IMPACT OF NEGOTIATION IN ATTAINING PURCHASING OBJECTIVES
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- Recommended for : Student Researchers
- NGN 3000
Abstract
In this project, an attempt has been made to know the impact of negotiation in attaining purchasing practice. This research exposed the importance of negotiation in an organization and who and when a negotiation should be carried out. For an organization to function effectively and efficiently in this procurement, negotiation is very important to attain it. Without an effective negotiation an organization will not or cannot be able to carryout its buying activities effectively. In purchasing and supply, negotiation is vital because without it, it cannot function effectively. An organization enter into negotiation to get a fair and reasonable price in its buying activities. Companies in Nigeria have a relentless goal of keeping their procurement cost down as most of them depend solely on tution fees. In the past, companies would mostly look to make cost-savings from headcount reductions or internal re-organisation. Now they are increasingly turning to procurement and strategic sourcing as a means for cost reduction in procurement. The study examined the impact of effective negotiation in realization of procurement goals in Nigeria Bottling Company PLC. The research was conducted through the use of self-administered questionnaire to obtain primary data. The study had sample size of 206. Purposive sampling technique was used to select respondents that are involved in procurement for the area of the Study. Descriptive analysis and linear regression analysis were used in analyzing the obtained data. The results indicated that effective negotiation is a strong procurement strategy in Nigeria Bottling Company PLC and has a significant impact in realization of procurement goals. The study concluded that Nigeria Bottling Company PLC procurement goals are realizable with effective negotiation strategy.
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