Best Practices from SCM, Procurement, and Procurement Systems

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BUS437001VA016-1178-001 - PROJECT PROCUREMENT MGMT

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3 MARIAM AL RUBAIY BUS 437 - PROJECT PROCUREMENT

MANAGEMENT PROFESSOR JAMES YOUNG STRAYER UNIVERSITY

NOVEMBER 27, 2017

4 BEST PRACTICES FROM SCM, PROCUREMENT AND PROCUREMENT

SYSTEMS SUPPLY CHAIN MANAGEMENT (SCM) REFERS TO OVERSIGHT

OF INFORMATION, FINANCES, AND MATERIALS AS THEY CHANGE

OWNERSHIP FROM ONE PARTY TO ANOTHER FOR EXAMPLE FROM A

SUPPLY TO THE MANUFACTURER. IT INVOLVES PUTTING TOGETHER

ALL THE ACTIVITIES INVOLVED IN SUCH AN EXERCISE IN A MANNER

THAT THEY ARE CONDUCTED EFFECTIVELY IN LINE WITH THE SET

STANDARDS AND POLICIES. Supply chain management is the procedure that

involves the flow of goods or external incorporation of organized operations of a business

with its clients, seller and the entire logistic group in ensuring that there is steady and

effective flow of raw material, information, finished good and semi-finished goods within

the organization with the main purpose of improving the shareholder value.

The supply chain management, in other words, refers the control or monitoring of the

flow of goods and services to the organization for the sake of value addition and ensuring

that there is the proper business connection with the vendors in the market. The supply

chain management team in the organization ensures that the organization gets or receive

the rights products, right quantity, right time and at an appropriate cost in order to add

value for the best interest of the customers in the market (Zhou et al, 2016). The practices

of supply chain management require strategic planning and communication process that

will facilitate the achievement of the right product or services and also maintain the

proper relationship with the vendors in the market. Due to the wide involvement of

various activities within the supply chain in the organization, it’s mostly classified as a

single entity in order for it to be managed effectively. For instance, the group of purchase

representative, distribution, and sales, marketing plan, finance, dispatch, procurement,

manufacturer are all grouped in a single supply chain in the organization. This

incorporation and diversity in the supply chain management has a significant on reducin

administrative impediment and facilitates understanding and teamwork across the suppl

chain. 5 FOR SUPPLY CHAIN MANAGEMENT, THE BEST PRACTICES

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INCLUDE ESTABLISHING COLLABORATIVE SOURCING OF RAW

MATERIALS AND FORMING THE GOOD RAPPORT WITH THE SUPPLIERS

THAT IS A SIGNIFICANT STEP TOWARD ACHIEVING STRATEGIC GOALS

OF THE ORGANIZATION. IT ENSURES THAT THERE ARE REPUTABLE

SUPPLIERS CONNECTED WITH THE ORGANIZATION SO AS TO PROVIDE

QUALITY GOODS AND SERVICES.

In the contemporary market, there has been an increasing need for the organization to

facilitate their procurement functionalities in order to outsource material and services

that will ensure they achieve and maintain the competitive advantages in the market.

Procurement is a diverse operation that entails the management of good and services plu

the purchasing activities. Procurement management is a premeditated role or activities o

the organization with the intention allocating the utmost period of time and power on

tactical purchases that can present competitive advantages in quality, time and

expenditure. 5 ON THE OTHER HAND A PROCUREMENT DEAL WITH THE

ACQUISITION OF RAW MATERIALS IN A MANNER THAT ENSURES THERE

IS OF HIGH QUALITY AND MEETS THE REQUIRED STANDARDS. It is a

strategic progression for the expansion of sound acquisition setup and an effectual supply

base so as to attain supply chain efficiency (Puschmann & Alt 2005). 4 BOTH SUPPLY

CHAIN AND PROCUREMENT MANAGEMENT FUNCTION HAND IN HAND

SO AS TO IMPROVE THE PRODUCTION SYSTEM OF THE ORGANIZATION

AND MAKE IT POSSIBLE FOR THE MANAGEMENT TO OBTAIN NECESSAR

DATA THAT IS VITAL FOR MAKING IMPROVEMENTS IN THE

PRODUCTION PROCESS.

The conversion of conventional purchasing operations to a tactical procurement

diminishes inventory investment levels and the size of provider base that leads to

economies of scale and long-term supplier relations. Procurement management facilitate

the businesses to decreases replacement cycle periods with no stock-out by the

widespread exploits of new tools and methods of supply chain management in the age of

speedy creativity and innovations in the information technology settings. Value addition

id promoted by the procurement management activities, therefore, its essential constantl

develop procurement efficiency that entails progression of facilitated internal

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management processes, incorporation of new advanced technology to cater for the supply

system analysis, buyer analysis among other for the sake of consumer satisfaction. 5 IN

PROCUREMENT, ONE OF THE BEST PRACTICES IN PLANNING AND

ORGANIZING WHICH AIMS AT ENSURING THE MATERIALS USED IN THE

ORGANIZATION IS OF QUALITY AND MEET THE STANDARDS REQUIRED

IT ALSO PREVENTS THE USE OF CROOKED MEANS DURING

ACQUISITION PROCESS WHERE THE MANAGERS WANT TO GAIN

FINANCIALLY FROM THE SUPPLY OF MATERIALS.

Choosing a procurement system is an overwhelming assignment owing to the diverse

aspects governing an organization. The procurement system requirements change

constantly in the diverse situations meaning that there is no given time that one

procurement system will be viable for every organization projects in the market. The mai

criteria manipulating the options of the procurement system comprises time, price

certainty, complexity, competition, responsibility, quality level, risk avoidance,

controllable variation, price completion, government regulations and organization’s

acquaintance in the procurement system. The selections of diverse procurement systems

are consequently assorted leading to the need to conduct a selection process of the system

in a systematic manner. Practical principles can be developed to establish the three main

aspects in the organization including time, cost, and quality by the expert's team prior to

any obligation is affirmed on the preference of the procurement system. 5 ON THE

OTHER HAND PROCUREMENT SYSTEMS, BEST PRACTICES INVOLVE IS

TO ENHANCE VALUE ADDITION AND DELIVER THE BEST GOODS THAT

ARE OF HIGH QUALITY TO THE CUSTOMERS. THEY ENSURE THE

ORGANIZATION WILL REMAIN COMPETITIVE IN THE INDUSTRY BY

BEING IN LINE WITH THE TRENDS OCCURRING IN THE MARKET. 4

THAT MAINTAINS THE MARKET SHARE AND RESULTS IN GROWTH AND

PROFITABILITY (ESSIG & ARNOLD, 2001).

6 REFERENCE ESSIG, M., & ARNOLD, U. (2001). 6 ELECTRONIC

PROCUREMENT IN SUPPLY CHAIN MANAGEMENT: 7 AN INFORMATION

ECONOMICS‐BASED ANALYSIS OF ELECTRONIC MARKETS. 6 JOURNAL

OF SUPPLY CHAIN MANAGEMENT, 37(3), 43-49.

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Puschmann, T., & Alt, R. (2005). 8 SUCCESSFUL USE OF E-PROCUREMENT IN

SUPPLY CHAINS. 5 SUPPLY CHAIN MANAGEMENT: an international journal,

10(2), 122-133.

Zhou, K. Z., Su, C. T., Yeung, A., & Viswanathan, S. (2016). 4 SUPPLY CHAIN

MANAGEMENT IN EMERGING MARKETS. Journal of operations management.