Business > CASE STUDY > PRJ656 W7Assignment.docx PRJ 656 Procurement management Procurement management Procu (All)
PRJ656 W7Assignment.docx PRJ 656 Procurement management Procurement management Procu
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PRJ656 W7Assignment.docx PRJ 656 Procurement management Procurement management Procurement management is strategic approach that focus on optimizing all the aspects of procurement which includes... Supplier selection, Requisition, Invoicing, Purchase order and financial relations. In a traditional way everything is done in unstructured way and based on ones personal knowledge while if someone starts following a procurement management that a well-defined structured way is followed. Make vs. Buy Desicion Supplier selection Negotiation Awarding contracts and maintaning the relationship with suppliers If we apply procurement management, it has following benefits “ a. Reduced Processing cost and time b. Improved supplier selection process through techniques like AHP and improved heuristics. c. If we follow a structured approach, then a lot of unwanted expenses and noise from the process is remov. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]
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