Effects of Resilience Building on Performance of Pharmaceutical Firms in Kenya
The purpose of the study was to evaluate the effects of resilience building on performance of pharmaceutical firms in Kenya. The research adopted a descriptive research design. The target population included 171 (22 local pharmaceutical manufacturing and 149 importing firms). The study adopted a census sampling technique. The data was analyzed using SPSS 22 version. The study made use of multiple regressions analysis which helped to generate a weighted estimation equation (OLS) that was used to predict values for dependent variable from the values of the independent variable. The regression results revealed that resilience building had a positive and significant relationship with the performance of pharmaceutical firms. It was found that resilience building is satisfactory in explaining the performance of pharmaceutical firms which was supported by a coefficient of determination also known as the R2 of 57.5%. The null hypothesis was rejected which indicated there is no significant relationship between resilience building and performance of pharmaceutical firms in Kenya. Thus, there is a significant relationship between resilience building and performance of pharmaceutical firms in Kenya. The study recommended that pharmaceutical firms should develop and implement the resilience building practices to increase reliability, visibility, adaptability and build reputable brands. Among the practices which are of great significance are those to do with timely and effective response on new customer customers preferences, stable and assured supply, innovativeness to new preferences and preparedness to deal with supply disruptions. The study also recommended that management in pharmaceutical firms should implement the aforementioned practices since they lead to an improved firm performance in terms of sales, customer service and efficiency
Keywords: Resilience building, performance, pharmaceutical firms, Kenya
Fayezi, S., & Zomorrodi, M. (2015). The role of relationship integration in supply chain agility and flexibility development: An Australian perspective. Journal of Manufacturing Technology Management, 26(8), 1126-1157. https://doi.org/10.1108/JMTM-11-2014-0123
Green Jr, K. W., Whitten, D., & Inman, R. A. (2012). Aligning marketing strategies throughout the supply chain to enhance performance. Industrial Marketing Management, 41(6), 1008-1018. https://doi.org/10.1016/j.indmarman.2012.02.003
Hammervoll, T., Jensen, L. M., & Beske, P. (2017). Dynamic capabilities and sustainable supply chain management. International journal of physical distribution & logistics management.
Khanna, I. (2012). Drug discovery in pharmaceutical industry: productivity challenges and trends. Drug discovery today, 17(19-20), 1088-1102. https://doi.org/10.1016/j.drudis.2012.05.007
Lee, S. M., & Rha, J. S. (2016). Ambidextrous supply chain as a dynamic capability: building a resilient supply chain. Management Decision, 54(1), 2-23. https://doi.org/10.1108/MD-12-2014-0674
Mehralian, G., A. Nazari, J., Akhavan, P., & Reza Rasekh, H. (2014). Exploring the relationship between the knowledge creation process and intellectual capital in the pharmaceutical industry. The Learning Organization, 21(4), 258-273. https://doi.org/10.1108/TLO-07-2013-0032
Nyang’au, F. O. (2017). Influence of Supply Chain Risk Management Strategies on Performance of Food and Beverage Manufacturing Firms in Kenya (Doctoral Dissertation, Jkuat Cohred).
Ochieng, A. O. (2018). Supply Chain Resilience and Organizational Performance of Pharmaceutical Manufacturing Companies in Nairobi (Doctoral dissertation, university of Nairobi).
Paul Gray and JongbokByun(2012), Customer Relationship management Center For Research on Information Technology And Organizations, University Of California, Irvine 3200 Berkeley Place Irvine, Ca, 92697-4650. Retrieved from http://www.Crito.Uci.Edu
Pettit, T. J., Croxton, K. L., & Fiksel, J. (2013). Ensuring supply chain resilience: development and implementation of an assessment tool. Journal of business logistics, 34(1), 46-76. https://doi.org/10.1111/jbl.12009
Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic management journal, 18(7), 509-533. https://doi.org/10.1002/(SICI)1097-0266(199708)18:7%3C509::AID-SMJ882%3E3.0.CO;2-Z
Tejpal, G., Garg, R. K., & Sachdeva, A. (2013). Trust among supply chain partners: a review. Measuring Business Excellence, 17(1), 51-71.
Tsanos, C., G. Zografos, K., & Harrison, A. (2014). Developing a conceptual model for examining the supply chain relationships between behavioural antecedents of collaboration, integration and performance. The International Journal of Logistics Management, 25(3), 418-462. https://doi.org/10.1108/IJLM-02-2012-0005
Waqar Ahmed, Arsalan Najmi, Yusra Mustafa, Asif Khan, (2019) "Developing model to analyze factors affecting firms’ agility and competitive capability: A case of a volatile market", Journal of Modelling in Management, 14(2)476-49. https://doi.org/10.1108/JM2-07-2018-0092
Wieland, A., & Wallenburg, C. M. (2013). The influence of relational competencies on supply chain resilience: a relational view. International Journal of Physical Distribution & Logistics Management. https://doi.org/10.1108/IJPDLM-08-2012-0243