BM1785: Identify at least FOUR (4) types of Purchases that the Company makes. E.g., Raw Material, Capital Equipment: Sourcing Strategies Assignment, NYP, Singapore

Learning Outcomes

After the completion of this project, learners will be able to:

1. Describe and provide examples of the different types of purchases that a purchaser would make.
2. Explain the characteristics of an effective purchasing policy and its significance in companies.
3. Elaborate on the different components that are commonly included in the supplier evaluation and selection process.

Requirements

1. Learners are to choose a real-life company/organization and answer all the questions in the next segment of this assignment guide.
2. Learners are to perform internet research for this assignment.
3. Learners are to gather relevant information from at least THREE (3) references from credible and objective sources. Wikipedia is NOT to be cited as a source.
4. All references are to be acknowledged in the report, using either APA or Harvard Referencing Styles.
5. The report length shall be between 1,200 and 2,000 words.

Questions

Learners are to include the answers to the following questions in the report.

Q1: Purchasing Function

• Identify at least FOUR (4) types of purchases that the company makes. (E.g., raw material, capital equipment, finished goods, services, etc.)
• Give an example for each of the types of purchases identified above.
• Write at least TWO (2) different statements of specifications for each of the examples provided. (E.g., technical specifications, functional specifications, logistics specifications, etc.)

Q2: Purchasing Policy and Organization

• Extract a segment of the purchasing policy of the selected company.
• Determine if it fulfills the criteria of effective policy by analyzing its strengths and flaws. (Refer to characteristics of effective policies.)
• Rewrite the flawed segments of the purchasing policy to improve it.

Q3: Supplier Evaluation and Selection

• Summarize a case study when the selected company faced negative consequences as a result of selecting the wrong supplier. Suggest what the company should have done to prevent a similar occurrence.

OR

• Summarize a case study when the selected company faced positive consequences as a result of selecting the right supplier. Assess what the company did right to arrive at a positive outcome.