Working capital management practices and procurement function in STANFILCO - a division of DOLE Philippines, Inc.

Abstract

This study aims to recognize the significant relationship between the working capital management practices and procurement function in Stanfilco - A Division of Dole Philippines, Inc. 15 procurement staffs in Stanfilco were the respondents of this research. The researchers used purposive sampling technique in determining the number of respondents. The statistical tools used were mean and person-r. The results revealed that the level of working capital management practices in Stanfilco in terms of cash management, debtor management, stock management, creditor management was very high and yielded an overall mean of 4.51. For the level of procurement function in Stanfilco in terms of organizational process, organizational resources, skills development, information technology, procurement effectiveness (Organizational Performance) was yielded as very high level with an overall mean of 4.58. Furthermore, it was found out that there was a positive significant relationship between working capital management practices and procurement function in Stanfico - A Division of Dole Philippines, Inc. with a p-value 0.00 of and r-value 0.911 which was less than 0.05 level of significance, therefore, the null hypothesis (ho) is rejected.