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Impact Of Material Sourcing In Enhancing The Organizational Profitability
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1.6 Research Questions
The research question includes:
i) What are the determining factors affecting sourcing policies adopted by Nigeria Breweries?
ii) What are the criteria for selecting suppliers in Nigeria Breweries?
iii) What are the challenges facing managers in materials sourcing?
iv) What are the factors that lead to impact of material sourcing on the profitability of Nigeria Breweries?
1.7 Definition of Terms
§ Raw Materials: Are items, which are to be processed through production process to obtain desired finished goods.
§
Purchasing: it is the process of ensuring that all the materials
required for production made available at the proper time, in the proper
quality at a proper place and price.
§ Information: Data can be
interpreted by an individual to provide meaning, a tangible or tangible
entity that reduce uncertainty about a state or an event.
§ Sourcing: The event to which buyers search or suppliers to build long term relationship.
§
Outsourcing: An arrangement by which one organization provides a
service or services for another organization that choses not to perform
them in house.
§ Negotiation: Is the art and science of arriving
at a common understanding through bargaining with essentials of a
control, such as price, quality, quantity, delivery, time, terms and
condition of services.
§ Selecting: Is the process of selecting the right suppliers to source or outsource.
§
Bid/Tender: Is an offer made by a supplier, contractor or services
provider to a buyer in a response to a direct “written†or indirect
“advert†enquiry.
§ Biding/Tendering: Is a purchasing procedure
by which potential suppliers invited without collusion to present to an
organization, a firm and clear offer of price, terms and conditions
which upon acceptance of contract.
§ Time: When organization
cannot meet up with time or cannot complete the whole task within the
specified period, the organization can outsource a part of the product
in other to meet up with schedules.
§ Quality Specification: Is
the description of an item, its dimension, analysis, performance or
other relevant characteristics in sufficient detail to ensure that it
will be suitable in all respect for the purpose it is wanted.
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