Abstract
Private Universities in Nigeria have a relentless goal of keeping their procurement cost down as most of them depend solely on tution fees. In the past, companies would mostly look to make cost-savings from headcount reductions or internal re-organisation. Now they are increasingly turning to procurement and strategic sourcing as a means for cost reduction in procurement. The study examined the impact of effective negotiation in realization of procurement goals in Redeemer’s University. The research was conducted through the use of self-administered questionnaire to obtain primary data. The study had sample size of 206. Purposive sampling technique was used to select respondents that are involved in procurement for the University for the Study. Descriptive analysis and linear regression analysis were used in analyzing the obtained data. The results indicated that effective negotiation is a strong procurement strategy in Redeemer’s University and has a significant impact in realization of procurement goals. The study concluded that Redeemer’s University procurement goals are realizable with effective negotiation strategy.
Highlights
According to Chipiro (2009) the procurement and supply activity of organisations is one which spans both internal service and business-to-business services
The results indicate that effective negotiation had a statistically significant impact in realization of procurement goals as it had a probability of 0.000 which is lower than the probability conventional of 0.05
Effective negotiation has an impact in realization of procurement goals
Summary
According to Chipiro (2009) the procurement and supply activity of organisations is one which spans both internal service and business-to-business services. This is an important activity found in all organisations, public, private, governmental and charities and can be responsible for a large amount of spending. To develop an effective procurement strategy or sourcing strategy, first it is necessary to sit down to assess the details that you have to work with. These details will include the business’ or project’s objectives, the available and existing resources and supplies, the budget and the timeline. A good question to ask would be, “Why are we purchasing this equipment?” The answer must be in accordance with the company’s goals
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