INFLUENCE OF PROCUREMENT PROCEDURES ON THE OPERATION OF BANKS IN KENYA: A CASE FIRST COMMUNITY BAND, WAJIR BRANCH
Abstract
The process of procurement usually begins when the procurer starts to search the market for bidders. After identifying the suppliers, a request for bids, proposals, quotes, and information can be made. However, direct contact with bidders can also be made instead of advertising the above requests. After selecting the suitable bidders, a quality check is essential in order to confirm the suitability of the goods in question. The next step would be negotiation of the terms, conditions, quality, and delivery schedules. Logistics and payment are the next two important processes that determine the safe delivery and the payoff of goods. The objective of the study was to investigate the influence of procurement procedures on Performance of Banks in Kenya. The methodology used involved descriptive research design seeking to explore the procurement practices in First Community bank. The study targeted 25 employees who were employed in the procurement department. Primary data was collected using structured questionnaires. Data was then analyzed and presented using tables and graphs to provide a clear understanding. From the study, the researcher found that First Community Bank needed to carefully improve its procurement system so as to face the challenges and become more efficient. The study also recommended that there should be more coordination between the senior staff and other employees so as to develop proper support between the management and other staffs.
Key Words: Regulations, Technology, Procurement Procedures, First Community Bank
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DOI: http://dx.doi.org/10.61426/sjbcm.v3i4.355
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