  
It Systems ◽  
Supply Chain Management System ◽  
Gas Supply

Abstract Keeping track of the oil and gas supply chain is challenging task as the route and transportation requires sophisticated security environment - both physical systems’ and IT systems’ security. Thanks to the recent advancement in IoT, specialized sensors can keep track of the required supply chain environment. With the help of blockchain, the supply chain data can be immutably saved for further sharing with stakeholders. Due to the introduction of AI as an embedded element within 6G networks, the end-to-end supply chain process can now be automated for safety, security, and efficiency purposes. By leveraging 6G, AI, blockchain, and IoT, the supply chain data during the transportation or at rest can be monitored for any changed environment during the movement of the ship through national or international routes. In this paper, we study the requirements of such intelligent and secure supply chain management system conducive to the oil and gas industry. We also show our proof-of-concept implementation and initial test results. Our obtained results show promising prospect of the current system to be deployed to safeguard the oil and gas supply chain.

Application of LEAN Supply Chain Management as a Panacea to Sustainable Future Profitability in the Nigerian Oil and Gas Industry

2021 ◽  
Author(s):  
Obaro Jerry Ugolo
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Online Survey ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Oil Price ◽  
Annual Reports ◽  
Gas Industry ◽  
Chain Management ◽  
Lean Supply Chain

Abstract The Nigeria oil and gas industry is a highly capital intensive market. with possibility of high profit or great losses. Oil price trends over the last 3 decades shows cyclical and relatively high volatility. This is due to geopolitical and economic factors including dollar value, governments and organizations (like OPEC's actions), that influence global supply and demand. In 2020, due to the COVID-19 crises, public health became a key factor influencing oil price (due to its severe adverse impact on demand). Studies have shown that even an increase in production volumes will not be able to bring about profitability in the industry. Clearly, management of costs including a lean supply chain that ensures that material/services for production are available at the right price and time is critical for the profitability of future oil and gas supply. Oil producing firms require an optimum supply level of material and services to competitively deliver its end-product. This paper discusses the effect of LEAN supply chain management on the profitability of oil & gas firms in Nigeria. It also appraises the relationship between lean processes and operational efficiency of oil and gas producing companies. Using quantitative and descriptive research design methods, an online survey has been used to gather information from respondents from different oil and gas companies. Secondary data was also obtained from annual reports of relevant companies to show their crude oil production levels vis-à-vis profitability over a five-year period. Based on analysis of information received from the research conducted, it has been recommended that better supply related collaboration between the organizations in the industry is necessary for sustained profitability. Companies need to link upstream and downstream flows of products, services and information to help reduce costs, wastages and ensure profitability. In, line with this, steps have been proferred to establish lean processes for organization. The researcher concludes that established industry-wide lean supply chain management processes and practices and collaboration e critical to competiveness and sustainable profitability in the oil and gas industry.

ELUSIVE FACTORS INFLUENCING SHARE VALUES: AN EMPIRICAL ASSESSMENT

2011 ◽  
Vol 01 (05) ◽  
pp. 104-111
Author(s):  
OYEDOKUN Akintunde ◽  
Jonathan AWOREMI ◽  
Joshua Remi ◽  
ODEYEMI, Joshua Taiwo
Keyword(s):  
Human Capital ◽  
Supply Chain ◽  
Supply Chain Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Primary Data ◽  
Gas Industry ◽  
Chain Management ◽  
Factors Influencing ◽  
Share Value

The paper examined the elusive factors influencing share value in the Nigeria oil and gas industry with the aim of determining their effect and the extent to which they influenced share value. A simple random technique was used to select three of the six listed oil and gas companies on the Nigeria stock exchange. A stratified random technique was then used to select respondent in the functional department across the selected oil and gas industry. Both secondary and primary data were involved in the study. Stepwise regression analysis was used to capture the relative contribution and effect of the factors on share value. The results exhibit a strong relationship between the oil and gas industry market value and the elusive factors -Innovation, human capital, and supply chain management. Innovation was indentified to be the major driving force adding value to the Nigerian oil and gas industry, followed by human capital development and supply chain management.

scholarly journals Supply Chain Sustainability Practices of Oil Servicing Firms in the Downstream Sector of Nigeria’s Oil and Gas Industry

2019 ◽  
Vol 6 (4) ◽  
pp. 11-14 ◽  
Author(s):  
Abba Adam ◽  
Norhayati Zakuan ◽  
Salisu Alh. Uba Ado A. Bichi. Usman Shettima ◽  
Saif ◽  
Ali M. ◽  
...  
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Survey Data ◽  
Management Practices ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Descriptive Statistics ◽  
Gas Industry ◽  
Chain Management ◽  
Sustainability Practices

This study investigates the nature and context-based peculiarities of sustainability practices related to the supply chain of oil servicing firms operating in the downstream sector of Nigerian oil and gas industry. The supply chain management practices of oil servicing firms are crucial to the functioning of the downstream sector of the oil and gas industry. However, the literature on their supply chain sustainability is scant and scattered. To fully explore this field; therefore, survey data were collected from key practitioners in the industry and analysed using descriptive statistics. The results show that the supply chain management practices of oil servicing companies relating to designing, producing, marketing, delivering, and supporting the products of their clients rarely factor in the requirements of sustainability practices. Accordingly, this study points out strategic interventions that could help in greening the supply chain practices of oil servicing companies operating in the downstream sector of the Nigerian oil and gas industry

scholarly journals CONTRACTOR SELECTION ASSESSMENT STRATEGY IN THE UPSTREAM OIL AND GAS INDUSTRY TOWARDS GREEN SUPPLY CHAIN MANAGEMENT

2020 ◽  
Vol 1 (3) ◽  
pp. 373-383
Author(s):  
Fajar Tri Prasetia ◽  
Tukhas Shilul Imaroh
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Oil And Gas ◽  
Evaluation Criteria ◽  
Quality Criteria ◽  
Oil And Gas Industry ◽  
Green Supply Chain Management ◽  
Green Supply Chain ◽  
Gas Industry ◽  
Chain Management

Nowdays, the level of business competition in managing the upstream oil and gas industry is getting higher, therefore oil and gas companies need to improve their performance and optimize the existing resources in the company. This must also be considered in efforts to manage and save the environment, which is currently the main focus of governments and businesses to preserve the environment. In addition to internal improvements were made, improvements are also needed on the part of contractors/suppliers to support this. In this regard, this study was conducted to develop a strategy for conducting an assessment in the contractors selection/suppliers in the upstream oil and gas industry with the aim of implementing Green Supply Chain Management with the Analytic Hierarchy Process (AHP) method. This study maps the evaluation criteria and sub-criteria in the contractors selection and obtains the main criteria in the contractors selection for the upstream oil and gas industry towards Green Supply Chain Management. Results of the study obtain 6 criteria and 23 evaluation criteria in the contractors selection in the upstream oil and gas industry towards Green Supply Chain Management. The two most important criteria obtained are the Environmental criteria and the Health and Safety criteria, both of which have an assessment weight of more than 50% of the total assessment weight. The next criteria obtained are the Quality (Technical), Technical (Shipping), and Price (Quality) criteria, where these criteria are taken into account in the selection of contractors for the upstream oil and gas industry towards Green Supply Chain Management, so that the spirit of competition remains with the contractor and companies have many options contractor to achieve Green Supply Chain Management.

scholarly journals Supply-Chain Management Issues In The Oil And Gas Industry

2011 ◽  
Vol 5 (6) ◽  
Author(s):  
Christopher M. Chima
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Bottom Line ◽  
Gas Industry ◽  
Chain Management ◽  
Materials Handling ◽  
Supply Chain Logistics ◽  
Management Issues

The oil and gas industry is involved in a global supply-chain that includes domestic and international transportation, ordering  and inventory visibility and control, materials handling, import/export facilitation and information technology. Thus, the industry offers a classic model for implementing supply-chain management techniques. In a supply-chain, a company is linked to its upstream suppliers and downstream distributors as materials, information, and capital flow through the supply-chain.  The purpose of this paper is to investigate the role of supply-chain management in the oil and gas industry. This paper also discusses the application of the Uniform Commercial Code (UCC) to supply-chain management issues. Then, several strategies are examined for improving supply-chains in the oil and gas industry. Finally, two case studies are introduced to show how improving supply-chain logistics in the oil and gas industry can improve efficiency and the bottom line.

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