THE INFLUENCE OF PROCUREMENT POLICIES ON SUPPLY CHAIN PERFORMANCE
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Abstract: THE INFLUENCE OF PROCUREMENT POLICIES ON SUPPLY CHAIN PERFORMANCE
This research examines the influence of procurement policies on supply chain performance. Objectives include identifying effective procurement policies, assessing their impact on supply chain efficiency, and evaluating their contribution to cost reduction. A survey design is chosen for its ability to collect comprehensive data from supply chain professionals. The sample size of 350 respondents, determined using Taro Yamane's formula, ensures statistical significance. The study focuses on the manufacturing sector in Lagos, known for its complex supply chains. The reliability coefficient score for the survey is 0.87, indicating high reliability. Findings reveal that well-structured procurement policies significantly enhance supply chain performance by improving efficiency and reducing costs. The study recommends that businesses should develop dynamic procurement strategies to optimize their supply chain operations.
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