Implementing Best Procurement And Acquisition Practices

831 Words4 Pages
In order to institutionalize best procurement and acquisition practices in an organization, I would begin by forming a cross-functional team made up of supply management personnel, finance personnel, attorneys, human resources, engineers, and other subject matter experts. As was highlighted in chapter ___ of the class text, this is the best approach for ensuring that the broadest possible range of ideas and perspectives are incorporated early into the planning process. Additionally, it ensures that a great idea conceived of by one functional area is viewed from within the restrictions and/or limitations imposed by another. As with specifications development, this process allows the team to develop a reasonable, effective, and implementable plan that works across functional areas and provides the greatest return on investment. One company that has been particularly successful in implementing best practices is Toyota. I would adopt that companies approach to implementing best practices by delegating responsibility down to the lowest level. For example, if anyone on the factory floor spots a deficiency, he or she has the authority to stop the assembly line so that the condition and its contributing factors may be examined, recorded, and analyzed. This same principle could be applied to the acquisition process. By empowering rank-and-file purchasers, contract specialists, contract administrators, and quality control personnel to approach management and provide input on
Open Document