ASSESSMENT ON THE IMPORTANCE OF PURCHASING PROCEDURES IN AN ORGANIZATION
- Project Research
- 1-5 Chapters
- Quantitative
- Mean and Standard Deviation
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
ABSTRACT
The study aimed at assessing the importance of purchasing procedures in an organization using Nigeria bottling company Aba as case study. Five significant research objectives were formulated to guild the study. The study adopted the survey research design. In determining the population of the study, the researcher selected to the entire staff of the organization. The convenient sampling method was adopted in determining the sample size. Hence, the researcher conveniently selected 70 staffs as sample size. A total of 70 questionnaires were administered to the respondents, while only 50 were validated. Data gather were analyzed using simple percentages and mean scores, while the hypotheses were tested using Chi-square statistical tool, SPSS v23. The result of the findings shows that purchasing procedures has contributed to be company’s overall profitability, and the impact purchasing procedures have been playing in the industries include; positioning the company better to meet customers' needs and aspirations, improves or protects cash flow, lowers cost of acquisition, and reduces risk and ensure the security of suppliers. Based on the findings, it was recommended that the purchasing department adopts the use of quantitative statistical analysis method, also the management should give more focus to the authenticity and accuracy of purchasing procedures since it is a strategic procurement tool that helps to improve profitability.
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