IMPACT OF PURCHASING RESEARCH ON THE PROFITABILITY OF AN ORGANIZATION
ABSTRACT
This is a Research on the impact of purchasing Research in the profitability of an organization.This research project is written to analyze critically the strategic involved in the impact of purchasing research, how it will profit the organization and the basic need to adopt the purchasing research for the profitability of an organization. It will help together useful information about the product which is to be purchased, to ensure the quality and quantity and at a good price. It is also intended to make useful suggestions and recommendation that will help in purchasing materials for the organization.
The language used is simple enough to be understood by the readers.
This research project has been specifically and carefully prepared in five chapters.
Chapter One: of the study, statement of the problem, objective of the study, Chapter Two: The researcher reviews the related literature. Chapter Three: It centers on Research methodology, Chapter Four: Is about data presentation, Testing of hypothesis while Chapter Five: is all about the summary, Conclusion, recommendation and Bibliography.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Research affects all spheres of man’s activities.
The companies are not therefore lift out, especially as regards materials, sources of supply and other important and related issue about purchasing, hence purchasing research.
The first world countries have embraced research that they have made remarkable and outstanding success and progress in the technological advancement of the world. This study seeks to encourage third world countries especially Universities and Polytechnics research institutions and the like not to overlook the importance of research.
More so, Companies are advices to pay good attention to the conditions of purchasing research for their increased profitability. They are encouraged to know that purchasing research is a tool that can assist them in their daily purchasing decisions. As an aid to enhance purchasing activities, companies are against this background expected to embrace purchasing research and provide the finance necessary to carry out the research for better performance of the purchasing function, which in turns contributes to the overall organizational profitability.
1.2 STATEMENT OF THE PROBLEM
It is pertinent to know that third world countries are yet to appreciate the contributions of purchasing not to talk of purchasing research in manufacturing organization. This being the case has let to the issues of buying sage” where the marketing manager, the Accountant and even the managing director, will want to buy materials and other parts necessary to support production in an undertaking. If profit oriented organization can embrace purchasing as one of the top managerial function, then research will take its proper form or position.
It is against this background that the researchers’ interest heighted to create the conscion sness in the minds of the “Uninformed generals the purchasing research is of great importance and relevant in the profitable of an organization.
Furthermore, the research is recommending that organization should come to terms with purchasing by separating the purchasing department from other department like marketing, Accountant products etc and give it top management approval. It should not be only regarded as routine day to day or clerical activity but should be seen as a management functions, that goes beyond ordinary buying and selling. From the forgoing, the statements of this problem are:-
1. Purchasing research is important and so should not be over looked.
2. Its contribution to an organization profitability is enormous
3. Funds should be made available to carry out purchasing research.
4. What areas are necessary for purchasing research to be carried out?
5. What are the impacts of the purchasing function as purchasing research?
