Discuss in brief the various types procurement practices in the retail industry. Explain how the global sourcing is advantages over the local practices to retailing companies.
Q: Discuss the advantages and disadvantages of using e-commerce in the procurement process.
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Q: Use a pharmaceutical company as an example and discuss the importance of Procurement Management,…
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Q: what are key drivers of procurement?
A: BELOW IS THE SOLUTION:-
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Discuss in brief the various types procurement practices in the retail industry. Explain how the global sourcing is advantages over the local practices to retailing companies.
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- Using Westmed pharmaceutical company discuss the importance of procurement management, considering the activities of procurement and the relationship of the procurement function with other department in that specific company.Today, different organizations employ various management techniques to carry out the efficient functioning of their departments. Procurement management is one such form of management, where goods and services are acquired from a different organization or firm.With this regard,Evaluate the role and significance of supplier selection and assessment on improving business competitive position. Provide relevant examples to support yourUse a pharmaceutical company as an example and discuss the importance of Procurement Management, considering the activities of procurement and the relationship of the procurement function with other department in that specific company.
- Describe the different types of e-commerce business models available for procurement and point out their respective benefits and disadvantages.a) Explain five (5) ways in which electronic systems can be used in the sourcing process.b) Describe five (5) ways in which added value may be created for a buying organization through an effective sourcing process c) With examples, explain the various forms of unethical behavior practiced in the procurement profession.Procurement extends from just defining work- sharing warranties etc to co designing the offering and R&D that it requires. Discuss the evolution of procurement strategy from cost driven to revenue approach in the light of above approach.
- Describe the e-procurement system and its advantages over the manual system. Are there any disadvantages to the electronic system? Do you think the e-procurement system will ultimately replace the manual system? Why or why not? answers need above 1000 wordsProcurement comprises of three main stages namely identification of need, supplier selection and acquisition. Consider a firm is supposed to buy two types of material A and B. Material A is the routine buying where material B is nominated as CAPEX oriented. •Identify the functional and innovative buying •Role of Earlier supplier and supply involvement in each case •For which case, the company can proceed with brand specific purchasing and why? •Evaluate the benefits of hybrid buying structure for each case covering the benefits of both centralized and decentralized buying •Establish which of the purchasing requires RFQ and RFP and why?Consider the four stages of the development of the procurement function identified by Reck and Long. State, with reasons, the stage reached by procurement in your organisation.