research proposal
CHAPTER ONE
INTRODUCTION OF THE STUDY
1.1 Introduction
This chapter provides the background of the study, statement of the problem, objectives of the study, research questions, significance of the study, limitations of the study and the scope of the study.
1.2 Background of the Study
Supplier Management is a set of principles, processes, templates, and tools that help companies maximize relationship value and minimize risk and management overhead over the entire supplier relationship lifecycle. SRM enables organizations to effectively: Stratify suppliers based on importance and define relationship expectations, establish the governance structure and process for internal and supplier interactions across the lifecycle of the supplier relationship, define formal processes for management involvement in the relationship and clarify internal roles and responsibilities, and required skills (Kahraman, 2003).
Suppliers have been acknowledged as the best intangible assets of any business organization. However, selecting the right suppliers for a long term relationship is a relevant procurement issue that demands judicious attention. Supplier selection that leads to supplier management becomes one of the most important issues for establishing an effective supply chain system. Supplier management and evaluation represents one of the significant roles of purchasing and supply management functions, note that one of the key elements essential to supply chain success is effective purchasing function (Rangaraj, 2005).
Scherer (2010) managing suppliers requires a clear company-wide understanding of which suppliers are the most strategic to the organization and which are less important. However, in the absence of balanced, formal criteria for supplier stratification, suppliers on which the organization spends the most are inevitably viewed as the most important and tend to capture the greatest relationship focus and effort. Factors such as business criticality,
INTRODUCTION OF THE STUDY
1.1 Introduction
This chapter provides the background of the study, statement of the problem, objectives of the study, research questions, significance of the study, limitations of the study and the scope of the study.
1.2 Background of the Study
Supplier Management is a set of principles, processes, templates, and tools that help companies maximize relationship value and minimize risk and management overhead over the entire supplier relationship lifecycle. SRM enables organizations to effectively: Stratify suppliers based on importance and define relationship expectations, establish the governance structure and process for internal and supplier interactions across the lifecycle of the supplier relationship, define formal processes for management involvement in the relationship and clarify internal roles and responsibilities, and required skills (Kahraman, 2003).
Suppliers have been acknowledged as the best intangible assets of any business organization. However, selecting the right suppliers for a long term relationship is a relevant procurement issue that demands judicious attention. Supplier selection that leads to supplier management becomes one of the most important issues for establishing an effective supply chain system. Supplier management and evaluation represents one of the significant roles of purchasing and supply management functions, note that one of the key elements essential to supply chain success is effective purchasing function (Rangaraj, 2005).
Scherer (2010) managing suppliers requires a clear company-wide understanding of which suppliers are the most strategic to the organization and which are less important. However, in the absence of balanced, formal criteria for supplier stratification, suppliers on which the organization spends the most are inevitably viewed as the most important and tend to capture the greatest relationship focus and effort. Factors such as business criticality,
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