₦airaland Forum

Nairalanders,

I have some concerns about the banking industry and how they conduct business especially as it concerns the procurement function,this is due to investors reaction to some banks second quater results,they seems to have bogus profit declaration without these book profits translating to dividends or investment growth especially with the crash in stock price across the capital market and the banks being terribly affected,no thanks to the margin loans wahala.

Procurement is the function that most organisation are turning to for help,not because it provides all the solution to an organisations problem but because procurement has a huge potential for savings that could help alleviate problems faced with the realities of global financial crisis that has dunned on our bankers despite guru Soludo promise that our banks are safe.

I do not have any experience in banking operations but there are associated activities in the banking value chain that portends huge savings potential,they are marketing(advertisements on all the media),Logistics(Fuel,Transportation etc),Power(Operations & Maintenance,other incidental services etc),Information Technology & Telecomunication,Manpower services,Security,, many more areas I may not know because i do not operate in this enviroment but nairalanders can help to identify more areas with potentials for savings.

What I have noticed is our bankers seem to be too corky and see no gains in procurement ,they know everything already and do not want to know more perhaps they see procurement as a rivalry profession.I discussed with some internal control guys in one of the new generation banks,they lack so much about the procurement knowledge that they think is just another fad and no thanks to the CBN that seems to also know everything about banking and nothing about any other thing,their control over the operation of these banks is terrible,I wondered how they could not realise that procurement issues even go beyond coperate strategy issues but also coperate governance as procurement dwells on due process.

There are loopholes of procurement fraud and conflict of interest issues that pervades the banking industry ,there are examples of directors with brothers and sisters and family members registered as suppliers which are being used as backdoor channel for reaping investors of their hard earned money,masquerading as suppliers who are awarded contracts that are not competitively tendered.

My advice to the entire banking sector stakeholder is to start looking for solutions in procurement,unfortunately due to their naivety of what procurement entails,they think it is like just buying an item in the market without taking a lot of things into consideration as in the purchasing cycle.Many also makes the mistake of restricting procurement to operational level planning,what I would suggest to the banking sector is to start focusing on cost leadership strategy through procurement and stop all the propaganda on the media which seems a fallout of differentiation strategy as investors fund is lost through this aggressive marketing that has not provided the solution at this critical period.

I would be posting this on another thread for some bankers to be able to contribute to this piece.

I was actually looking for any further info/reactions to oceanic results before I stumbled on this thread,like someone said maybe there is no smoke without fire afterall.

I am not making any conclusion on all I have read here nor on what I am posting,just make your own evaluation on d info at hand.

http://www.proshareng.com/news/singleNews.php?id=7293

Some investors comment on the published results:

[b]This result they are declearing it is for real becouse i see no reasons why after declearing all the huge profit at the end no bonus no dividend,yet they are making a hell of profit as they claims.i can remenber when last they give shareholders benefits.I just hope this one get to them so that they should stope giving us crap,and face reality for once

IS OCEANIC BANK A FAMILY BUSINESS OR A PUBLIC LIMIMITED COMPANY? I NEED CLARIFICATION ON THIS BECAUSE PURPORTED YIELDS PRESENTED ON THE NEWS PRINTS QUARTERS AFTER QUARTERS WERE NEVER TRANSFORMED INTO STOCKHOLDERS BENEFITS! FOR EXAMPLE, I PURCHASED UBA AND OCEANIC IPO ON THE SAME DATE, AND HAVE RECEIVED THREE (3) DIVIDENDS CUM TWO (2) BONUS SHARES FROM UBA, BUT TILL DATE, HAVE NOT RECEIVED ANY BENEFITS FROM MY INVESTMENT IN OCEANIC BANK PLC. THIS IS OUTRAGEOUS!! IT MAKES ME BELIEVE THAT THE MANAGEMENT IS REPEATEDLY PRESENTING COOKED BOOKS TO THE PUBLIC. I TEND TO BELIEVE TOO, THAT THE COMPANY IS ONE OF THE PURPORTED 'SICK' BANKS IN NIGERIA. IF THIS IS TRUE, SHAREHOLDERS SHOULD WASTE NO TIME IN GETTING THE BANK MERGED WITH ONE OF THE PROFIT-ORIENTED AND 'CLEAN-HAND' BANKS IN NIGERIA, SUCH LIKE: FIRSTBANK, UBA, OR UBN. IN THE ALTERNATIVE, WE SHOULD GIVE IT UP FOR GRAB TO FOREIGN INVESTORS. IT HAS BEEN SHAME TO THE MANAGEMENT OF OCEANIC BANK ALL THE WAY AND SHAMEFACEDLY, SHOULD ALL BE SACKED WITH IGNOMINY[/b]

@ datriplea, call maxwell in Lagos  on 08030753081.Tell him you are from the guy in PH.

Check the thread on Logistics Or Supply Chain Management where i made a comparison of the two institutions.

www.nairaland.com/nigeria/topic-7497.96.html

What any sales rep may ask is if any of these KPIs were actually agreed as you know very well that the same economic condition in Nigeria has led them to accept your T & C because they may risk biz opportunities if they counter-offer your T & C.

The basis is dat organisations(buyers) T & C are mostly imposed on the vendors and I can assure you that they will agree wit your offers as they know they are in competition with other vendors,the issues after the award of contracts becomes 'when we get to that bridge we shall cross it' and the obvious reason they will whip sentiments of the Nigerian operating environment once they have challenges of meeting your imposed targets.

It has always been said most time,a collaborative approach with vendors is the best approach to outsourcing and it goes beyond T & C and KPI,it involves collaboration with your vendors as a partner, its a problem solving approach,involves transparency of processes across both org and the risks are obvious and may be too much of a risk depending on the risk appetite of such organisation.e.g ,intellectual property risk,so called partner may become a competitor if empowered with trade secrets.

Some of the reasons above suggest why organisations(buyers) work with vendors at arm`s length only engaging with them on  transactional basis and nothing beyond that ,I mean T & C and KPIs,but contractor performance just goes beyond that.

bhaalu:
Hello. The in thing now in career development is the PMP. You can join us for Project Management training in ph. Visit www.projectexpertiseltd.com for more info.

Your statement about PM is sure and the earlier young graduates take up this skill the better, my application was selected for audit on tuesday but I still hope to get certified this year.

For those interested in rapid career development,there are lots of emerging skills in the modern business enviroment that are gaining a lot of popularity e.g supply chain management,customer relationship management(CRM),Business Analysis etc. For your information ,you do not have to be a graduate to embark on this venture as most of this certification programs have entry point for any level of academic achievement.While you are still a student,it would not be a bad idea to start on this program as most employer has realized the competitive adventage it presents for them within the global business enviroment.


@Bhaalu ,thanks a lot for your contribution I did check out your webpage.Please do give us updates on your programs.

Cheers.

Hi guys,

You people sure know how to make a cemetary silence out of a good idea abi na dumb one? I defer cause I have seen thousands of replies on the dumbest ideas on this forum, like what is the Yoruba translation of a foolish person(no grudges).

So far all I got was 36 views and 36 snubs, no hi five ,no thumbs up!!!! Guys give me a break,I need this info fast and I know this answer many career-related questions asked by nairalanders on the career Talk threads.

Its ok, if no one gives any advise ,at least I was able to realize d impact of the Niger-Delta struggle on such activities in Port-Harcourt,most adverts I have seen latety under this category shows events venue for Lag & Abj but PH naada!

Its not to mean that such activities are not on-going in PH,I have found out some institutions engaged in this activities and hence re-strategize to cover all the cities in Naija in my next post which would read career/self development events.

Keep your fingers crossed and at least post an 'hiss' so I know that I have the dumbest idea on Nairaland.

Nairalanders,

I need to know about upcoming career or self development events in Port-Harcourt and I realized many people here in PH might have similar need so I sent this post for those who may need such information or those who may be organizing such events and would like to reach out to their target audience.


Whenever I glean such info in any medium,TV,Magazine,Radio,Internet, etc I will be posting it here.

Cheers.

One new thing in My firm is Demand Management Strategy.

In E & P, there are thousands of activities dat culminates to production of crude Oil and as a result you can imagine the multitude of vendors and categories of services expected to be managed by the SCM function.

Managing vendors and services categories is a complex process,it involves the entire tendering process prior to award of contract,the management of the contracts post-award and the related vendor relationship management.

If you do this for hundreds of thousand of vendors,you can imagine the thread of tasks involved for the entire contract life-cycle management.

What demand management achieve is simplify and standardise the entire contract life-cycle mgt through various plans and tactics to manage user requests,just to mention one of such tactics, consortium contracting pull together services of similar categories within a user function e.g logistics in order to simplify specifications and standardise service,at the long run and this would achieve savings that would directly impact the organizations bottom line.

If you don't understand my explanations please ask questions.

uckings:
I am a new member on this forum and very much interested in the SCM.please are there updates on this

I am sure most of us are involved in SCM related functions within our organisations and in other for us to learn new things within the function across industries I would suggest we just drop a note on the lastest SCM practice within our firm and value/benefits to your organisation in achieving its biz objectives

You will agree with me that SCM function is a transferable skill within the industries; just mention it,the Oil & Gas,Manufacturing ,Third Party Logistics,Banking,Projects,Mining,Hospitality etc.We can share this practices with fellow nairalanders hoping to learn a new thing or perhaps solve SCM related problems being SCM consultants within our various industries.

I`ll will start with myself in the next thread.

@ biliamin,

If you need acess to materials/past questions on CIPS website just go on with d registration @ British Council,I would send the registration form to your mail.

For online prep through accenture SUPPLY CHAIN ACADEMY,visit www.supplychainacademy.com,requires registration.I dnt know how much it cost cause I got acess tru my employer.

For Study Guides and assistance as to what level to commence certification,call AKWA CONSULTING Mr Victor 08033187121,its the CIPS registered exam prep center in Nigeria somwhere around Borno way @ ALAGOMEJI.

Goodluck.

@ Sil,

I feel your pain I know somehow one or two ppl have been in dat position,I taught @ a community primary sch in d creeks of Nembe in Bayelsa, definitely the kids mst be far away from the reality of civilisation if not for TVs sorry for d digression I just think you must be lucky to be teaching on a campus.

I was once employed to to teach in MAPOLY Mech Engr Department after youth service,it never was in anyway different, safe for d different person I was, the other lecturers were already complaining abt my boring past time of reading whenever there was an allowance, of course they engage in chit chat most time.

I actually had a project in plan for online exam preps @ time, and I gues it engaged me alot before I finally left, bottomline get yourself engaged in something you have passions for even though it might not be related to school work.

On your disppointments,

The country has been churning out graduates and school leavers that knows next to nothing abt what they are into,I mean its high time the education policy changed and accomodate pure lessons in creative ventures , the sports are suffering,technicians are still learning on d streets probably having wasted time in school doing nothing but attending formal classes that has nothing to do with vocations.

I mean its ugly, the same scenario is playing out in the goverment, ppl dat got nothing to do or has no clue what governance is about are @ d helm of affairs, u know wat they bandwagon effect,majority are there to make dirty money, the objective of governance has bn thrown on the street just like pure water bags on our street make a lot mess.


U know what? Just form your government i.e do ur own thing,I am a capitalist and right now I think dis is wat dis countr needs.

I`m sure seun is already doing that, peace.

need.

I be Yoruba but had my youth service at Obioku Village in Nembe L/G.


I hear them say fela tio! whenever they are hungry

Bo late for welcome

Teyo fete , come eat!

Hope I got it right.

What about Afori ,Eleribu,,Apoda,Onirase,Oniranu,Oni aba ta ka fi ratupa(person wey dem suppose sell buy lantern), my memory de fail me!

My Geography teacher one asked the class this familiar question during my secondary school days,what is d yoruba bible translation of a foolish person, I was proud to answer the question.

Ashiwere

Your wiki is not complete without this.

@Biliamin,

Its a good question u asked and I would say it all depends on your career objectives which may be

Purchasing Certification Short Term Objective CIPSM
Career development Long Term Objective CIPS
Professional Networking Long Term CIPS/CIPSM
Career Mobility Mid Term CIPS
International Recognition Long term CIPS

If I heard u well, u have an HND and presently practice as a purchaing officer so I would assume all of the stated objectives apply to you.

I could have gone ahead to rate both qualification on each objective but want to keep it brief, but I hope u understand that as an entrant CIPSM may give u a leverage as a one-off qualification but as earlier mentioned by wills,on a long term you have more to gain with CIPS qualification.

I have been on both side,I am a member of both but I got considered for international opportunities not until when my profile started reading CIPS qualifications being an international standard across d globe both in africa,europe and asia.

I get invited for conferences across the globe and have opportunity of meeting professionals from different countries, need I tell you more.

If your immediate objective is certification and your endurance both financial & duration wise is not much then proceed but if you have the strenght for CIPS then jump at it noting that CIPS certification automatically qualifies u to register as a member with CIPSM.

Cheers.

Its hard to tell what you shld do if u havent taking inventory of your talent,what makes u different from others,we were already packaged before we came,when u were young ppl around u always observed something that is different and unique about u, thats what u need to know to make a decision.

Our education only made matter worse,cause at elementary level we were not given the chance to learn what we like nor was any system in place to allow the development of special talent.Everyone either study maths ,english, and wat have u, I mean just imagine Julius Agwu started with comedy in secondary school, as u may know he has a degree ,though it did make a difference but comedy was a talent that was personnally developed by him that earned him so much than he bargained for,I mean just imagine he went searching for jobs based on his degree, he would have shortchanged himself earning some paltry and begging for raise and promotion but now i think he may be at liberty to determine wat he earns with a lot of freedom.


I am posing that challenge to you,forget about what next degree u need to obtain to move up d food chain,because all u need to do is discover yourself and engage in personal development along your natural skills (ur talent) and you will be the most fulfilled man on earth.


Think through.

Anyone interested in studying for certification through CIPS should approach British Council for registration and Exams.

I work with one of d Oil majors though have several challenges as a contract staff,I am fortunate to be an SAP user as hardly does any contract staff have d access in my department.

I currently have certifications at level 5 with CIPS but through self study and exams were written @ British council, start now so u can register for May exam in 09 as exams are written only twice in Nigeria,May & November, am willing to help anyone through the certification process bu I am in PH.

I studied Mech Engr, but I tell u, I am most fulfilled because SCM or whatever u call it is tied to Manufacturing which is my chosen specialty in Engineering.

Cheers.