Need for Effective Vendor Selection & Rating in an Organization
CHAPTER ONE
OBJECTIVES OF THE STUDY
The objectives of the study are;
- To find out whether the organization attach a lot of importance to vendor selection and rating.
- To find out whether the organization has qualified personnel available to handle the job vendor selection and rating in the organization.
3. To also find out whether organization is fear of vendor selection and rating, because it is very expensive to handle. - To find out whether the organization structure of the firm has negative impact on the performance of vendor selection and rating
CHAPTER TWO
REVIEW OF RELATED LITERATURE
Identifying Potential Vendor
To survive in the intensely competitive Market, it is very important to not only rely on existing vendors but also to search and discover new vendors. F. Hedderich et al (2006) have suggested importance viable new vendors. The Purchaser must also be cognizant of the need to ensure such Vendor Should qualified for require job Identifying and qualifying potential Vendor. Process of vendor selection can be time-consuming and costly, Purchaser often develop a long-term supply base consisting of Potential Vendor. Following some points are important in selection for vendor
1 Importance of new Vendor: Many factors make new vendor‟s s important. First, there may exist new vendors that are superior in some way to a firm‟s existing Vendor. For example, a new vendor may have developed a innovative production technology which allows it to drastically reduce its production costs Purchaser may need more number of vendors to introduce competition and to minimize risks involved due to disruption in supply.
2 Vendor’s reputation: Vendor non-performance can leads to failure in job completion. Vendor performance is directly related to project completion e.g. in Production delays that may occur due to shortage in parts and when faulty products produced by Vendor may be recalled. Such cases are time consuming for Purchaser
CHAPTER THREE
RESEARCH METHODOLOGY
Research design
The researcher used descriptive research survey design in building up this project work the choice of this research design was considered appropriate because of its advantages of identifying attributes of a large population from a group of individuals. The design was suitable for the study as the study sought to need for effective vendor selection and rating in an organization
Sources of data collection
Data were collected from two main sources namely
Primary source:
These are materials of statistical investigation which were collected by the research for a particular purpose. They can be obtained through a survey, observation questionnaire or as experiment; the researcher has adopted the questionnaire method for this study.
Secondary source:
These are data from textbook Journal handset etc. they arise as byproducts of the same other purposes. Example administration, various other unpublished works and write ups were also used.
CHAPTER FOUR
PRESENTATION ANALYSIS INTERPRETATION OF DATA
Introduction
Efforts will be made at this stage to present, analyze and interpret the data collected during the field survey. This presentation will be based on the responses from the completed questionnaires. The result of this exercise will be summarized in tabular forms for easy references and analysis. It will also show answers to questions relating to the research questions for this research study. The researcher employed simple percentage in the analysis.
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
Introduction
It is important to ascertain that the objective of this study was to ascertain need for effective vendor selection and rating in an organization
In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of vendor selection and rating in an organization
Summary
This study was on need for effective vendor selection and rating in an organization. Four objectives were raised which included: To find out whether the organization attach a lot of importance to vendor selection and rating, to find out whether the organization has qualified personnel available to handle the job vendor selection and rating in the organization, to also find out whether organization is fear of vendor selection and rating, because it is very expensive to handle and to find out whether the organization structure of the firm has negative impact on the performance of vendor selection and rating. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of nestle food plc, Lagos. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up supervisors, administrative staff, senior staff and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
Conclusion
The vendor selection framework is of vital importance for operation of every company because it should not affect cost and quality fully or partly. Indeed, for many organizations effective, finalization of vendor and actual purchasing from them are not that easy job. A great deal of research has been conducted to determine what key steps should be used to select a vendor. Systematic frame work helping purchase team in find out the potential vendor in market for particular job. Purchaser team can rank the available vendor depend upon our requirement. Apart from this purchaser having choice to go for negotiation with vendor for finance or quality purpose. After awarding contract to vendor, Monitoring of work is essential for project execution or completion job. Purchaser can keep watch on vendor activity and control the activity if it deviated from schedule. In practice, key steps of framework must take into consideration the hurdles, complications of real life while vendor selection a complicated decision problem which involves ups and downs of trade and fulfilling the requirement.
Recommendation
Purchaser should keep watch on vendor activity and control the activity if it deviated from schedule.
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