Procurement Risk and Contract Management

Leading companies have recognised that strategic procurement can play a key role in minimising waste and linked costs in the value chain and thus assisting an organization to achieve competitive advantage. For this purpose, organisations aim to constantly improve their procurement processes by evaluating their supply base and sourcing methods. They aim to develop collaborative relationships in an effort to move from tactical procurement to proactive long-term planning, and thus achieve the greatest returns and maximise the value of goods and services for their customers. However, organisations must ensure that supply-related risks are minimised and opportunities maximised when engaging in procurement activities.

Choose an organisation?

(a) Critically examine their procurement methods and how they manage their supply base.
(b) Evaluate the procurement and supply-based risks and opportunities faced by the organisation through the production of a risk assessment and suggest ways in which the organisation can improve its procurement activities to deal with these.

Report format as below:

• Title page
• Contents page
• Sections and sub sections
• Page numbers
• Appendix section etc.

Please do use diagrams, illustrations, tables, graphics etc. wherever these are helpful. If you do use these, please do not put them in the appendices if they are part of your discussion.