Supplier and stocks management practices at Cocoa Processing Company Limited
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Date
2015-03-30
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Abstract
Supplier and stocks management practice continues to be growing phenomena in most cocoa
processing companies all over the world. Decision about how many of which products are to
be in the warehouse, when to place next the orders, the quantities to be ordered are some of
the problems encountered every day. High level of stock locks up the capital of any company.
Hence, the aim of this study is to uncover the best stocks management practice and supplier
management that will make the Cocoa Processing Company (CPC) adhere to the value for
money in capital and recurrent expenditures with relation to procurement law in the country.
The objectives are to identify the suppliers and stocks management principles adopted and
utilized; assessing the effectiveness of Cocoa Processing Company‟s Suppliers an d Stock
control management; examining the challenges encountered in the application of supplier and
stock control management and ascertain whether or not learned from these principles. A
thorough literature review was done, hence questionnaires was designe d and administered to
total sample of seventy-three respondents which was made up of various departments who
are involved in suppliers and stock management processes. Data was analysed using
Statistical Package for Social Science (SPSS, Version 16) through the use of descriptive
statistics (percentages). The findings of the study point out to the fact that computerized
system are used in taking inventory, however, these is only used at the stores and not
accessible by end-users. In addition some of the challenges the study revealed include: non -availability of production materials, the trade system adopted by the government has
constrained the company in production activities and the power outage has led to increase in
production. Again, congestion at Tema port has caused untimely delivery imported input.
More importantly, the study revealed that the company has failed in documentation due to
redeployment strategies which does not fit current trend company status. The study therefore
recommend that Appraisal Tender Review Committee (TRC) should be vibrant in ensuring
effective and efficient dissemination of information to entire staff on procurement processes
and procedures to enable informed decisions by CPC Management. Capacity training on
knowledge and skills acquisition in procurement management for staff should be encouraged.
There should be the engagement of material manager for the coordination of departments
involve in handling all suppliers of production stocks and materials. The implication of the
study gives a directional approach to the management of suppler and stocks management at
CPC Ltd and adheres to will improve the performance of the company as a whole.
Description
A dissertation submitted to the Department of Building Technology
Kwame Nkrumah University of Science and Technology in partial fulfillment of the
requirement for the degree of
MSc Procurement Management