Role of Sourcing in the Achievement of the Profit Objective of Organization (A Case Study of Nigeria Bottling Company Plc)
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Role of
Sourcing in the Achievement of the Profit Objective of Organization
(A
Case Study of Nigeria Bottling Company Plc)
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 Enugu.
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.
TABLE
OF CONTENTS
Title
page i
Approval
Page ii
Declaration
iii
Dedication iv
Acknowledgement v
Abstract vi
CHAPTER
ONE: Introduction
1.1
Background of the Study 1
1.2
Statement of the Problem 2
1.3
Objectives of the Study 2
1.4
Significance of the Study 3
1.5
Scope of the Study 4
1.6
Research Questions 4
1.7
Definition of Terms 4
CHAPTER
TWO: Literature Review
2.1 Sourcing Concept 6
2.2 Sources of Suppliers Information 8
2.3 Sourcing Policies 10
2.4 Criteria for Source Selection 15
2.5 Supplier Evaluation 17
2.6 Managing Buyer and Supplier Relationship. 20
CHAPTER
THREE: Research Methodology
3.1 Area of Study 23
3.2 Research Design 23
3.3 Population of the Study 24
3.4 Sample, and Sampling Techniques 24
3.5 Instrument for data Collection 24
3.6 Administration of Instruments 24
3.7 Techniques for Analyzing Data 25
CHAPTER FOUR: Presentation
and Analysis of Data
4.1 Presentation of Result 29
CHAPTER
FIVE: Summary, Discussion, Conclusion and Recommendation
5.1 Summary of Procedure 30
5.2 Discussion of Findings 31
5.3 Implication of the Findings 32
5.4 Conclusion 33
5.5 Recommendations 34
5.6 Suggestion for Further Studies 34
Bibliography
Appendix
CHAPTER I: Introduction
1.1
Background
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 Enugu 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 Enugu, 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 Enugu
polytechnic.
1.5 Scope of the Study
The
study will be restricted to Nigeria bottling company Enugu 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.
Dual or Multiple Sourcing:
is a situation where the buyer shares the
order among two or more supplier especially where the order is large.
Categorical Plan: the
method relies heavily on the experiences and ability of the buyer and the
personnel of other departments.
International Sourcing: it means buying beyond national boarders of
the buyer or importers country.
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