CRITICAL SUCCESS FACTORS IN SUPPLY CHAIN MANAGEMENT IN THE BANKING SECTOR IN GHANA

This paper identifies the critical success factors in supply chain management in the banking sector in Ghana. A quantitative research approach was used. The population of the study was employees in selected commercial banks in Ghana. The simple random sampling procedure was used to select 144 respondents. The Exploratory Factor Analysis retains six (6) success factors of supply chain management. Out of the 6 factors, “motivation” contributes the highest amount of variation of 43.2%. The second highest amount of variation (22.8%) is contributed by “competency” of supply chain management staff. “Planning” accounts for the third highest variation of 12.6%., with “management commitment” accounting for 7.3% of the total variation. “Communication” effectiveness and “benchmarking” respectively account for 5.7% and 5.1% of the total variation. The six factors account for a total of 96.7% of the variation. The total variation accounted is high, and this implies that the 6 factors strongly relate to supply chain management success. So, each of the factors must be effectively carried out in supply chain management to reach expected success.