AN ECONOMIC COMPARATIVE ANALYSIS OF EQUIPMENT OUTSOURCING AND OUTRIGHT PURCHASE FOR QUARRYING OPERATIONS AT FOUNTAIN COMPANY, AKURE, ONDO STATE
- Authors
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Arowojolu, E.O
Federal University of Technology Akure, Nigeria.
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Oniyide, G.O
Federal University of Technology Akure, Nigeria.
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- Keywords:
- Outsourcing, Purchase, Equipment, Operational efficiency, Quarrying
- Abstract
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This study focused on evaluating the pros and cons of outsourcing and purchasing of quarry equipment for cost effective and efficient productivity for Fountain Construction Company, Akure, Nigeria. The study assessed the cost-effectiveness, considerations of outsourcing and purchasing strategies with the help of literature review and data analyses. The results show notable differences in prices, operational advantages, and strategic effects for mining companies interested in optimizing their machine procurement and management processes. This study provides practical options and consequences to the mining sector, specifically to Nigeria, for improving the decision support, operational efficiency and strategic procurement process. The study revealed a significant negative cost difference of ?731,839,500 over four years, demonstrating remarkable cost efficiency when purchasing equipment.
- Author Biographies
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- 2025-05-30
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