Contents

• 1.1 Introduction to strategic procurement……………………………..…………………………..1
• 1.2 Strategic Procurement in the supply chain………………………………………….…………2
• 1.3 The role of strategic procurement in cost cutting……………………………………………..3
• 1.4 Critical factors of strategic procurement…………………………………..……….…………4
• 1.5 Achieving supply chain resilience…………………………………………………………….5
• 1.6 Organizing suppliers and supply chains for competitive advantage…………….……………6
• 1.7 Seven steps of strategic procurement process…………………………………………………7

Description

This report is based on the following requirement -
Strategic procurement depends on strong “Supplier Relationship Management” (SRM) where procurement professionals are concerned about developing robust supplier relationships and negotiating favorable 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 buyers 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.