THE IMPACT OF REPORTING SYSTEMS ON THE OPERATION OF THIRD-PARTY LOGISTICS COMPANIES.

Abstract

This study aims to investigate the impact of reporting systems on the operations of third-party logistics companies. Data for the study was collected from both primary and secondary sources, using a questionnaire as the data collection instrument. The study population consists of 35 maritime Third Party Logistics companies. We distributed 300 questionnaires and successfully retrieved 273 correctly filled ones. We analyzed the empirical data using Spearman Correlation statistics, which yielded a correlation value of 0.993. This indicates a strong positive relationship between the absence of reliable reporting mechanisms and the performance of third-party logistics in the study area. The calculated P-value is 0.000, which is less than the critical P-value of 0.01. According to our decision rule, since the P-value is less than the critical P-value of 0.01, there is a statistically significant relationship between reporting systems and the operations of third-party logistics. Therefore, we reject the null hypothesis (H0), which suggests there is no statistically significant relationship. The results of this study explicitly highlight the operational challenges of reporting systems faced by third-party logistics companies in the maritime industry. Our findings from data gathering, evaluation, and analysis indicate that timely reporting systems significantly affect the operations of third-party logistics in Nigeria. Therefore, we conclude that an effective reporting process is essential for the efficient and effective operations of third-party logistics firms in Nigeria. Based on our findings, we recommend that third-party logistics companies should ensure their reporting systems are efficient, provide detailed information, are easily understood, and adhere to time-bound principles. Additionally, they should invest in state-of-the-art equipment for reporting in their business operations to avoid operational failures.