Open AccessApplication of Technology in Mitigating Refined Petroleum Shortages in the Nigerian Downstream Petroleum Supply Industry
Author(s) -
Itsekor Lucky
Publication year - 2019
Publication title -
international journal of business and applied social science
Language(s) - English
Resource type - Journals
ISSN - 2469-6501
DOI - 10.33642/ijbass.v5n2p1
Subject(s) - supply chain , business , petroleum , petroleum industry , scarcity , downstream (manufacturing) , supply chain management , resource (disambiguation) , product (mathematics) , industrial organization , marketing , economics , engineering , computer science , paleontology , computer network , geometry , mathematics , environmental engineering , biology , microeconomics
Nigeria operates a petroleum-based economy but suffers refined product shortages. The continual shortages or scarcity of refined petroleum products cripples business activities, which undermines the development of the Nigerian economy. The purpose of this multiple case study was to identify the strategic role of technology application in mitigating petroleum shortages in the petroleum supply chain and to sustain business development in Nigeria. The research participants include ten senior leaders from two private-sector Nigerian downstream petroleum supply companies located in the Niger Delta region, who had successfully implemented strategies for petroleum supply. The conceptual framework for the research was the resource based view theory. Data collection was through semi structured face-to-face interviews and review of company’s operational and policy documents. Data validation was through member checking and triangulation, after transcription and analysis. The findings indicate that the oil and gas industry is technologically driven, and for efficiency and effectiveness of supply, petroleum leaders should apply required technology in all segment of the supply chain; (operations) vessel or marine, discharge operations, tank farm operations, logistics, and retail outlets, (no operations) administration, sales, safety, IT, finance, and marketing. Findings may be used by petroleum business leaders and investors to create effective and efficient technological resource management strategies in the supply chain, leading to product availability, sustainability, poverty reduction, and economic development.