Impact of Information Technology on Inventory Control in Oil & Gas Sectors

Impact of Information Technology on Inventory Control in Oil & Gas Sectors

Abstract

This research looks at the effect of information and communication technology (ICT) on the performance of the oil and gas sector, using a case study of Kaduna Refining and Petrochemical Company (KRPC). The study's goals were as follows: to identify the use of information and communication technology (ICT) facilities in KRPC and evaluate employee disposition and satisfaction as a result of its use; and to investigate the effect of ICT on KRPC operations performance. 

To evaluate its main and secondary data, this study employs both qualitative and quantitative research design methods, including a field survey and content-based statistical analysis. The technological diffusion and growth model hypothesis drove the research. The use of these theories as a theoretical framework was intended to improve understanding of the acceptance and gains of new ideas.

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Introduction

The use of internet and e-commerce technologies, as well as ICT, is being used to raise awareness and find the best method to refine oil products electronically. Oil businesses, in particular, use ICTs to enhance the efficiency and effectiveness of their operations, as well as to help management make decisions. This contributes to their ability to maintain competitive positions in constantly changing settings. Customers are at the centre of a highly competitive business environment created by environmental, organisational, and technical variables. 

Furthermore, these variables may shift rapidly. Thus, every company's development is linked to delivering loyal customer service, boosting productivity, lowering costs, growing market share, and providing prompt organisational response.

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Conclusion

We experimentally evaluated and examined the effect of information and communications technology on the performance of the oil and gas sector in this study effort. The study's goal was to assess KRPC's use of information and communication technology (ICT) facilities and their effect on its operational performance. 

In general, it has been noted that ICT has an effect on the operational performance level of KRPC because it contributes to operational efficiency, increased productivity, and the decision-making process of KRPC, but it has not improved the performance level of the oil and gas sector.

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