Project Risk and Procurement Management – Strategic procurement depends on strong “Supplier Relationship Management” (SRM) where procurement professionals are concerned about developing robust supplier relationships, Singapore

Assignment Details:

Strategic procurement depends on strong “Supplier Relationship Management” (SRM) where procurement professionals are concerned about developing robust supplier relationships and negotiating favourable terms and conditions. In the future, it is expected that supply chain structures will become more complex and choosing the right supplier will be more critical. Increasingly stringent supplier requirements will become routine, and demanding purchasers will expect suppliers to demonstrate their essential competencies. Supply chain risk, scarcity of raw materials, environmental, sustainable and economic issues will lead to increased pressure on these buyer supplier relationships. You are to consider a UK business that sources food materials extensively from Greece and discuss how it can manage the dangers of economic and other risks arising from this relationship You are asked to critically discuss how the procurement function can manage a network – often global – of vendors and suppliers that can quickly become inoperative due to rapid shifts in the business environment. You are expected to provide appropriate case study examples to illustrate your answer. This coursework should follow a structured approach and should be prepared and presented as a professional business report. You should undertake a relevant literature review that helps inform your investigation. Please also ensure that the Harvard Referencing System is adhered to and fully complied with.

• Demonstrate an understanding of the importance of procurement for global organisations operating in complex market environments.
• Locate, synthesise and critically evaluate recent/current information from a wide range of published literature in the area of Project Risk and Procurement Management.
• Apply knowledge of the theory and practice of Project Risk and Procurement Management to develop insights into and solve current problems.
• Critically evaluate the use of complex models of Project Risk and Procurement Management; systematically and creatively making sound judgements based on the systematic analysis and creative synthesis of ideas.
• Critically and effectively assess the value of theories, concepts and models to the practice of Project Risk and Procurement Management.