Assessing the Efficiency of Procurement Processes in Manufacturing Companies at Nagpur-MH
Amitabh Bapat & Dr. Aniruddha Bodhankar
Abstract:
The complete process by which businesses obtain goods and services to satisfy their demands is referred to as the procurement process in manufacturing companies. This procedure guarantees that businesses can obtain the required resources effectively and economically is essential to business operations. The complexity of the needs, the platforms being used, the procurement method, and the responsiveness of providers are the variables that affect how long the procurement process takes. For decades, practitioners, scholars, and researchers have paid close attention to procurement performance because of poor performance caused by a lack of respect for proper processes and procedures. The subject of this study is the effectiveness of procurement procedures in manufacturing firms in Nagpur, Maharashtra, an area known for its quick industrial development and strategic significance in India’s supply chain network. The synchronization of owners’ strategic vision, managers’ operational oversight, and employees’ process execution are crucial for evaluating procurement efficiency in Nagpur’s manufacturing companies. Their combined efforts promote a simplified procurement process that improves supply chain resilience and cost-effectiveness in the corporate sector. Understanding that preserving competitive advantage depends on procurement efficiency, the study examines important procurement performance indicators, pinpoints common problems, and assesses risk management tactics in this industry. Tata-AiRbus Project was migrated to Vadodara, Gujarat due to political instability in Maharashtra. Similarly, Bulk Drug Park and Medical Device Park migrated to Orissa due to delayed approvals and inadequate follow-up by Maharashtra’s administration. The results show that a variety of factors, such as supplier delays, pricing volatility, and logistical challenges exacerbated by current global supply chain disruptions, affect the effectiveness of procurement. The study aims to provide a more robust procurement strategy that is in line with the changing needs of Maharashtra’s manufacturing industry.
Keywords:- Procurement Efficiency, Manufacturing companies, Nagpur-Maharashtra, Supply Chain, Risk Management, Procurement Challenges, Global Supply Chain, geopolitical tensions.
DOI link – https://doi.org/10.69758/GIMRJ/2412IV01V12P0010
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