Sustainable Supply Chain Management Practices and Financial Sustainability of Listed Consumer Goods Firm in Nigeria
Anisulowo, Temitope A. *
Department of Accounting, Adeleke University, Ede, Osun State, Nigeria.
Sofayo, Abiola A.
Department of Business Administration, Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Nigeria.
Anthony, Boluwatife O.
Hertfordshire Business School, HatfieId, United Kingdom.
Sanni, Christian O.
Department of Accounting, Adeleke University, Ede, Osun State, Nigeria.
Onasanya, Olalekan S.
Department of Educational Evaluation, Universityof Ibadan, Ibadan, Nigeria.
Adeleke, Adebisi M.
Department of Accounting, Adeleke University, Ede, Osun State, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
Purpose: The significance of sustainable supply chain management practice to the financial sustainability necessitated this study which aimed to evaluate the effects of sustainable supply chain management practices on financial sustainability of listed consumer goods firms in Nigeria. In the course of the study, the primary objectives of the study were to determine the effect of supplier relationship management on the financial sustainability of listed consumer goods firms in Nigeria and to evaluate the effect of lean supply chain practices on the financial sustainability of listed consumer goods firms in Nigeria.
Methodology: The population of this study comprised of all the twenty-one (21) listed consumer goods firms under Nigerian Exchange Group (NGX). The sample for this study comprised of forty (40) respondents selected from each of the three chosen consumer goods companies, totaling One hundred and twenty (120) respondents. The study adopted both purposive and stratified random sampling techniques. Primary data was collected through electronic questionnaires distributed via Google Forms. Descriptive statistical tools, including measures of central tendency such as mean, and measures of variability such as standard deviation, was employed for data analysis.
Findings: The result of the analysis reveal that: (i) with the result of hypothesis one; the results revealed that F-statistics stands at 3.478 with a p-value < than 0.05 at 0.033. This implies that the positive effect of supplier relationship management on financial sustainability of listed consumer gods firms is significant. (ii) For hypotheses two, the results revealed that F-statistics stands at 3.133 with a p-value < than 0.05 at 0.04. This implies that the positive effect of lean supply chain practices on financial sustainability of listed consumer gods firms is significant.
Originality/ Value: No research was found regarding the sustainable supply chain management practices and financial sustainability during the time period of 2024.
Conclusion and Recommendations: The study concluded that sustainable supply chain management practices enhance financial sustainability of consumer goods firms in Nigeria. The study recommended that firms should prioritize building strong relationships with suppliers, integrate sustainability considerations into their operations, implement lean supply chain practices, strengthen internal controls to mitigate fraud risk, invest in employee training, foster collaboration and knowledge sharing, and regularly monitor and evaluate performance.
Keywords: Supplier relationship management, lean supply chain practices, financial sustainability