NEGOTIATION AS A COST REDUCTION TECHNIQUE IN MATERIAL PROCUREMENT AT NIGERIAN BOTTLING COMPANY PLC

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ABSTRACT
Negotiation as a reduction technique in material procurement is to ensure that high cost incurred in material procurement is manage hence the negotiation is one of the tool in spend cost management to optimise profit in every organization. Lack of knowledge to some guide when negotiating by procurement manages lead to high cost of finished product and it makes the product not to compete well with its competitors in the market. The impact expected at the end of negotiation is to minimize cost and maximise profit of the organisation. In both private and public sectors between 50% to 80% of the total expenditure is spend on acquiring either materials or services. The high percentage of charges by company’s agent could lead to additional cost of production over invoicing and overpayment. What else can be done, and what other mean can be used to acquire raw materials without incurring high cost. To reduce high cost, negotiation is one of the technique of spend cost management to arrive at a mutually acceptable bargain by planning. Objectives and strategy in order to arrive at an agreed pace term and condition of service between a procures and supplier. To ensure prudence and judicious utilization of the limited resources available in an organization. To expose ideas to procurement manager on how to achieve the objectives and enhance the profitability of organization as materials procured when adequately negotiated reduce cost incurred in acquisition of material for production process. To expose purchasing manager to possible tools of spend and cost management. The major research question of what re the techniques for negotiation the strategies for effective negotiation, the rate of material availability, how coordination and management of suppliers to ensure cost reduction and constant flow of materials to avoid interruption at the point of production. The research Design would be descriptive and analytical in nature. Interview would be conducted on selected staffs of Production, Stock Control section, Human Resources and Procurement Department. The Instrument for data collection are Questionnaire, Record, Interview, Observation. This work also comprise of summary of findings, conclusions and recommendation.
 
TABLE OF CONTENTS
Title 
Approval
Declaration 
Dedication 
Acknowledgement 
Abstract 
Table of contents
List of table’s 

CHAPTER ONE: 
Introduction 
1.1 Background of the Study
1.2 Statement of the Problem 
1.3 Objectives of the Study 
1.4 Significance of the Study 
1.5 Scope of the Study
1.6 Research Questions 
1.7 Definition of Terms

CHAPTER TWO:
Literature Review
2.1 Negotiation 
2.2 Preparation for Negotiation
2.3 Negotiation Techniques 
2.4 Objectives of Negotiation
2.5 When to Negotiate 
2.6 Importance of Negotiation in Relation to Procurement 2.7     Cost Reduction     
2.8     Negotiation Process.
2.9     Qualities of a Good Negotiation.
2.9.0  Material Procurement  
 
CHAPTER THREE: 
Research Methodology
3.1 Area of Study
3.2 Research Design
3.3 Population of the Study
3.4 Sample, and Sampling Technique
3.5 Instruments for Data Collection
3.6 Administration of the Instrument 
3.7 Techniques for Analysing Data  
CHAPTER FOUR : 
Presentation and Analysis of Data
4.1 Presentations of Results 

CHAPTER FIVE: 
Summary, Discussion, Conclusion and Recommendations
5.1 Summary of Procedure 
5.2 Discussion of Findings 
5.3 Implication of the Findings 
5.4 Conclusion 
5.5 Recommendations 
5.6 Suggestions for further Studies
5.7 Delimitation of the study  
Bibliography
Appendix

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APA

Kings, S. (2018). NEGOTIATION AS A COST REDUCTION TECHNIQUE IN MATERIAL PROCUREMENT AT NIGERIAN BOTTLING COMPANY PLC. Afribary. Retrieved from https://afribary.com/works/negotiation-as-a-cost-reduction-technique-in-material-procurement-at-nigerian-bottling-company-plc-7742

MLA 8th

Kings, Solomon "NEGOTIATION AS A COST REDUCTION TECHNIQUE IN MATERIAL PROCUREMENT AT NIGERIAN BOTTLING COMPANY PLC" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/negotiation-as-a-cost-reduction-technique-in-material-procurement-at-nigerian-bottling-company-plc-7742. Accessed 15 Aug. 2022.

MLA7

Kings, Solomon . "NEGOTIATION AS A COST REDUCTION TECHNIQUE IN MATERIAL PROCUREMENT AT NIGERIAN BOTTLING COMPANY PLC". Afribary, Afribary, 29 Jan. 2018. Web. 15 Aug. 2022. < https://afribary.com/works/negotiation-as-a-cost-reduction-technique-in-material-procurement-at-nigerian-bottling-company-plc-7742 >.

Chicago

Kings, Solomon . "NEGOTIATION AS A COST REDUCTION TECHNIQUE IN MATERIAL PROCUREMENT AT NIGERIAN BOTTLING COMPANY PLC" Afribary (2018). Accessed August 15, 2022. https://afribary.com/works/negotiation-as-a-cost-reduction-technique-in-material-procurement-at-nigerian-bottling-company-plc-7742