IMPACT FOR EFFICIENT NEGOTIATION IN PURCHASING FUNCTION IN MANUFACTURING COMPANY
CHAPTER ONE
1.0 INTRODUCTION
1.1 GENERAL OVERVIEW OF THE STUDY
Negotiation is seen as a vital element as well as one of the most interesting topic in purchasing and supply chain management. It applied in purchasing so as to arrive at a fair and reasonable business contract.
Consequently, upon recent shortages of materials, high prices and galloping inflation, general unfriendly supply market as well as the get-rich quick syndrome of some supplied it will be suicidal for a business firm and indeed government agencies to ignore negotiation exercise in its purchasing activities making process of planning, reviewing and analyzing used by the buyer and seller to reach acceptable agreement or compromise on all aspects of the business transaction. (Lee
In purchasing of material, some measures of trust exist between the buyer and the seller when negotiation begins identically, there would be equally of information on cost and estimates between parties involved, as a basis for negotiation, but this is rarely attained except in government’s research and development (R and D). The negotiation is thus usually a dialogue between the buyer and seller to produce a contract, which is at least acceptable to both parties.
1.1.1 BRIEF HISTORY OF THE COMPANY
The name of the company is Rokana Industries Plc Nekede and it as incorporated on September 1978 as a private limites liability company.
The nature of the business is manufacturing and it was founded by Engr. Charles Ugwu, a British trained industrialist/Engineer in 1978.
The managing-Director is Chief Ekemma Geophry now while Engineer Charles Ugwu is the Chief Executive of the company.
The factory is divided into three basic areas namely: Administration, Marketing/sales and promotion. It has a branch in Lagos as their registered street off 52 Ogundana street Allen Avenue Ikeja Lagos. Over 80% of the raw materials for the production of the product are imported.
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IMPACT FOR EFFICIENT NEGOTIATION IN PURCHASING FUNCTION IN MANUFACTURING COMPANY
