A STUDY ON EFFECTIVENESS OF PROCUREMENT IN MANUFACTURING SECTOR
Keywords:
Procurement Effectiveness, Supply Chain, Vendor Management, Cost Efficiency, Alloysys Extrusion.Abstract
This project, titled “A Study on Effectiveness of Procurement” explores efficient procurement methods and supply chain management. It examines the production process, inventory management, dealer incentive schemes, dealer relationships, and order response efficiency. The study is limited to Manufacturing sector and aims to evaluate indent processes, vendor relationships, and dealer retention strategies. It provides insights into inventory control and payment modes. The company, a leading pig iron manufacturer, has a structured management hierarchy. Suppliers maintain strong relationships but rely on traditional communication methods. Educating them on modern systems like online orders and emails is crucial. The purchase department’s strong negotiation skills contribute to optimal business growth.
