Driving Value Through Procurement and Supply Paper example

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Driving Value through Procurement and Supply

Table of Content

Introduction…………………………………………………………………………..

Driving Value through Procurement and Supply…………………………….…....

The opportunities for the procurement and supply function to create saving or efficiencies or other sources of added value………………………………………...

How the profile of the function can be improved………………..…………………

How collaboration can be created with stakeholders to increase any engagement in the procurement process……………………………………………………….....

The need for the organizational policies and procedures to implement effective procurement and supply…………………………………………………………………

Conclusion……………………………………………………………………………...

Executive summary

The role of procurement and supply function has been changed dramatically, since adding value to procurement and supply allows companies improve quality of their goods, reduce costs, find better solutions for supply strategies, and create unique products and services in the market. In the work the following questions were discussed: the opportunities for the procurement and supply function to create saving or efficiencies or other sources of added value, the ways for improvement of the functions for Toyota and Equate, ways creation of collaboration with stakeholders in order to increase any engagement in the procurement process, and the need for the organizational policies and procedures to implement effective procurement and supply. The main ways for creating savings or efficiencies are outsourcing, single source, supplier’s development, price agreement, investment recovery, vertical integration, and merging in the supply chain. By analyzing Toyota and Equate’s approaches to procurement and supply function, we came to conclusion that Equate can improve procurement and supply function by increasing collaboration between suppliers and the organization, while Toyota can invest the recovery and create vertical integration. Collaboration can be achieved through improvement of communication, managed competition, continuous improvement, value-based compensation, and collaborative process. The organizational policies and procedures allow segregating the duties between the stakeholders, creating strong corporate ethic, uniting all employees under one vision and mission, and avoiding risks and conflicts at workplace

Driving Value through Procurement and Supply

Introduction

Procurement means a process of goods, works, and services acquiring, “covering both acquisition from third parties and from in-house providers” (CIPC). For the last decades the role of procurement and supply function has been changed dramatically. The companies are aware of the positive influence of the procurement and supply function on the business development. In our work we will discuss the opportunities for the procurement and supply function to create saving or efficiencies or other sources of added value, the ways for improvement of the functions for Toyota and Equate, ways creation of collaboration with stakeholders in order to increase any engagement in the procurement process, and the need for the organizational policies and procedures to implement effective procurement and supply.

Driving Value through Procurement and Supply

The opportunities for the procurement and supply function to create saving or efficiencies or other sources of added value

There are a lot of opportunities to create savings or efficiencies including outsourcing, single source, supplier’s development, …

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