|Supplier Selection Criteria used by Goldfields Ghana Limited, Tarkwa Mine
1Lord Emmanuel Yamoah | 2Isaac Kofi Yornu
“The problem statement describes the content for the study and it also identifies the general analysis approach” (Wiersma 1995, p. 404); “A problem might be defined as the issue that exists in the literature, theory, or practice that leads to a need for the study” (Creswell, 1994 p. 50). Frank Pajares states that effective problem statements should answer the question “Why does this research need to be conducted”? (Frank Pajares, 2007). Today, organizations worldwide have to cope with very keen competition and a dynamic environment as market conditions are changing rapidly and cuastomers are demanding better and better products and services (AQCL 1997) in response to the increasingly stringent demands and to maintain or improve the competitive advantage, firms that excel must implement strategies to achieve cost reduction, continual quality improvement, increase customer service, delivery improvement and reduced concept-to-market product cycle time. In addition, many companies currently have come to realize the importance of persistently strengthening and improving themselves to win or survive in the fierce competitive market. The pursuit of competitive advantage requires the development of global processes and strategies that become an integral part of a firm’s supply chain effort. For many, it is clear that pursuing global sourcing strategies and approaches that integrate engineering, purchasing, operations, logistics and even marketing. Global sourcing may well be one of the last untapped areas, which offers the kinds of performance breakthroughs required to maintain successful in highly competitive markets (Trent & Monczka 2003).
On the contrary, a successful sourcing activity cannot be carried out unless cooperative buyer-supplier relationships are established. As companies adopt new manufacturing strategies, such as Just-In-time (JIT) it is expedient to consider those factors that influence buyer-supplier relationship. The problem of this study is compelled by the need to empirically examine the impact pf strategic sourcing and supplier selection on the operations of Goldfields Ghana Limited, Tarkwa Mine.
Keywords: Potential Suppliers, Selection Process, Supply Chain Management