| dc.description.abstract | Procurement is the acquisition of goods and/or services at the best possible total cost of ownership, in the right quality and quantity, at the right time, in the right place and from the right source for the direct benefit or use of corporations, individuals, or even governments. Simple procurement may involve nothing more than repeat purchasing. The study sought to establish the effects of public procurement procedures on the financial performance of farmers’ cooperative societies in Kiambu County. In specific, it sought to determine the effect of professionalism, financial management, records management and response time in the implementation of public procurement procedures on financial performance of profit making farmers’ cooperative societies in Kiambu County. The target population was stratified into farmers’ Cooperative Societies, which formed 10 strata. In each stratum, the study used simple random sampling technique in coming up with a sample of 3 employees from procurement department from each firm. This study utilized a questionnaire to collect primary data and analyzed through descriptive statistics.
From the findings, professionalism in implementation of public procurement procedures ensures assessment of the procurement procedures in profit making farmers’ cooperative societies in Kiambu County. On financial management, majority of the profit making farmers’ cooperative societies faces difficulties in decision-making process leading to lost opportunities for financial growth. From the findings most of the cooperative societies experiences challenges in securing record and data. The study recommends that profit making farmers’ cooperative societies in Kiambu County should ensure proper competitive recruitment of the procurement personnel. This will enhance professionalism in public procurement procedures. The study recommends proper adoption of response rate strategies, which incorporates technology. Response time in procurement in consideration to competitive environment includes lower procurement costs, faster cycle times, reduced maverick or unauthorized buying, more highly organized information, and tighter integration of the procurement function with key back-office systems | en |
