Contribution Of Purchasing Research To Business Organisation
(A Case Study Of Nigeria Breweries Plc Aba)
Purchasing research plays a pivotal role in enhancing the operational efficiency and strategic decision-making of business organizations. By delving into procurement practices, supplier relationships, market trends, and cost optimization strategies, purchasing research provides invaluable insights that empower organizations to streamline their procurement processes, mitigate risks, and drive sustainable competitive advantage. Through meticulous analysis of purchasing data and market dynamics, businesses can identify cost-saving opportunities, negotiate favorable contracts, and cultivate strategic partnerships with suppliers. Additionally, purchasing research enables organizations to stay abreast of emerging technologies, regulatory changes, and industry best practices, thereby fostering innovation and adaptability within their supply chain operations. Ultimately, by leveraging the findings of purchasing research, businesses can optimize their procurement strategies, enhance supply chain resilience, and achieve long-term success in today’s dynamic and competitive marketplace.
This is a research study on the contribution of purchasing research to the business organization. this research project is written to analysis critically the strategies involved in the contribution of purchasing research how it will profit the organization and the basic need to adopt the purchasing research for the profitability of an organization. it will help to gather useful information about the product which is to be purchased and to ensure the quality and the quantity and at a good price. It is also intended to make useful suggestions and recommendation that will help in purchasing materials for the organization.
The language used is simple enough to be understood by the headers. This research project has been collected personally by full observation and study. Chapter one of the project is focus on the background of the study, brief history of the company, statement of the problems, objective of the study, significant of the study, scope of the study, limitation of the study.
Chapter two deals on research review the related literature. Chapter three is based on the presentation of data analysis. chapter four centers on testing of hypothesis, while chapter five is all about the summary, conclusion and recommendation also with bibliography.
TITLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOLWEDGEMENT
ABSTRACT
TABLE OF CONTENT
CHAPTER ONE
1.0 Introduction
1.1 Overview/Background of study
1.2 Statement of problem
1.3 Objectives of the study
1.4 Significance of the study
1.5 Research questions
1.6 Research hypothesis
1.7 Scope of the study
1.8 Limitation of the study
1.9 Definition of terms
CHAPTER TWO
2.0 Literature review
2.1 Introduction
2.2 Research as a veritable tool for problem solving
2.2.1 The research process
2.3 General overview of the purchasing function
2.3.1 Purchasing and purchasing research
2.4 Why purchasing research is becoming important
2.5 Importance of purchasing research
2.6 Organization of purchasing research
2.7 Area of purchasing research
2.7.1 On purchasing product or services
2.7.2 Purchasing research on purchasing personnel staff policies and procedure
2.7.3 On suppliers
2.7.4 On commodities
2.7.5 On methods of purchasing procedure purchasing system
2.7.6 On methods of procurement
2.8 Relationship between purchasing research and company’s profitability
2.9 The contribution of purchasing research in the profitability on an organization
2.10 Summary of related literature
CHAPTER THREE
3.0 Research methodology
3.1 Introduction
3.1.1 Research design
3.2 Questionnaire design
3.3 Population of sample size determination
3.4 Source of data: Primary and Secondary data
3.5 Method of data collection and distribution
3.5.1 Sampling techniques/procedures
3.5.2 Validity and reliability of measuring instrument
3.6 Method of data analysis
CHAPTER FOUR
4.0 Presentation of analysis of data
4.1 Introduction
4.2 Presentation of data
4.3 Text of hypothesis Analysis of data
4.4 Discussion of findings
CHAPTER FIVE
5.0 Summary, conclusion and recommendation
5.1 Summary
5.2 Conclusion
5.3 Recommendation
Bibliography
Appendix
INTRODUCTION
1.1 OVER VIEW/BACKGROUND OF THE STUDY
The recognition of the contribution of purchasing research in the industrial and technological development in Nigeria has principal accounted for significant economic development in Nigeria. The contribution of purchasing research is important because Nigeria is striving toward industrialization. Purchasing research part of marketing and the main pilot of commercialization plays a vital role for its success by introducing various findings to effective marketing strategies. This brings to focus on the contribution of purchasing research to business organization purchasing research makes available information. A vital tool for decision making which is a function of management. The acquisition of information for decision making is achieved through searching, collection and analysis of data obtained. It involves going through old records as well new ones to making comparisons, and selections based on the finding purchasing research is a discipline approach to problems and prospects of ensuring efficiency, and profitability in marketing of goods and services. Purchasing research enables us to see the basic contribution this study will make towards effective and efficient method of harnessing our resources. This will make way for a speedy economic development of Nigeria. The purpose of this project is to show clearly the contribution of purchasing research in business organization.
1.2 STATEMENT OF THE PROBLEMS
Naturally, every business exists to achieve predetermine co-operate objectives. The objectives are normally design to protect the interest of the owners of the business. Therefore, Nigeria breweries plc as the business organisaiton lives to achieve the common interest on the owners. To actualize the goal, the management should be effective and efficient over time, in managing the scare resources of the organization. In as much as management recognize the interest of the owners of the business environment under which the business operates recognizing its social responsibilities to the rural dwellers. Many business springs up and suddenly folds as a result of various problems with out reading their target objectives. Adequate manpower resources misplacement of priority and mismanagement. These problems have given rise to series of development plan. However, purchasing research is the determination of investigation into the unknown complete market situation, with a view to determining and bringing out facts that can assist in failure planning and decision making processes. It is an investigation into the needs of the people or consumers with respect to goals and services so as to enable the organization attain the noble ideas of the marketing concept. Actually, all business activities is conduct under condition of risks and uncertainly. The success or failure of any business depends on many factors economic force cutting competitive tendencies etc marketing decision are basically decisions about the future. The future is not easily known and that is why Nigeria breweries should be able to slid analysis and interprets available information towards solving any problems that may comments way these problems also enable us to extend in determining, whether Nigeria breweries plc create job opportunities to the people of the areas.
1.3 OBJECTIVE OF THE STUDY
Based on the negative attitude towards the application of the usefulness of purchasing research in the developing economics, the researchers aim in this paper is to show how useful and helpful the contribution of purchasing research could serve as a catalyst of change for better economic development to business organization with particular reference to the Nigeria economy.
The following are specific objective of this research work;
1. To determine the contribution of purchasing research in business organization especially in Nigeria breweries plc in Abia State
2. To find out how Nigeria breweries plc has been able to create job opportunities to the people of the area
3. To identify the major problems that affects the operation of the organization
4. To suggest how the company should improve its operation in future
1.5 RESEARCH QUESTIONS
1. Is purchasing research important and useful for the success of an organization
2. Can purchasing research help an organization to over come some of its problems in a distress economy?
1.6 RESEARCH HYPOTHESIS
The traditional model science uses the deductive and inductive logic 9the two logical systems). We shall try to explain the meanings of deduction and before revisiting the deductive and inductive logic.
Deductive refers to the logical model in which specific expressions of hypothesis are developed on the basis of general principles
1.7 SCOPE OF STUDY
The geographical coverage of this study is limited to Abia State, out of the numerous communities that make up Aba local government area, four communities were chosen for this study. The essence of this study is to ensure greater efficiency and cost effectiveness of the research.
1.8 LIMITATION OF STUDY
It is important to critically evaluate the results and the whole study. The present study has certain limitations that need to be taken into account when considering the study and its contributions. The quality of the research has been discussed in the end of chapter four. However, some of those limitations can be seen as fruitful acenves for future research under the same theme. Another limitation of study is the perspective adopted. Instead of trying to understand the market process in general this study has been first and foremost limited to the buyer organization perspective, although the study has also taken into account other views along the theoretical, analysis, the main perspective from which conclusions are drawn is that of the buyer. This can thus also be seen as a limiting factor in this study.
1.9 DEFINITION OF TERMS
The following terms used in this study should be taken to mean the following
Marketing: Marketing is a set of human activity directed at satisfying needs and wants through exchange process.
Purchasing: This is defined as a systematic, gathering recording and analyzing of data about problems relating to the marketing, of goods and services.
Analysis Means to get meaning out of the data
Systematic: It is a step by step method of finding solution to a problem.
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Contribution Of Purchasing Research To Business Organisation:
Purchasing research, often referred to as procurement research or supply chain research, plays a vital role in the success and efficiency of a business organization. Here are some key contributions of purchasing research to business organizations:
Cost Reduction: Purchasing research helps organizations identify cost-saving opportunities. By analyzing suppliers, market trends, and negotiation strategies, businesses can find ways to lower procurement costs, negotiate better terms, and reduce overall expenditures.
Supplier Evaluation and Selection: Research allows businesses to thoroughly evaluate potential suppliers, assessing factors such as reliability, quality, price, and sustainability. This helps in making informed decisions when selecting suppliers that align with the organization’s goals and values.
Risk Management: Purchasing research helps identify and mitigate risks within the supply chain. By understanding potential disruptions, vulnerabilities, and geopolitical factors affecting suppliers, organizations can develop risk mitigation strategies to ensure continuity of operations.
Supply Chain Optimization: Research provides insights into supply chain dynamics, allowing organizations to optimize their processes for better efficiency and responsiveness. This includes inventory management, demand forecasting, and logistics optimization.
Product Innovation and Development: By staying updated on market trends and supplier capabilities, purchasing research can contribute to product innovation. It helps organizations identify new materials, technologies, and components that can enhance their products or services.
Compliance and Sustainability: Research helps organizations ensure compliance with regulations and standards, especially in industries with stringent requirements like healthcare or aerospace. It also supports sustainability initiatives by identifying environmentally friendly suppliers and materials.
Negotiation and Contract Management: Research provides valuable data for negotiations with suppliers. It helps organizations secure favorable terms, such as pricing, delivery schedules, and payment terms, and ensures that contracts are effectively managed throughout their lifecycle.
Supplier Relationship Management (SRM): Purchasing research helps build and maintain strong supplier relationships. By understanding the capabilities and limitations of suppliers, organizations can foster collaboration, innovation, and long-term partnerships.
Competitive Advantage: Effective purchasing research can give a business a competitive edge. It helps in identifying unique sourcing opportunities, cost advantages, and differentiation strategies that can set a company apart from its competitors.
Data-Driven Decision Making: In an era of big data and analytics, purchasing research provides valuable data and insights that support data-driven decision-making processes within an organization. It enables more informed, strategic choices.
International Expansion: For businesses expanding globally, purchasing research is essential in understanding international markets, regulations, and cultural nuances. It helps in identifying reliable global suppliers and managing cross-border logistics efficiently.
In summary, purchasing research is an integral part of a business organization’s strategic planning and operations. It contributes to cost reduction, risk management, supply chain optimization, innovation, compliance, and competitive advantage, ultimately helping businesses achieve their goals and maintain a competitive position in the market.