The Impacts of Strategic Sourcing in an Organization

¹Lord Emmanuel Yamoah | ²Isaac Kofi Yornu

Abstract

The research was basically concern with the impacts of strategic sourcing on Goldfields Ghana Limited, Tarkwa-Mine. The following specific objectives were set for the study; to identify the impact of strategic sourcing to Goldfields Ghana Limited, Tarkwa, to assess the time frame which purchasing professionals use in a particular method of strategic sourcing, to assess whether Goldfields Ghana Limited awards contracts to qualified suppliers, to determine how strategic sourcing criteria used in awarding contracts by Goldfields Ghana Limited,  to examine whether Goldfields Ghana Limited achieves cost effectiveness when they source, and to identify the major suppliers of Goldfields Ghana Limited, Tarkwa. A convenient sampling method was used to select a sample size of twenty (30) respondents. The data derived has been analyzed and presented in this project work using tables and pie charts. This has led to the finding that, the effectiveness of Goldfields Ghana Limited strategic sourcing has helped in the growth of the company.  However, the researcher has made certain vital recommendations for the consideration by management of Goldfields Ghana Limited, Tarkwa and other organizations in order to make its strategic sourcing more effective.

Keywords:  Strategic Sourcing, Procurement Sourcing, International Sourcing

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