Examining the influence of supply management innovativeness on sustainability performance and financial performance of agribusiness enterprises in Kumasi metropolis.

Supply management innovativeness is critically important to agribusinesses as they operate in a highly dynamic and competitive environment, where factors such as weather patterns, supply chain disruptions, and changing consumer preferences can have a significant impact on their operations. By developing and deploying innovative supply management practices, agribusinesses can better respond to these challenges and improve their operational efficiency and effectiveness. The overall objective of this study was to examine the influence of supply management innovativeness on sustainability performance and financial performance of Agribusiness enterprises in Kumasi Metropolis. The quantitative research approach is used in this study. The survey is judged appropriate because this research is primarily quantitative in nature and also seeks to describe the agribusiness industry using a few agribusinesses. Due to the sensitive nature of the data they control, this research will only employ convenience sampling to recruit senior and middle management from agricultural companies. The researcher settled on a sample size of 110 agribusiness top and middle managers. Data was processed systematically by choosing, classifying, comparing, synthesizing, and analyzing raw data after it was collected to offer explanation and meaning. After being filled out, edited, and categorized, the questionnaires were imported into SPSS 23. In order to filter and remove disinterested replies, preliminary data analysis was performed. The data's demographic answers were also evaluated using descriptive methods. The connection between the dependent and independent variables was then determined by use of regression analysis. The study found that the practices include “satisfying customers through supply management innovativeness”, “using supply management innovativeness to achieve competitive advantage over competitors”, “adaptation of technological innovativeness”, “innovating to influence market share”, “reducing operational risk through technological innovativeness”, and “using their innovative consciousness to compete in the market”. The analysis also showed that supply management innovativeness has a positive and significant influence on sustainability performance of Agribusinesses in Kumasi Metropolis. Finally, the findings show that supply management innovativeness has a positive and significant influence on the financial performance of agribusinesses in Kumasi Metropolis. Based on the above, the study among other factors recommended that Agribusiness managers should focus on building strategic partnerships with suppliers and other stakeholders. This could involve working closely with suppliers to identify opportunities for cost reduction and value creation, and collaborating with other organizations to develop new markets and expand the customer base. For future studies, it also recommended that future studies should try and broaden the scope of this study to cover other agribusinesses in other municipality in order to ensure that a more generalizable finding could be obtained.

Source: KNUST