The effect of supplier diversification on business continuity: A case study of Olam Nigeria in Kaduna State
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Background of the Study
Supplier diversification refers to the practice of sourcing goods or services from multiple suppliers rather than relying on a single supplier. This strategy is often employed to mitigate risks such as supply chain disruptions, price volatility, and dependency on a particular supplier. Supplier diversification plays a crucial role in enhancing business continuity, as it helps ensure that a company can continue operations even in the face of unforeseen challenges like natural disasters, economic downturns, or political instability that might impact one or more suppliers.
Olam Nigeria, a leading agribusiness company operating in Nigeria, is involved in the production, processing, and distribution of various agricultural commodities such as rice, wheat, and cocoa. The company faces challenges associated with sourcing raw materials and managing its supply chain in a country marked by infrastructural challenges and periodic disruptions. In light of this, Olam Nigeria has adopted supplier diversification as a strategy to strengthen its business continuity.
This study will explore how supplier diversification has contributed to the business continuity of Olam Nigeria in Kaduna State, focusing on how the company has diversified its supply base to minimize risks and improve operational resilience.
Statement of the Problem
The supply chain of Olam Nigeria, like many other companies in Nigeria, is vulnerable to disruptions caused by a variety of factors, including unreliable transportation infrastructure, fluctuating commodity prices, and geopolitical tensions. While supplier diversification is widely considered an effective strategy to mitigate such risks, there is limited empirical research on how it directly affects business continuity in the Nigerian context. This study will examine how Olam Nigeria’s approach to supplier diversification has enhanced its ability to manage supply chain disruptions and ensure business continuity.
Objectives of the Study
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To assess the impact of supplier diversification on business continuity at Olam Nigeria in Kaduna State.
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To examine the role of supplier diversification in mitigating risks within the supply chain of Olam Nigeria.
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To evaluate the relationship between supplier diversification and operational resilience at Olam Nigeria.
Research Questions
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How does supplier diversification affect business continuity at Olam Nigeria in Kaduna State?
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In what ways does supplier diversification help mitigate supply chain risks for Olam Nigeria?
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What is the relationship between supplier diversification and operational resilience at Olam Nigeria?
Research Hypotheses
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Supplier diversification significantly improves business continuity at Olam Nigeria in Kaduna State.
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Supplier diversification helps mitigate risks related to supply chain disruptions for Olam Nigeria.
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Supplier diversification is positively correlated with improved operational resilience at Olam Nigeria.
Scope and Limitations of the Study
This study will focus on the role of supplier diversification in enhancing business continuity at Olam Nigeria in Kaduna State. Data will be collected through interviews, surveys, and analysis of operational records. The limitations of the study may include challenges in accessing sensitive supply chain data and the complexity of identifying the specific impact of supplier diversification in the broader context of Olam Nigeria’s operations.
Definitions of Terms
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Supplier Diversification: The practice of sourcing goods and services from multiple suppliers to reduce the risk of dependence on a single supplier.
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Business Continuity: The ability of a company to continue its operations and meet its objectives despite disruptions in the supply chain or external environment.
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Operational Resilience: The ability of an organization to adapt to and recover from disruptions while maintaining essential functions.
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