PROBLEMS AND PROSPECTS OF AN INTERMEDIATE BUYER
This research works on- the problems and prospects of an intermediate buyer with a case study of sabiz supermarket are geared towards guiding supermarket and entrepreneurs. The problems that called for this study include among others that most managements of supermarkets lack appropriate techniques for funding their businesses and competent hands are not readily employed to man the activities of the supermarkets.
The objectives of the study include among others to encourage the supermarket to develop appropriate techniques for funding their business and encouraging the supermarkets in keeping proper records.
The methodology used in the research which assisted in gathering data as well as oral interview.
In deed the major research findings include that the self-service system of supermarket enhances purchases in the supermarket and that the accounting system of the supermarket is not excellent.
It was recommended among others that management should make the supermarket roomy enough to accommodate the customers at each point in time and that the accounting system in the supermarket should be developed to excellence.
It was however concluded that the supermarket sells those goods that meet the taste and demand of the location.
1.1 BACKGROUND OF THE STUDY
Over the years, most enterprises especially the Sabiz supermarket ikeja have been subjects to high level unproductively, inefficiency and unpredictability, owing to the inability of the management of such enterprises to evaluate their problem to them with a view of proffering solution to them in a way that may have wonderful prospect
It was Ogu (2001:42) who maintained that “the supermarket is a large self service shop, smaller than a departmental store, which stores under one roof house hold items and foods items’. Reasoning in the same direction, Njokwu (1999:23) is of the opinion that “supermarkets are retail stores that sell only house hold goods. They usually operate on the principle of quick turnover of small profit margin.
Supermarkets mainly sell household goods and goods which are on daily demand, the goods are arranged in such a way as to encourage impulse buying, properly repacked with price tags. Baskets and trolleys are also provided to assist customers in picking the goods they want to buy”
Indeed, Anyanwu (2003: 68) assets that “counters are arranged in the supermarket in such a way and manner that customers are generally led back to the centre of the shop rather than to he exit door”. According to Anyanwu “supermarkets afford the customers lots of convenience as he can buy all his needs under one roof and the cheaper price offered, results not only in high turnover, but also in savings for the customers. Fewer assistants are required to run the supermarket due to its self-service system and customers are discriminated against in terms of prices charged for items bought every item has a price tag or label
However, Ibeto (1997:25) is of the view that “shop-lifting is rampant in supermarkets as customers walk around unguided and customers are denied the opportunity to ascertain alternative prices for the goods as the supermarket environment suggests one seller:”
Nwachukwu (2000:60) is more interested in those factors that make impacts on the standard of management of supermarkets. according to him “management of different supermarkets do look at such factors as the location of business ability for proper demand management skills for strategic pricing and techniques for reduction of theft as well as motivation of employees” indeed, most supermarkets have the problems of financing and such problem seem to persist because the management of such business do not explore the business financing strategy available to it .Igbo (1996:24) maintains that financing of supermarket can be in form of profits, borrowing, loans, credits purchases, investments in securities and sale of assets “. Target should also be set and evaluation carried out
Ike (1998:47) listed the problems that may affect a supermarket as those of “inadequate funding, untrained employees, poor location, poor patronage, theft and robbery”. Others include “poor management and inadequate control’ it is also only when the problem of a supermarket are squarely faced that the prospects of the enterprise can be carried out to examine the problems faced by the supermarket especially the sabiz supermarket ikeja with a view to proffering or recommending solutions to them and making the future of the enterprise bright