ASSESSING THE TIMELINESS OF PROCUREMENT PLAN APPROVAL FOR EFFICIENT PROCUREMENT PRACTICES. A CASE STUDY OF KOFORIDUA TECHNICAL UNIVERSITY.

Abstract

The study’s objectives were to assess the factors that pose challenges to drafting of procurement plan at Koforidua Technical University, to assess the benefits of ensuring timely drafting of procurement plan on procurement activities of Koforidua Technical University, and to identify how untimely approval of procurement plan affects procurement activities at Koforidua Technical University. The researchers adopted the purposive sampling technique with a sample size of 44 from a total population of 50 staff from the procurement and stores department of Koforidua Technical University. The researchers used closed-ended questionnaires in gathering data from respondents. It emerged from the study that, the researchers found out that the factors that pose as challenges when drafting procurement plan at Koforidua Technical University. It was revealed that, the factors included; delays in the release of funds for the progress of various acquisition within the organization as well as inadequate oversight and administration of contract throughout their lifecycle. The study revealed that, ensuring timely drafting and approval of procurement plan has numerous benefits it brings to procurement activities. These benefits include; the ability of the procurement entity to save time and money and it acts as a conduit for attaining the goals of the procurement entity. The study again revealed that, untimely approval of procurement plan causes significant delays in procurement process of the university. The researchers also found out that, untimely approval of procurement plan disrupts operational schedules and project timeline, increased risks in supply chain activities and risk of stock out is as a result of untimely approval of procurement plan. The researchers recommended that, since the Public Procurement Authority mandates that all government institutions submit their procurement plans by November 30 of each year, the needs for the next year are received as early as possible to provide the procurement department enough time to prepare the plan.