A proactive strategic procurement operation can give the organisation it represents a competitive advantage by reducing waste in the value chain. For an organisation of your choice, you are asked (a) to critically examine the Procurement function, (b) by considering 2-3 areas below investigate how the Procurement function can be improved and compensate external turbulences in the markets.
• Procurement Strategy
• Strategic Sourcing and Outsourcing
• Sustainable Procurement
• Supply Risk
• Word processed (letter size 12, times new roman, 1.5 space)
• Fully referenced (Harvard Referencing System)
• Allocation of credit (references and citations t and sources used in the material)
• Clarity of argument
• Overall report presentation including spelling and grammar
1. EXECUTIVE SUMMARY
• Give a brief complete summary of what has been addressed in the paper
• Introduce the company and key findings
• Concept in relation to procurements and definitions (procurement function and sourcing)
• Literature review
• Establishment of relevant theory (e.g. what do we mean by global sourcing?)
• Introduction to the company or organisation to be addressed
• Present the procurement function and sourcing of the organisation.
• Be critical, analyse and examine the procurement function with references
• Consider 2-3 areas below and investigate how the Procurement function can be improved and compensate external turbulences in the markets.
• Show how the areas can be implored to improve the procurement function with diagrams.
i. Procurement Strategy
ii. Strategic Sourcing and Outsourcing
iv. Sustainable Procurement
v. Supply Risk
• Sourcing method
• How the Procurement function can be improved and compensate external turbulences in the markets.
Outline key points and provide recommendations with possible references .
5. REFERENCES (Harvard)
6. APPENDIX (For Diagrams)
Assessed intended learning outcomes
On successful completion of this assessment, you will be able to:
Knowledge and Understanding
• Demonstrate an understanding of the importance of procurement for global organisations operating in complex market environments.
• Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management.
• Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop insights into and solve current problems.
• Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas.
• Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management.
• Demonstrate a sound understanding of the importance of risk management in the development and maintenance of sustainable procurement.
Practical, Professional or Subject Specific Skills
1. Leads by example – as high levels of self-awareness, emotional and social intelligence, empathy and compassion, and able to identify mental well-being in others. Work collaboratively enabling empowerment and delegation – acts with humility and authenticity, is credible, confident and resilient.
2. Judgement and Challenge – Takes personal accountability aligned to clear values. Demonstrates flexibility and willingness to challenge when making decisions and solving problems – instils confidence demonstrating honesty, integrity, openness, and trust.
3. Courage & Curiosity – is confident and brave, willing to innovate, seeks new ideas and looks for contingencies. Manages complexity and ambiguity, comfortable in uncertainty, and is pragmatic.
4. Valuing Difference – engaging with all, is ethical and demonstrates inclusivity, recognising diversity, championing, and enabling cultural inclusion. Empowers and motivates to inspire and support others.
5. Professional Reflects on own performance, demonstrates professional standards in relation behaviour and ongoing development. Advocates the use of good practice within and outside the organisation.
Transferable Skills and other Attributes
• Develop their critical skills, especially in relation to published literature in the field.
• Work independently and with others in analysing and presenting solutions to Project Risk and Procurement Management problems.
• Manage their time effectively and efficiently to meet deadlines.
• Locate and synthesise information from a range of published literature and electronic sources and present this effectively in both oral and written forms.
• Take responsibility for personal learning and continuous professional development.
• Communicate effectively through a variety of media to different audiences.
• Make decisions in complex and unpredictable situations.
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