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ROLE OF
SOURCING IN THE ACHIEVEMENT OF THE PROFIT OBJECTIVE OF ORGANIZATION
ABSTRACT
This project
work is centered on role of souring in the achievement of profit objective of
organization with a case study of Nigeria bottling company plc Kaduna. It
begins with the first chapter which dealt with the background of the study,
given a brief introduction about the subject matter under study. Statement of
problem which is the reason why the research undertook the study to identify
such problems and come up with recommendation which will be beneficial to the
organization and the entire society. Research question is drawn up which is in
line with the objective of the research work to be opened up to get variables
for questionnaires to be administered. Chapter two deals with the review of
previous work carried by other authors on a similar topic. Chapter three deals
with the research methodology with research design. The study have a sample
size of 25 which is 12% of the population of 200 drawn from the material
related unit and the sample size selected randomly and questionnaire were
administered to them for their response. The findings of the study shows that
profit maximization can only be achieved where organizational is able to meet
their customers demand satisfactory. Thus, it was concluded that sourcing in
Nigeria bottling company plc is treated with very importance. Therefore
recommendation was made that give appropriate attention to sourcing activities
in the organization. This will ensure that the supplier provide standard
material to the organization through adequate sourcing.
CHAPTER
I: Introduction
1.1Background
of the Study
The most
important thing in the hierarchy of all organizations objectives is profit
maximization, and this can only be achieved where organization is able, to meet
their customers demand satisfactorily as at when due and for this objective to
be met there must be a right source of supply that is, if the correct source
decision is made in a particular instance, then the buying company’s need would
be met perfectly. In such circumstances it would received the required goods or
services at all times. Sourcing thus involves much more than simply picking a
supplier or contractor for each requirement in isolation. It involves
continuing relationships, both with preferred sources which are actually
supplying goods and services, and with potential sources which may have been
passed over for the present but are still in the running. It involves decisions
about how to do business on. For its proper performance sourcing requires
supply market research. This is a normal part of procurement and supply work,
undertaken informally by buyers when they talk to representatives, visit
exhibitions read trade journals and investigate the market before placing orders. In addition, it is the primary responsibility
of purchasing to find out suitable sources of supply and ensure that the right
quality and quantity of material is obtained at the right prices, and also
spending time and effort in investigating and evaluating prospective supplies
and continuously appraising the performance of current suppliers. In such a
manner that there will be regular inflow of materials supply to avoid stoppage
in production and its attendant costs and for the organization to be able to
maximize its customer requirement in order to achieve its profit objective.
1.2 Statement of the Problem
Apparently
in many organizations, it is clear to observed the effect of poor sourcing
procedure in the award of contracts to the supplier who are not financially and
technical capable of meeting the demand or the need of organization. This is
often base on irrational decisions of many purchaser, as such the organization
always suffer set backs in achieving their profit objective.
Most other
problems associated with sourcing ranges from high price of materials, late
deliveries, supply of substandard products, mostly traced to inappropriate
sourcing decisions.
1.3 Objective of the Study
The
objective of this study is to assess role of sourcing in the achievement of the
profit objective of organization of Nigeria bottling company Kaduna plant.
Specifically
the study is set out to
1. To identify the sourcing
policy employed by the organization in the procurement of materials need.
2. To identify criteria for
source selection.
3. To identify the criteria used
by the organization in rating their suppliers
4. To identify the type of buyer
and suppliers relationship.
1.4 Significance of the Study
The research
study focuses on role of sourcing in the achievement of the profit objective of
organization of Nigeria bottling company
PLC Kaduna, therefore the research study
will be of benefit to the organization, the executives, the students and other
researcher in this field also the research study will be of benefit to the entire Popolance
To the
organizations the study will explain in detail what sourcing is all about, it
important and benefit they stand to derive if, they give sourcing the necessary
any attention required, and also why should be proactively a proactively in the
organization thus the study will broaden their knowledge of understanding
sourcing.
To the
executives the research work will bring to their lime light the various
sourcing methods available which they can use when sourcing for supplier in
their organization, also the type of relationship needed to be used to foster
good relationship with their supplier in order to guarantee timely delivery of
material at the right time, price and at the right place.
To the
student the study will serve as a study materials and a reference book as well
thereby adding valve to the knowledge and to the researcher in this field the
study can be use as a guide and a stepping stone for further research.
To the
student the research study will help to broaden perspective in what sourcing is
all about, is also a requirement for partial fulfillment for the award of
higher national diploma in purchasing and supply department Kaduna polytechnic.
1.5 Scope of the Study
The study
will be restricted to Nigeria bottling company Kaduna plant. The study will
address the sourcing policies and procedures of the organization being studied.
The work will also look at the nature of relationship existing between the
organization and its suppliers as well as supplier rating or evaluation.
1.6 Research Questions
This study
will attempt to provide answer to the research questions below.
1. What are the sourcing
policies employed by the organization for the procurement of their materials?
2. What are the criteria used
for source selection?
3. What are the criteria used by
the organization for rating their supplier?
4. What type of relationship
exist between the buying organization and their suppliers?
1.7 Definition of Terms
Sourcing: as
the process of identifying, selecting and developing suppliers is a key
purchasing activity.
Out
Sourcing: May be defined as a management strategy by which major non-core
functions are transferred to specialist efficient, external providers.
Partnering:
is generic and refer to arrange of collaborative relationships.
Intra-Company
Trading: applies to large enterprises and conglomerates where the possibility
arises of buying certain materials from a member of the group.
Subcontracting:
involves the total restructuring of an enterprises around core competences and
outside relationship.
Tactical and
Operational Sourcing: is concerned with low risk, non, critical items.
Reciprocity:
often referred to as selling through the order book is a policy of giving
preference to suppliers that are also customers of the buying organization.
Single
Sourcing: describes a situation where the buyers places all order with one
single supplier.
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