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SUPPLY CHAIN INNOVATION PRACTICES AND CUSTOMER RETENTION STRATEGIES OF PHARMACEUTICAL FIRMS IN SOUTH-EAST NIGERIA
The study examined the effect of supply chain innovation practices on customer retention strategies of pharmaceutical firms in South East, Nigeria. Supply chain innovation practices was decomposed into information sharing, strategic supplier partnership and supply chain integration, while customer retention strategies were quality and delivery speed. The study adopted a cross sectional survey research design. The study focused on ten pharmaceutical companies located in the South-East, Nigeria. Data were collected through a structured questionnaire, designed on a 5-point Likert scale. A total of 169 copies of the questionnaire were distributed, out of which 162 copies were correctly filled out and returned. The hypotheses were tested using partial least square – structural equation modelling at a 5 percent level of significance. The findings indicated that information sharing, strategic supplier partnership and supply chain integration have significant effects on customer retention strategies. Based on the findings, it was recommended that the pharmaceutical firms should prioritize the adoption of advanced information technology systems. Investments in integrated technologies such as enterprise resource planning (ERP), real-time inventory tracking, and customer relationship management (CRM) platforms can facilitate faster information flow, greater visibility, and more agile decision-making across the supply chain.
Keywords: Supply Chain Innovation Practices, Customer Retention Strategies, Information Sharing; Strategic Supplier Partnership; Supply Chain Integration; Delivery Speed; Quality.
