INFLUENCE OF INVENTORY AUDITS ON THE PROCUREMENT PERFORMANCE OF BUTALI SUGAR MILLS LIMITED
Abstract
This objective of this study was to assess the influence of Inventory audits on the Procurement performance of Butali Sugar Mills Limited. The study adopted a descriptive survey research design. The study targeted 250 employees from five departments of Butali Sugar Mills Limited; procurement staff, internal auditors, agriculture staff, transport and factory staff. Simple random sampling technique was used. Questionnaires were used as data collection instruments. Data analysis and interpretation was based on descriptive statistics and also inferential statistics using SPSS software. The study used questionnaires as the primary data collection method. Descriptive and inferential statistics were be used in analyzing data. The study concluded that inventory audit has significant influence on procurement performance of Butali Sugar Mills Limited. The study recommended that the company need to establish inventory control policy which is well known by the staff. This would increase the accountability and transparency on the employees working in procurement department. Further, there should be continuous internal audits carried out to enhance reduction of costs.
Key Words: Inventory Audits, Procurement
CITATION: Ogot, G. A., & Juma, D. (2021). Influence of inventory audits on the procurement performance of Butali Sugar Mills Limited. The Strategic Journal of Business & Change Management, 8 (4), 167 – 178.
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DOI: http://dx.doi.org/10.61426/sjbcm.v8i4.2093
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