The challenges of procurement process of ITS Labtest Bangladesh Ltd.

Abstract

The report titled “The Challenges of Procurement Process of ITS Labtest Bangladesh Ltd” is based on a study done on a renewed company called ITS Labtest Bangladesh Ltd, a company that started its operation in 2000 in Bangladesh. ITS Labtest has 130 years of history and it has been successfully doing its business in Bangladesh for the last 20 years. Procurement is one of the main departments of this company which is engaged in purchasing items. The department faces huge pressure and several challenges when purchasing products for the company. The objective of the report is to highlight the challenges faced in the process and provide solution to mitigate them. At first, the study discusses about the origin of the report, the objectives, methodology, scope and limitations of the report. It also mentions the history of the organization, its culture, vision, missions and objectives. The following part contains introduction of the procurement department, their activities and details about the procuring process. The most important part of the report is the survey data analysis and findings of the study. The survey was conducted through non-probability sampling (convenience sampling) on a sample size of 50 respondents. The results indicated the challenges of the process and highlighted the scopes of improvement. Finally, the report presented a detailed analysis of the challenges faced in procurement process. As a recommendation, steps to be taken to overcome those challenges are also described at the end of the report.