Effects of Supplier Relationship Management on Procurement Performance at Tanzania Commercial Bank Plc in Dar Es Salaam, Tanzania.

Abstract

This research assessed the impact of Supplier Relationship Management (SRM) on the procurement performance within the Tanzania Commercial Bank PLC (TCB) at its headquarters. Employing a mixed-methods approach, the study utilized both qualitative and quantitative analyses to provide a comprehensive evaluation. Through a cross-sectional design and stratified sampling method, data were collected from 80 respondents across various TCB departments. Questionnaires and interviews facilitated the data collection process. The analysis methods involved a combination of regression analysis and hypothesis testing to determine the relationship between SRM and procurement performance. The study's findings demonstrated a statistically significant positive influence of SRM on the procurement performance at TCB, as evidenced by a standardized coefficient of 0.137 and a p-value of 0.028. Additionally, the research identified certain factors, including trust and common goals that negatively affected SRM adoption. Notably, performance monitoring emerged as an effective strategy to improve SRM, at the Bank. The study's conclusion emphasized the positive impact of effectively implementing the SRM practices on the procurement performance. In the light of the conclusion, the study recommends a comprehensive review of TCB's SRM strategies and factors influencing the SRM adoption. This research significantly contributes to enhancing SRM practices and supplier relationships within the banking sector, offering valuable insights for TCB and similar organizations.