Procurement Practice
Procurement of goods and services, essential to the operation of a company or an organization, often involves substantial expenditure. Past corruption cases shows that it is an area most vulnerable to corrupt manipulation and malpractice. Any corruption in procurement would not only bring financial losses upon a company or an organization, but also adversely affect its reputation as a trustworthy partner for business. To ensure "value for money" when making purchases and to prevent impropriety in the process, it is important for the company or organization to put in place adequate safeguards in the system. The Best Practice case study recommends safeguards for adoption in the procurement of goods and services. Companies and organizations are advised to adapt the recommended measures to suit their respective organizational structure, resource capability, operational need, and risk exposure.
Questions:- (Select any organization of your choice - NO repetition)
a. Examine the ethical procurement issues of the selected organization and what could be the best practices and implementation. (at least 10 ethical issues and best practices).
b. Critically analyze the procurement strategies of the selected organization.
c. How does technology help in strategizing the procurement function?