My International Accounting Standard South Africa Blogposts

Published Sep 16, 20
6 min read

Find Management Accounting South Africa

The sequential blended approach was used in this research study. This method consists of either a quantitative and qualitative (quant-qual) research study or a qualitative and quantitative (qual-quant) research study. Mixed approach research studies present a practical world view. With this method varied types of data are collected which result in an understanding of the research problem (Creswell 2009:18): The quant-qual research study begins with a broad survey in order to generalise outcomes to a population and then, in a 2nd phase, concentrates on qualitative, open-ended interviews to gather comprehensive views from individuals.

To adjust the survey content for the qualitative study, the products (or questions) in the survey were categorised by the scientists to form the styles or subjects for the focus group discussions. A third element in the type of readily available literature of primarily supply chain market associated reports and magazines were integrated to compare the findings.

My South African Banks South AfricanMy Tax Services South African

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

Nineteen (19) company environment threat aspects were recognized and consisted of in the questionnaire. The questionnaire was gone over with the scientists and an analytical consultant and improved a number of times prior to finalisation and was tested to make sure the credibility of the instrument. The study was carried out 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 emails were sent out to increase the low reaction rate. Due to rigorous research study ethics guidelines at the organization the scientists are connected to, the researchers might not use methods such as further emails, putting pressure on the people to respond or use incentives to increase the response rate. For that reason, unfortunately, just 51 functional responses were gotten.

Number One Risk Management South African

Despite the low reaction rate and the resultant predisposition it was chosen to continue with the recording of the data, because the findings of the study formed just one of the inputs to the research study. The completed surveys were looked for disparities and omissions and the caught information was processed and evaluated utilizing SPSS (Badenhorst-Weiss & Waugh 2014:285).

Naslund (2002) specified that logistics researchers also require to do qualitative studies: 'Furthermore, if we really want to develop logistics, to develop brand-new theories and ideas, then we need to question our paradigms, methodologies and option of techniques.' The qualitative study was performed by means of a focus group discussion - Find Talent Management South Africa.

A focus group is specified by Cooper and Schindler (2008) as: [t] he simultaneous participation of a little number of research study participants (generally 8 to 10) who interact at the direction of a mediator to produce data on a particular problem or topic, widely utilized in explorative research studies and normally last 90 minutes to 2 hours (Search for accounting service near me).

704) According to Cooper and Schindler (2011:162), the sample design of a qualitative research 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 chance to be selected (Zikmund et al. 2013:392). This implies that researchers have the flexibility to choose participants subjectively, that is, each member of the population does not have a recognized chance of being included (Cooper & Schindler 2008:379). "But due to the fact that the knock-on effect is felt in numerous layers in the supply chain, I believe there'll be quite a bit of Tier 1 to Tier 3 provider mapping post-COVID." Once making companies have actually done the mapping, it may be clear that they're too reliant on specific suppliers or specific regions.

( It's just like customers might have a back-up shop to get items they need.) "As COVID-19 began to rear its awful head, we began to feel the effect in your area because of the physical stock that was coming out of the Far East," Linnell says. "That was a known threat that started to affect the supply chains for a lot of companies in South Africa.

Find Auditors South Africa

So that was among the methods." Under regular circumstances, it requires time for making companies to onboard brand-new suppliers. But in the world of COVID-19, some business were so desperate to get stock that they were partnering with providers that put them at risk. In some cases, there was carelessness that triggered quality control issues or outright scams that cost companies (and federal governments) millions.

" For a few of the pharmaceutical companies, there's undoubtedly been a huge demand for materials (masks, ventilators, and so on). However they could not stay up to date with the need for what was required so they were searching for multiple providers all over the place. Sadly, breakdowns in the procurement procedures were unavoidable." To prevent this type of disruption throughout the COVID-19 pandemic, manufacturing business ought to do more detailed research into their providers.

It's about understanding who your suppliers are, what service or products they provide, and how dependent you are on them. When you've 'risk rated' them, you can put mitigating controls in location. "Look at different techniques for your various providers based on items, services, and risk direct exposure," Linnell states. "If it's a critical single source provider to put it simply, I can only get an element from them and not from anybody else then generally we put in location service level contract stipulations that state that the supplier needs to make an alternate strategy to guarantee services to the organisation.

Once they've supplied that information, we can understand the broader effect." If a provider can't meet their agreement, due to COVID-19 or any other factor, it is essential to understand this. Regrettably, many manufacturing companies have an issue with reporting. They may register an incident but not have the ability to fully comprehend how it affects the whole organisation (View our accounting firm near you) (My tax practitioner South African).

" For example, if a producing company has a basic material concern, it tends to remain in that department. It doesn't get aggregated up or escalated as a danger. Worse, companies are reverting to antiquated Excel-based reporting when they need to be using advanced supply chain mapping software that can portray the interdependencies." Certainly, with all the advancements in innovation from huge data and artificial intelligence to innovative analytics and the ' Internet of Things' now is an excellent time for business to discover about the new tools that could make things easier during COVID-19 and beyond.