Track: Transport and Traffic
The study examined the effect of transport management practices on firms’ performance in Lagos State, Nigeria. Purposive sampling was used to select ten food and beverages companies listed on the Nigerian Stock Exchange while a total of three hundred questionnaires were administered on the sampled respondents. Data obtained were analyzed using factor analysis and multiple regression.
The results of the factor analysis revealed a Kmo value of .546; p = 0.000. The total variance explained by the eight factors retained when rotated using Varimax = 47.071%. Using the factor scores generated, the results of the multiple regression srevealed that transport management practices have a significant effect on the logistics performance, thereby influencing firms’ performance (R2 = 0.626, F-= 34.971, p = 0.000). However, only the coefficients of three factors were significant with p = 0.000. These factors are freight expenses; shipment tracking; vehicle routing and scheduling with standardized coefficients of 0.737; 0.196 and 0.173 respectively.
The findings suggest the need for managers of the sampled firms to develop a dynamic transportation strategy for their supply chains that must be responsive, both as to service and cost demands and also implement the Logistics 4.0 to further drive performance.