Demonstrate an understanding of the importance of

Question

Project Risk and Procurement Management

Strategic procurement depends on strong "Supplier Relationship Management" (SRM) where procurement professionals are concerned about developing robust supplier relationships and negotiating favourable terms and conditions. In the future, it is expected that supply chain structures will become more complex and choosing the right supplier will be more critical. Increasingly stringent supplier requirements will become routine, and demanding purchasers will expect suppliers to demonstrate their essential competencies. Supply chain risk, scarcity of raw materials, environmental, sustainable and economic issues will lead to increased pressure on these buyer- supplier relationships.

You are to consider a UK business that sources food materials extensively from Greece and discuss how it can manage the dangers of economic and other risks arising from this relationship You are asked to critically discuss how the procurement function can manage a network - often global - of vendors and suppliers that can quickly become inoperative due to rapid shifts in the business environment. You are expected to provide appropriate case study examples to illustrate your answer.

This coursework should follow a structured approach and should be prepared and presented as a professional business report. You should undertake a relevant literature review that helps inform your investigation. Please also ensure that the Harvard Referencing System is adhered to and fully complied with.

Word length 3000 words (+/- 10%). Do not include References in the word count.

Marks (out of 100)
Use of theory: 30
Examples: 30
Quality of argument : 10
Reference to course ideas: 10
Citation and References : 10
Conclusions: 10

Relates to Learning Outcomes:

- 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.

The following course related books should also be considered.

Procurement Principles and Management - 11th edition chapter correspondence errata
(by Peter Baily, David Farmer, Barry Crocker, David Jessop)
ISBN: 978-0273713791
Procurement planning Chapter 2 and 3
Procurement cycle Chapter 1
Whole Life Cycle Costing (WLC) Chapter 9
Sourcing/supplier selection Chapter 8
E-auctions Chapter 18
Contract administration/Contract Management Chapter 19
Supplier Relationship Management (SRM) Chapter 8

Further reading:

Sustainable Procurement:

1) The relationship between sustainable procurement and e-procurement in the public sector, Walker, Helen ; Brammer, Stephen, International Journal of Production Economics, 2012, Vol.140(1), pp.256-268

2) Humanitarian Logistics and Sustainability, Matthias Klumpp editor.; Sander Leeuw editor.; Alberto Regattieri editor.; Robert Souza editor, Springer eBooks, Cham : Springer International Publishing : Imprint: Springer 2015

3) A field-level examination of the adoption of sustainable procurement in the social housing sector, Meehan, Joanne ; Bryde, David J., International Journal of Operations and Production Management, 6 July 2015, Vol.35(7), pp.982-1004

4) Sustainable procurement practice, Meehan, Joanne ; Bryde, David, Business Strategy and the Environment, February 2011, Vol.20(2), pp.94-106

5) Sustainable procurement: Past, present and future, Walker, Helen ; Miemczyk, Joe ; Johnsen, Thomas ; Spencer, Robert, Journal of Purchasing and Supply Management, 2012, Vol.18(4), pp.201-206

Answer 1

The assignment is all about project risk and procurement management. You are to think a UK business which sources food materials broadly from Greece and illustrate how it can administer the dangers of economic and other risks occurring from this relationship. You are inquired to critically illustrate how the procurement function can administer a network - often global - of vendors and suppliers which can quickly become inoperative because of rapid shifts in the business atmosphere. You are anticipated to give appropriate case study illustrations to describe your answer. In a word length of around 3000 words; please respond to the following: 1) Explain an understanding of the significance of procurement for global organizations operating in the complex market environments. 2) Locate, synthesize and vitally assess recent or current information from a broad range of published literature.