A STUDY OF IMPACT OF EFFECTIVE NEGOTIATION IN REALIZATION OF PROCUREMENT GOALS IN REDEEMER’S UNIVERSITY
Keywords:Effective Negotiation, Realization, Procurement, Cost-Saving, Procurement Goals
Private Universities in Nigeria have a relentless goal of keeping their procurement cost down as most of them depend solely on tution fees. In the past, companies would mostly look to make cost-savings from headcount reductions or internal re-organisation. Now they are increasingly turning to procurement and strategic sourcing as a means for cost reduction in procurement. The study examined the impact of effective negotiation in realization of procurement goals in Redeemer’s University. The research was conducted through the use of self-administered questionnaire to obtain primary data. The study had sample size of 206. Purposive sampling technique was used to select respondents that are involved in procurement for the University for the Study. Descriptive analysis and linear regression analysis were used in analyzing the obtained data. The results indicated that effective negotiation is a strong procurement strategy in Redeemer’s University and has a significant impact in realization of procurement goals. The study concluded that Redeemer’s University procurement goals are realizable with effective negotiation strategy.
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