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Negotiation As A Cost Reduction Technique In Material Procurement At Nigerian Bottling Company Plc Kaduna Plant
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1.3 Objectives of the Study
The objectives of these study is to
ensure negotiation technique of communication for bargaining are well
understood so that the buying organization and the supplier will arrive
at and agreed price, terms and condition of service, payment and so on.
To
ensure prudence and judicious utilization of the limited resources
available in an organization, all procurement undertaken must comply
with the principle of openness between the procurer and the supplier,
transparency, accountability, competition among suppliers, cost
effectiveness and value for money are monitored to enhance profitability
of organization. Between the procurer and supplier there should be an
understanding which leads to reducing cost involved in competitive
bidding.
To also make room for meetings in order to attain the desire
goal of the organization, and to ensures that suppliers perform
according to the terms of the negotiation.
This study is specifically designed to:
i. Identify the techniques for negotiation
ii. Identify the strategies for effective negotiation
iii. Investigate the current trend of materials availability in the organization under study
iv.
Identify criteria for coordination and management of supplier, that
can ensure cost reduction in material procurement
v. Identify means of constant flow of material negotiated to avoid interruption at the point of production.
1.4 Significance of the Study
This
research work would be useful or the beneficiaries of this research
work is the management of the organization under study, Nigerian
Bottling Company Coca Cola Plc to re-address the way and manner by which
materials are procured with regard to cost consciousness
The
research work would also be of benefit to private and public procurement
entity when negotiating on either organization or government contract.
Negotiation is a trick to win supplier’s heart to willingly enter into a
business traction and not using authority or power.
The research
work would add to the findings of the previous and future researchers
who intend to study or have studied similar topic and will also help the
other incoming researcher to build up on their findings.
As a
procurement manager the knowledge acquired would be used at the field to
practice the profession in acquisition of materials to enhance
profitability of the organization. To also expose some development
suppliers stand to benefit from the organization the supply materials.
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