Production Constraints in Recession: A Study of Selected Quoted Pharmaceutical Companies in Nigeria (Published)
Pharmaceutical companies in Nigeria are facing several constraints in production as a result of economy recession. The broad objective of this study is to determine the nature of relationship that exists between production constraints and economic recession in selected quoted pharmaceutical companies in Nigeria. Specifically, the study seeks to ascertain the extent to which labour and material constraints affects industrial production. Ex-post facto research design was adopted for the study. Data were sourced from statistical bulletins, while data analysis was done using Pearson Product Moment correlation. The findings revealed that material constraint has a negative relationship with industrial production. Based on the findings, the researchers concluded that there is a significant effect of production constraints in a recessed economy. The researchers however recommended that government should fix the power sector because power is the back bone for industrialization and also government should more regularly enforce quality standards in pharmaceutical companies, so as to maintain standards and to reduce substandard products
Keywords: Pharmaceutical Companies, Production constraints, Recessed Economy
Production Constraints in Recession: A Study of Selected Quoted Pharmaceutical Companies in Nigeria (Published)
Pharmaceutical companies in Nigeria are facing several constraints in production as a result of economy recession. The broad objective of this study is to determine the nature of relationship that exists between production constraints and economic recession in selected quoted pharmaceutical companies in Nigeria. Specifically, the study seeks to ascertain the extent to which labour and material constraints affects industrial production. Ex-post facto research design was adopted for the study. Data were sourced from statistical bulletins, while data analysis was done using Pearson Product Moment correlation. The findings revealed that material constraint has a negative relationship with industrial production. Based on the findings, the researchers concluded that there is a significant effect of production constraints in a recessed economy. The researchers however recommended that government should fix the power sector because power is the back bone for industrialization and also government should more regularly enforce quality standards in pharmaceutical companies, so as to maintain standards and to reduce substandard products.
Keywords: Pharmaceutical Companies, Production constraints, Recessed Economy