LSCPG8.300 Strategic Procurement, Partnerships and Outsourcing –

Assessment 1

Assignment detail:-

• Words: 2000

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Assessment topics

• Strategic procurement and its impact on both procurement and associated supply chain operations.
• Procurement theories.
• Managing supply and demand in complex global supply chains and associated risks.
• Trends in strategic procurement.

Background to this assessment

The field of procurement and supply chain management plays a pivotal role in the success of organizations across various industries. In today’s dynamic and competitive business environment, strategic procurement practices have become essential for optimizing supply chain efficiency, reducing costs, and gaining a competitive edge. Current inflation and economic downturn have a substantial impact on procurement strategies, leading to increased costs, supply chain disruptions, and the need for adjustments in sourcing approaches. Companies must actively address these challenges to maintain resilience during economic downturns and periods of inflation.

Assessment Task

Task 1

• Prepare a report that conducts a critical evaluation of the impacts of inflation on the procurement strategies for a company of your choice.

 

 To do this you must:

 

1. Choose a real company

        Choose a company that is relatively well known in public to focus on. For example: The Warehouse Group, Fletcher Building, Apple Inc., Nike Inc., Toyota Motor Corp., or Tesla Inc.

 

2. Provide a critical evaluation

       Conduct a critical evaluation of how inflation affect both the chosen company and its customers. Specifically, assess the impact of inflation on the procurement strategy, Supply and Demand, and Supply Management Trends. Apply procurement theories as part of your critical evaluation in this section.    

3. Prepare Recommendations

Prepare at least three recommendations for the Procurement Manager of your chosen company.

Report Structure and Content:

• EIT Cover page includes a signed plagiarism declaration 

• Executive Summary (A one-page summary of the main points of the report, including Recommendations) 250 words 

• Table of Contents (Headings, subheadings and page numbers)

1. Introduction (Purpose and content of the report, brief description of the organisation and its current procurement strategy and problems) 150 words. 

2. Critical Evaluation
   • Procurement strategy and theories 400 words

• Critically evaluate the impacts that inflation and economic downturn have on the procurement strategy for the chosen organisation. Apply relevant procurement theories to assist with your critical analysis of impacts and possible responses that should be made by the organisation’s procurement managers 

2.2 Impact of Current Trends on Procurement Strategies 400 words

Provide a critical evaluation of how at least two relevant trends in strategic procurement would help the organisation improve its procurement strategy and enhance its ability to meet customer demand.

2.3 Supply and Demand 400 words

• Provide a critical evaluation of how collaboration and information sharing with suppliers would enhance the ability of the organisation effectively tackle the challenge of inflation and how this improves the ability of the organisation to meet customer demand. 

1. Conclusions 200 words

• Summarise and integrate the key points and responses from the Critical Evaluation 2.1, 2.2, and 2.3. to provide an overall conclusion for the report about how chosen responses will help the organisation enhance its procurement strategy during this period of high inflation and economic downturn. 

2. Recommendations up to 200 words

• Prepare at least one recommendation each based on your findings from 2.1. 2.2 and 2.3. These should guide the organization to improve its procurement strategy to meet customer demand. Base these recommendations on insights from the Conclusion section. 

• Present each recommendation (for 2.1, 2.2 and 2.3) concisely in a single sentence (e.g., the procurement managers of …………. should……….to improve….). Provide a justification for each in one sentence.  

3. Reference List (APA 7^th edition format)

Use the above subheadings (in bold) as the format for your report.

Notes for the Discussion: In your Discussion, evaluate the topics in terms of relevant:

• Procurement – theories, types of procurement, sustainable procurement, strategic procurement and partnerships, and outsourcing
• Laws of demand and supply
• Synchronising supply and demand information

Trends in procurement practice – processes in procurement, broader outcomes, agile procurement, procurement competencies

 

 

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