EFFECTIVE PURCHASING PLANNING AS A COST REDUCTION TOOL IN THE MANUFACTURING INDUSTRY
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TITLE PAGE
EFFECTIVE PURCHASING PLANNING AS A COST REDUCTION TOOL IN THE MANUFACTURING INDUSTRY
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "effective purchasing planning as a cost reduction tool in the manufacturing industry" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
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TABLE OF CONTENTS
Title of page
Approval page
Dedication
Acknowledgement
Abstract
CHAPTER ONE
- Introduction
- Statement of problem
1.2 Significant of the study
1.3 Objective of the study
1.4 Scope of the study
1.5 Limitation of the study
1.6 Historical background of nigeria breweries plc ikeja lagos
1.7 Definition of terms
CHAPTER TWO
- Literature review
CHAPTER THREE
- Research methodology
3.1 Instrument or tools used
3.2 Research size
3.3 Technical used in analysis data
3.4 Testing of Hypothesis
CHAPTER FOUR
- Presentation of data
4.1 Analysis of data
4.2 Discussion of results
CHAPTER FIVE
- Summary of findings
5.1 Findings
5.2 Recommendation
5.3 Conclusion
5.4 References
Questionnaires
CHAPTER ONE
1.0 INTRODUCTION
Purchasing planning as a managerial function as really come a long way In the past when materials component, parts, energy etc. were abundant and available at ridiculously low prices, purchasing was not given proper chance to operate. That is, purchasing was looked upon as unimportant function. However, now that materials are in short supply there is generally an existence of what is called "GALLOPING INFLATION".
This results to high prices of materials or unfriendly supply market, it will be very unreasonable for any business firms and induced government to ignore purchasing planning function.
Based on the above reasons, purchasing tends to play an important role in any business organization whether profit or non profit oriented. In a nutshell the project is about the needs for any organization to focus it attention on the importance of purchasing planning functions.
To a layman, purchasing means the process of buying raw material component, part and services. But in a broader sense, purchasing can be defined as the procurement of the right quantity, the right quality, of goods at price from the right sources and delivered in good condition to right location as and when required.
1.1 STATEMENT OF PROBLEM.
Despite the company's contribution to the promotion of industrialization in Nigeria generally some problems still face the establishment. Some of these problems are not known to the public and as a result of this, people try to understand that it is only the problem of finance they are facing.
The problems discovered in this study are as analyzed below.
- The product supplied to the consumer are far below the requirement of the customers. The customers complained bitterly of not getting enough products when demanded.
- The N.B Ltd did not have enough storage facilities to store the product produced.
This was why they were not able to meet the demand of their numerous customers.
The establishment complained bitterly of being starved of money by the & government and also government intervention since it is money that can enable
them to discharge their duties well to their customers.
- 2 SIGNIFICANCE OF THE STUDY.
The primary objective behind the research is for the researcher to be able to fulfill the pre-requisites for the ward of professional in purchasing and supply, since the project forms as aspect of the course,the secondary objective in writing this research is that, the researcher has been waiting to directing attention is key performance is improving.
Therefore, clearly stated and will understand. Purchasing planning objectives are pre-requisites to purchasing measurement and evaluation.
Generally, purchasing planning objectives which are typical to many industries or organization include:
- Supplier Development.
- Lowest total material costs
- Maintenance of adequate quality
- Continuous supply of needed materials component and services.
- 3 THE OBJECTIVE OF PURCHASING PLANNING FUNCTION
What are the objectives and responsibilities of the purchasing department unit?
The classical definition of purchasing planning objective is to buy materials and services of the right quality to the right quantity at the r right price from the sources at the right time and delivered to the right place.
The following are some of the objective of purchasing:
- Advising other function on the suitability and availability of supplies to meet material needs.
b advising of formulation of all policies affecting or affected by the purchasing function .
c Developing good relationship with other department thus creating greater efficiently and material trust, confidence and understanding .
d carrying out all activities involved in purchasing function in an efficient and business manner .
e. Providing the organization with steady flow of materials to meet its needs and management at the material times.
f. Developing and maintain good relationship with both existing and potential suppliers to order create a reliable and confident services to the organization. This assists greatly in building up suppliers’ goodwill. "~
1.4 SCOPE OF THE STUDY
This study covers the activities of purchasing officers in a large retail organization as a case study of Nigeria breweries Plc Lagos, since the company is the overall controller of other distributors and departmental stores in the state. The facts collected in this project only covers the activities performed in the chosen organization.
1.5 LIMITATIONS OF THE STDY
There can not be any successful research of this nature without encountering some difficulties which might cause its success or failure. The following are some of the dangers encountered:
- Difficulties are some of the dangers encountered :-
some valid information relating to the object matter.
- Collection of relevant data is noted to consume
time and funds.
- Another problem faced is lukewarm attitudes of some officers who supposed to attend and give reasonable response. The occurred with the view that such
a research can serve as a deterrent to items forgetting that it may be immense improvement in their performances.
1.6 HISTORICAL BACKGROUND OF NIGERIA BREWERIES PLC IKEJA LAGOS.
The Nigeria breweries Plc Ikeja was incorporated on 16th November 1946, under the companies ordinance, Cap. 36, as Nigeria Brewery Limited on 7th January 1957, the name of the company was changed to Nigeria Breweries Limited in 1990, when the companies and Allied matter. Act of that year came into force, the name of company further changed to Nigeria Breweries Plc.
Nigeria breweries Plc is and interest in the quality of Nigeria breweries Plc was the imakes of Gulder, Maltina, Legend, Star, Extra Stout, Amsted Malta .
The company consolidated its principal activities of brewing during the year under review, Nigeria Breweries Plc brand remained very strong and well sought-after, with their strong equities ensuring our continuing broad leadership in the larger , and malt categories and stout segment differentiation during the year under review .
Nigeria Breweries Plc Lagos board consists of seven executives Directors and seven executive Directors (including the chairman).The board also has a formal scheduled of meeting annually meet full time in the course of the year review.
The issued and fully paid-up share capital of the company was 3,7,8,1, 203, 924 ordinary share of 50 kobo each.
According to Nigeria Breweries the Lagos register of member, only Companies within the Heineken group having 2,045,630,426 share (representing 54.10%) Gold more than 10% of the issued share capital as at that date. The remaining I, 735,573,498. Shares were held by Nigeria citizen and association and the represent 45.90%. None of the Director has notified the company for the purpose of section 277 of the companies and allied matters Act Cap. 59, how of the federation of Nigeria 1990, of any discloseable interest in central with which the company is involved, either at 31st December or as 9th April, 2003.
Nigeria Breweries has valid and subsisting agreement with the following organizations.
a. Heineken Technical Services B.V.
b. Premium Beverages International B.V.
c. Amstel Beverages B.V.
The agreement was covered by the National Official for technology Acquisition and promotion.
The company has 150 key distributors and wholesalers it products. Nigeria Breweries Plc Lagos. Also provides employment opportunities to disable person. This goes beyond the need to ensure that there is no discrimination against disable person but also conies from a belief that they have a contribution to make in nation building at present, we have thirteen (13) disabled person in employees.
1.7 DEFINITION OF TERMS.
RESEARCH: The act of investigating to get facts about something from variety of sources.
2. RESEARCHE : The individual also undertake to carryout investigation to discover facts about something from many sources.
- EXPEDITING:- The process of evaluating that goods ordered by the buyer and delivered at the required time to the correct place as promised by the suppliers.
- EVALUATION: - Evaluation in purchasing is required to ensure that progress is being made toward objectives, according to plan of evaluation is part the control process.
- PURCHASING REQUISITION : This document contain all the necessary information about the item or goods needed by the user department before being sent to the purchasing department.
- INSPECTION: - This is the process of ascertain whether or not the goods delivered are of specified quality, quantity etc.
7. ENQUIRY: - Tin's is an invitation to suppliers requesting him to submit price of goods and services.
- BONDED STORES :- Bonded stores could be described or is used to describe goods held in a special store house on a separate exclusive within store house awaiting clearance by the inspection personnel
- STOCK CONTROL: - Tin's is the means by which materials of the correct quantity and quality is made available as and when required with due regard to economy in storage cost and ordering costs purchase price and working capital.
- OBSOLESCENT: - An items said to be obsolescent when it is getting out of use but is not yet completely unusable.
- OBSOLETE: - An item is regarded as absolute when it is no longer in use i.e completely out of use.
- REDUNDANT; - When the quantity of an item in store is more than reasonably necessary to provide an adequate service to the production or operational activity, the excess over the normal holding is said to be redundant.
1.8 PROJECT ORGANISATION
The work is organized as follows: chapter one discuses the introductory part of the work, chapter two presents the literature review of the study, chapter three describes the methods applied, chapter four discusses the results of the work, chapter five summarizes the research outcomes and the recommendations.
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "effective purchasing planning as a cost reduction tool in the manufacturing industry" is also available. Order full work to download. Chapter two of "effective purchasing planning as a cost reduction tool in the manufacturing industry" consists of the literature review. In this chapter all the related work on "effective purchasing planning as a cost reduction tool in the manufacturing industry" was reviewed.
CHAPTER THREE: The complete chapter three of "effective purchasing planning as a cost reduction tool in the manufacturing industry" is available. Order full work to download. Chapter three of "effective purchasing planning as a cost reduction tool in the manufacturing industry" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of "effective purchasing planning as a cost reduction tool in the manufacturing industry" is available. Order full work to download. Chapter four of "effective purchasing planning as a cost reduction tool in the manufacturing industry" consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of design and construction of a "effective purchasing planning as a cost reduction tool in the manufacturing industry" is available. Order full work to download. Chapter five of "effective purchasing planning as a cost reduction tool in the manufacturing industry" consist of conclusion, recommendation and references.
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