Posted: September 4th, 2023

MGMT465 Unit 4 Individual Project

MGMT465 Unit 4 Individual Project. To achieve efficiency in the procurement area of its supply chain operation, a company needs to make decisions based on cost alone and other elements of the supplier relationship. Decisions relating to these elements require the procurement team to collaborate with other business functions such as finance and information technology (IT). Sourcing is a complex discipline that requires the procurement team to make decisions relating to the following elements: aligned strategies, coordinated processes, optimized organization, enabled technologies, and measured results.

Use this template to complete the assignment: Unit 4 template. Complete the following:

Introduce the role of procurement in a supply chain operation, including the collaboration necessary to make decisions relating to the following elements:
Aligned strategies
Coordinated processes
Optimized organization
Enabled technologies
Measured results
Appraise the value of procurement decisions in these areas to achieving efficiency in a supply chain operation, highlighting the collaboration between business functions in making the decisions.
Discuss how purchasing decisions, supported by cross-functional collaboration, helps the supply chain operate efficiently.
Analyze the supply chain scenario and devise a procurement decision strategy recommendation to enable the supply chain to achieve its efficiency goal, including how the business functions collaborate to enable procurement decisions.
Summarize key points from the analysis.
Deliverable Requirements

Your procurement decision-making analysis presentation should be 15 slides on how business functions collaborate to implement procurement strategies to enable a sustainable supply chain. Include detailed support and discussion in the Notes section for each topic. Limit text on each slide, and use visuals to help engage the audience. The Notes section and APA reference must be included within the presentation.

Submitting your assignment in APA format means, at a minimum, you will need the following:

Title slide: Remember the running head. The title should be in all capitals.
Length: 15 slides minimum
Body slides: This begins on the slide following the title slide and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your presentation for this assignment is 15 slides. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference slide: References that align with your in-body academic sources are listed on the final slide of your presentation. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference slide is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.
Introduction
Procurement plays a critical role in the supply chain operation. It involves acquiring goods and services from suppliers to meet the organization’s needs. Procurement decisions must take into account several elements, including aligned strategies, coordinated processes, optimized organization, enabled technologies, and measured results. Collaboration between procurement and other business functions, such as finance and information technology (IT), is essential for making decisions in these areas.

Aligned Strategies
Aligned strategies refer to the procurement team’s alignment with the organization’s overall goals and objectives. This requires collaboration between procurement, finance, and other business functions to develop procurement strategies that support the organization’s objectives.

Coordinated Processes
Coordinated processes involve streamlining the procurement process to improve efficiency and reduce costs. This requires collaboration between procurement and IT to identify and implement technology solutions that support the procurement process.

Optimized Organization
Optimized organization refers to the procurement team’s structure and processes, ensuring that the team has the necessary resources and skills to perform its duties effectively. This requires collaboration between procurement and HR to identify and address any gaps in the procurement team’s skillset.

Enabled Technologies
Enabled technologies involve the use of technology solutions to support the procurement process, such as e-procurement systems, contract management software, and supplier portals. This requires collaboration between procurement and IT to identify and implement technology solutions that support the procurement process.

Measured Results
Measured results involve measuring procurement performance and identifying areas for improvement. This requires collaboration between procurement and finance to develop and implement key performance indicators (KPIs) that measure procurement performance.

Value of Procurement Decisions
Collaboration between procurement and other business functions is essential for making procurement decisions that support the organization’s goals and objectives. For example, coordinated processes and enabled technologies can help streamline the procurement process, reducing costs and improving efficiency. Similarly, optimized organization and measured results can help identify areas for improvement and ensure that the procurement team has the necessary resources and skills to perform its duties effectively.

Purchasing Decisions and Cross-Functional Collaboration
Purchasing decisions must take into account various factors, such as cost, quality, and supplier relationships. Collaboration between procurement and other business functions, such as finance and IT, is essential for making purchasing decisions that support the organization’s goals and objectives. For example, collaboration between procurement and finance can help ensure that purchasing decisions are aligned with the organization’s financial goals.

Procurement Decision Strategy Recommendation
To enable the supply chain to achieve its efficiency goal, the procurement team should focus on the following areas:

Develop aligned procurement strategies that support the organization’s goals and objectives. This requires collaboration between procurement, finance, and other business functions.

Streamline the procurement process to improve efficiency and reduce costs. This requires collaboration between procurement and IT to identify and implement technology solutions that support the procurement process.

Ensure that the procurement team has the necessary resources and skills to perform its duties effectively. This requires collaboration between procurement and HR to identify and address any gaps in the procurement team’s skillset.

Implement technology solutions to support the procurement process, such as e-procurement systems, contract management software, and supplier portals. This requires collaboration between procurement and IT to identify and implement technology solutions that support the procurement process.

Measure procurement performance and identify areas for improvement. This requires collaboration between procurement and finance to develop and implement KPIs that measure procurement performance.

Key Points
Procurement plays a critical role in the supply chain operation, and collaboration between procurement and other business functions is essential for making procurement decisions that support the organization’s goals and objectives. Aligned strategies, coordinated processes, optimized organization, enabled technologies, and measured results are critical elements for making procurement decisions. To enable the supply chain to achieve its efficiency goal, the procurement team should focus on developing aligned procurement strategies, streamlining

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