Procurement Officer

6356 Words Apr 27th, 2008 26 Pages
A Report On:
Procurement

Executive Summary:
Procurement is important to identify, discover and interpret factors affecting acquiring goods and services. This report researches in detail factors affecting procurement within a larger sized business.

As Wagamama is a fast, casual dining restaurant, there are three main criteria affecting procurement: “speed, quality and value for money”. It is important to ensure that customers’ expectations are being met to ensure best possible sales.

This report explains in detail an approach to understanding the importance of procurement strategies and the importance of resource management.
The report also describes and evaluates plans to improve procurement strategies and best practice.
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The acquisition of best possible goods and services at best possible prices, including direct and indirect costs. However, the time, quantity and place are crucial for finding the perfect products and services.

The illustration below shows in which general direction procurement should go: Procurement is the route of choosing equipment, services or products and maintaining and managing them until they have reached the end of their life cycles, when the whole process is repeated.
The following five steps need to be considered by the procurement officer for Wagamama in order to find the best possible equipment, supplier contracts and products:

1.1.1 Selection Criteria
It is necessary to identify what the business needs are. If the business wants to purchase new furniture, the procurement officer needs to identify the needs and standards of its business, as well as the needs of its customers. Wagamama is known for its “fast, casual dining style”. The restaurants have long tables with wooden benches which encourage customers for a limited stay. This, again, has a positive impact on the customer turnover indicator. Therefore, this aspect becomes a selection criterion when choosing new furniture for the business.
However, all selection criteria vary from business to business. Different standards, situations and occasions within businesses require different needs. Some criteria involve more risks but more benefits could be expected. As stated on
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