An Analysis of the Impact of Sustainable Sourcing on Supply Chain Performance in Fidelity Bank, Taraba State
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Background of the Study
Sustainable sourcing refers to the practice of procuring goods and services in a way that takes into consideration the environmental, social, and economic impacts of production. For organizations like Fidelity Bank, which operates in various regions across Nigeria, including Taraba State, adopting sustainable sourcing practices has become increasingly important. As businesses strive to meet the growing demand for sustainable products and services, incorporating sustainable sourcing into the supply chain can contribute to improved efficiency, reduced environmental impact, and strengthened stakeholder relationships (Adebayo & Ibeh, 2023).
Sustainable sourcing is not limited to the environmental aspect but also involves ethical considerations such as fair labor practices, responsible procurement from local suppliers, and efforts to reduce waste and energy consumption. For financial institutions like Fidelity Bank, which depend heavily on the smooth functioning of their supply chains for operational support, the integration of sustainable sourcing practices can enhance supply chain performance. Fidelity Bank, particularly in Taraba State, faces challenges such as infrastructure deficits and the need to manage supplier relationships across multiple regions. Therefore, understanding the impact of sustainable sourcing on supply chain performance is crucial for ensuring the long-term viability and operational success of the bank (Ogunleye & Adeyemi, 2024).
While research on sustainable sourcing in the financial sector is limited, studies have shown that incorporating sustainable practices into supply chain management can lead to cost reductions, improved brand image, and better risk management. This study aims to examine how sustainable sourcing influences supply chain performance at Fidelity Bank, particularly in its Taraba State operations, and whether these practices contribute to improved operational efficiency.
Statement of the Problem
As Fidelity Bank continues to expand its operations in Taraba State, ensuring that its supply chain practices align with sustainability objectives becomes increasingly important. However, there is limited empirical research on the impact of sustainable sourcing on supply chain performance within the banking sector. The bank’s operations may be impacted by unsustainable practices in procurement, leading to inefficiencies, higher costs, and potential reputational risks. Given the complex nature of supply chain operations in the banking sector, it is essential to understand the relationship between sustainable sourcing and supply chain performance to optimize procurement and ensure that the bank remains competitive and operationally efficient.
The problem lies in the limited understanding of how Fidelity Bank’s sustainable sourcing strategies are impacting its supply chain performance in Taraba State. By exploring this relationship, the study aims to provide insights into how the bank can enhance its sourcing practices to achieve better performance and greater sustainability.
Objectives of the Study
1. To analyze the sustainable sourcing strategies employed by Fidelity Bank in Taraba State.
2. To assess the impact of sustainable sourcing on supply chain performance at Fidelity Bank.
3. To identify the challenges Fidelity Bank faces in implementing sustainable sourcing practices in its supply chain.
Research Questions
1. What sustainable sourcing strategies does Fidelity Bank employ in its Taraba State operations?
2. How does sustainable sourcing impact supply chain performance at Fidelity Bank?
3. What challenges does Fidelity Bank face in implementing sustainable sourcing practices?
Research Hypotheses
1. There is no significant relationship between sustainable sourcing practices and supply chain performance at Fidelity Bank.
2. Sustainable sourcing practices significantly enhance supply chain performance at Fidelity Bank.
3. Challenges in implementing sustainable sourcing practices significantly hinder supply chain performance at Fidelity Bank.
Scope and Limitations of the Study
This study focuses on Fidelity Bank’s operations in Taraba State and evaluates how sustainable sourcing practices influence supply chain performance. The study does not cover other states where the bank operates, limiting the scope of the findings. Primary data will be collected from interviews with Fidelity Bank’s procurement and supply chain managers, as well as secondary data from relevant reports. Limitations of the study include access to sensitive data and potential bias in responses from bank employees.
Definitions of Terms
• Sustainable Sourcing: The practice of procuring goods and services in a manner that considers the long-term environmental, social, and economic impacts.
• Supply Chain Performance: The effectiveness of a company’s supply chain in meeting its goals, such as cost-efficiency, speed, and reliability.
• Banking Sector: The segment of the financial industry that deals with the activities of banks and other financial institutions.
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