Discuss the benefits of implementing a vendor rating system for procurement management.
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- Avion, Inc. Susan Dey and Bill Mifflin, procurement managers at Avion, Inc., sat across from each other and reviewed a troubling performance report concerning a key supplier, Foster Technologies. The report detailed the deteriorating performance of Foster Technologies in the areas of material quality and on-time delivery. At this point, Kevin ODonnell, another procurement manager, entered the room. Why can changes within a supply chain disrupt the normal flow of goods and services within a supply chain?Below are the weaknesses/ disadvantages of Direct procurement. 1. Risk of stock-outs 2. Relatively high costs 3. Quality standards 4. Handling Relationships How do we overcome those weaknesses?Can you help me? 1. List the disadvantages (min 5 points) of traditional procurement approach and see what are the methods/ strategies to improve the system by having other forms of procurement systems. 2. Explain the pros and cons of the selected tender method in a table form and how this method may be enhanced.
- PUBLIC & PRIVATE PROCUREMENT ASSIGNMENT Question a) Visit an organization of your choice (i.e. public/ private or both) and identify the various stakeholders and their roles in relation to the procurement function. b) Where appropriate, design an institutional procurement process framework.1. Describe the different elements of an e‐procurement system and give an example. 2. Draw a diagram that summarises the main differences in processes within an organisation that you choose for traditional procurement and e‐procurement. 3. Outline the main benefits of e‐procurement by example. 4. Explain the differences between buy‐side and sell‐side e‐procurement. Give an advantage for each type for the one of purchasing company. 5. Current adoption levels of e‐procurement are low. Identify the main reasons for this by example.As a supply chain and logistics management student, you have completed key aspects of thediscipline throughout your qualification, namely, purchasing management, supplier relationshipmanagement, warehouse management and strategic supply chain management.This question requires you to reflect on your knowledge and understanding of supply chainmanagement. You are required to write a one-page report where you reflect on:• Which areas of this module did you find most interesting and challenging to learn about?Why?• If the procurement process for inventory is not ethically done, what do you think would bethe impact on organisations?• Do you think the individual responsible for managing inventory i.e., performing ABC analysesor tracking inventory through a warehouse needs to be analytical? Why or why not?• Would using artificial intelligence through computer programs give a non-analytical personan advantage?• Could a career in inventory management be the future for you? Why or why not?
- Kindly Highlight the following Details: 1. Describe the steps of the procurement process flow of any manufacturing or Retail company. 2. Identify the problems which they are currently facing in the procurement process 3. Prepare a Quotation list for the procurement items. 4. Provide a brief Recommendation and Conclusion of the reportV. What are the essential features and functionalities to consider when selecting an e-procurement solution for an organization?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.
- Vendor selection is a process that allows clearly stating, defining and approving those vendors which meet requirements of a procurement process. Describe some vendor selection criteria for an Enterprise Resource Planning (ERP) system.Management Using relevant examples identify the very unique situations that would push an organization to adopt direct procurement and restricted tendering2. Discuss three (3) areas of importance in the procurement process.