IMPACT OF PURCHASING STRATEGIES ON ORGANIZATIONAL GROWTH PZ INDUSTRIAL PLC
1.1 BACKGROUND OF THE STUDY
The Nigeria economy got in power till 1986 a highly regulated economy with local, state and federal government owing a large value proportion of the national economy.
However, with the introduction of Structural Adjustment Programme (SAP) in August 1986. The national economy was deregulated and most of the control were abolished while the price mechanisms system or the market force system was introduced to determine the price of goods and services. Before the introduction of the Structural Adjustment Programme (SAP), the purchasing industry, like other sector of the economy was owned largely and controlled by the government.
The sector was dominated by those referred to as the Big four i.e. Intercontinental Company, Africompany, UBA and First Company. However with deregulation of the economy brought about the Structural Adjustment Programme (SAP), many private participants entered the industry. The competition brought by those company offered some basic services some of the service offered by company are receiving deposit of customers, collecting cheques of customers drawn on themselves. From this traditional function developed other services referred to as services purchasing. It is a related purchasing services and now purchasing activities.
A list of services offered by company include acceptance and safe keeping of deposits and other valuable, granting of loans and overdraft to customers, transfer of funds business services foreign exchange services, money creation, cashing credit facility, project financing service funds transfer outside and within Nigeria, letter of credit and foreign currency domiciliary account etc.
Finally, these services benefit both the provide (Company and the receive customers) as well as the economy without them company cannot be in business and the economy will not grow individuals and corporate activities will also be hampered. It is based on these facts that company services become very vital even before the advent of modern purchasing activities.
Paterson Zochoms (PZ) industries limited was incorporated on 4th December 1948, under the name of P.M Nicholas and company limited to take over the soap making activities of Mr. P.B. Nicholas who had some years prior to that data established a factory for that purpose.
Paterson Zochoms itself was incorporated in England in 1884, become a public company quoted in the London and Northern is that o general merchants in activity is that of interest now includes city in Nigeria, Ghana, sierra Leona and textile whole selling in the united kingdom.
In 1957, Mr P.B. Nicholas sold out his interest in the company to P.Z, two years later the company change it name to Alaghon industries limited, and in 1960 adopted the name associated industries 1976, the company change its name to Paterson Zochoms industries limited.
After incorporation in 1948, new factory buildings were erected and modern soap making equipment installed at Aba.
During the years 1967 to 1970, manufacturing operation at the Aba factory was disrupted, and in consequence the company operated in vented premises in Lagos, a factory which enabled it to its customers. The manufacturing buif and equipped factory premises near Logos. The company’s range of products include bar soap and tablet soap perfumery. Cosmetics, confectionery medicaments and pharmaceuticals, all which are distributed throughout Nigeria with butter stock held at strategic centers. The company (P.Z) is well known through its Duck, premier and joy soaps, Rubb ointment, mint super mint pomade, jet hair cream, Venus de Milo rage of cosmetics, Danfulani pomade, Elephant, Apc etc.
All these categories of product must be sold to enable organization attain its objectives that has already been set. It is when consumers are happy with the organization can make the employee happy. The big question therefore is can public relation serve effective as an instrument for attaining the entire corporate objective.