Abstract: Risk management strategies are measures adopted by firms to reduce severity of unplanned events within their operational environments. This study analysed the relationship between procurement risk management strategies and procurement performance of sugar manufacturing firms in Kenya. The results of this study provide useful insight that could influence sugar firms’ risk management strategies and performance management policies. Data were collected using self-administered survey questionnaires from 45 middle level management employees at the sugar firms in Kenya. The study was a census. Quantitative data analyses, which included descriptive, reliability, and regression analyses were performed. At 0.01 level, the results of the correlational analysis indicated that there was a significant positive correlation of 0.415 between procurement risk management strategies and procurement performance. The study concludes that the management of sugar firms in Kenya should formulate policies on procurement risk management strategies that would otherwise improve their overall performance.
Keywords: Risk Management; Risk Management Strategy, Procurement Risk Management Strategies; Procurement Performance.
Title: RELATIONSHIP BETWEEN PROCUREMENT RISK MANAGEMENT STRATEGIES AND PROCUREMENT PERFORMANCE OF SUGAR FIRMS IN KENYA
Author: Ondore J. Owuor, Dr. Johnmark Obura, Dr. Alphonce J. Odondo
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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