Our Internal Auditor South Africa Blog News

Published Sep 30, 20
6 min read

Find International Accounting Standards South African

The sequential mixed method was utilized in this research study. This method includes either a quantitative and qualitative (quant-qual) study or a qualitative and quantitative (qual-quant) research study. Combined technique research studies present a practical world view. With this approach varied kinds of information are collected which cause an understanding of the research study issue (Creswell 2009:18): The quant-qual research study starts with a broad survey in order to generalise results to a population and after that, in a second stage, concentrates on qualitative, open-ended interviews to collect detailed views from participants.

To adapt the survey material for the qualitative study, the products (or concerns) in the questionnaire were categorised by the researchers to form the styles or topics for the focus group conversations. A 3rd component in the form of offered literature of mainly supply chain industry associated reports and magazines were integrated to compare the findings.

Our Internal Auditor South AfricaNumber One Auditors South Africa

The SASC members consist of primarily big cargo owners and logistics service companies in South Africa. (Cargo owners are associated with logistics activities for their own goods [freight], and the provider provide logistics services to other organisations.) These cargo owners and service companies are confronted daily with difficulties in business environment that influence their efficiency, effectiveness, customer support and eventually the competitiveness of the entire supply chain (Badenhorst-Weiss & Waugh 2014:285).

Nineteen (19) organisation environment threat aspects were recognized and included in the survey. The questionnaire was discussed with the scientists and a statistical specialist and improved a number of times before finalisation and was evaluated to ensure the credibility of the instrument. The survey was conducted in 2013 among members of the SASC, the Chartered Institute of Logistics and Transport in South Africa (CILTSA) and the Transport Forum (Badenhorst-Weiss & Waugh 2014:285).

Follow-up e-mails were sent to increase the low action rate. Due to rigorous research study principles guidelines at the institution the researchers are connected to, the researchers could not utilize methods such as more emails, putting pressure on the individuals to react or use rewards to increase the response rate. Therefore, unfortunately, only 51 usable responses were gotten.

Number One Legal South Africa

Despite the low response rate and the resultant bias it was chosen to continue with the recording of the information, given that the findings of the survey formed only one of the inputs to the research study. The completed questionnaires were looked for disparities and omissions and the recorded data was processed and evaluated utilizing SPSS (Badenhorst-Weiss & Waugh 2014:285).

Naslund (2002) stated that logistics researchers also need to do qualitative research studies: 'Moreover, if we truly want to establish logistics, to develop brand-new theories and concepts, then we need to question our paradigms, methodologies and choice of approaches.' The qualitative research study was conducted by means of a focus group discussion - Our Compliance South African.

A focus group is specified by Cooper and Schindler (2008) as: [t] he synchronised involvement of a small number of research study participants (normally 8 to 10) who connect at the direction of a mediator to create data on a specific issue or subject, widely utilized in explorative research studies and usually last 90 minutes to two hours (Browse for south african banks nearby).

704) According to Cooper and Schindler (2011:162), the sample style of a qualitative study can be non-probability or purposive and the sample size little. With non-probability or purposive sampling not all the individuals in the population will get an equal opportunity to be picked (Zikmund et al. 2013:392). This indicates that scientists have the freedom to select participants subjectively, that is, each member of the population does not have a known opportunity of being included (Cooper & Schindler 2008:379). "But because the knock-on effect is felt in multiple layers in the supply chain, I think there'll be quite a bit of Tier 1 to Tier 3 supplier mapping post-COVID." As soon as producing companies have done the mapping, it may be clear that they're too dependent on specific suppliers or particular regions.

( It's just like consumers might have a back-up shop to get products they require.) "As COVID-19 began to rear its unsightly head, we began to feel the effect locally due to the fact that of the physical stock that was coming out of the Far East," Linnell says. "That was a recognized risk that started to affect the supply chains for a great deal of companies in South Africa.

Find Chartered Accountants Africa

So that was one of the strategies." Under normal circumstances, it requires time for producing companies to onboard brand-new vendors. However worldwide of COVID-19, some companies were so desperate to get stock that they were partnering with providers that put them at threat. In some cases, there was negligence that triggered quality assurance issues or straight-out scams that cost companies (and federal governments) millions.

" For a few of the pharmaceutical business, there's clearly been a huge need for materials (masks, ventilators, and so on). But they could not keep up with the need for what was needed so they were searching for multiple providers all over the location. Regrettably, breakdowns in the procurement procedures were inescapable." To avoid this sort of interruption during the COVID-19 pandemic, making business ought to do more detailed research study into their suppliers.

It has to do with understanding who your suppliers are, what services or products they supply, and how dependent you are on them. As soon as you've 'run the risk of rated' them, you can put mitigating controls in place. "Take a look at different methods for your various providers based upon items, services, and threat direct exposure," Linnell states. "If it's an important single source supplier in other words, I can only get a component from them and not from anybody else then normally we put in location service level arrangement stipulations that specify that the supplier needs to make an alternate strategy to guarantee services to the organisation.

Once they've provided that details, we can understand the broader impact." If a provider can't satisfy their contract, due to COVID-19 or any other factor, it is very important to know this. Regrettably, many manufacturing companies have a concern with reporting. They may register an incident however not be able to totally understand how it affects the entire service (View our accounting firms in johannesburg near me) (Find chartered accountants South Africa).

" For example, if a producing company has a raw product concern, it tends to remain in that department. It does not get aggregated up or intensified as a danger. Worse, business are reverting to archaic Excel-based reporting when they must be using more innovative supply chain mapping software that can illustrate the interdependencies." Certainly, with all the improvements in innovation from huge data and expert system to sophisticated analytics and the ' Web of Things' now is a good time for companies to discover the new tools that could make things much easier throughout COVID-19 and beyond.