IT Procurement Challenges and Recommendations in Retail Industry Sector
Added on 2021-04-24
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Running head: IT PROCUREMENT CHALLENGES AND RECOMMENDATIONSIT Procurement Challenges and RecommendationsName of studentName of UniversityAuthor’s Note
1IT PROCUREMENT CHALLENGES AND RECOMMENDATIONSAbstractThe research paper gives information about the IT Procurement Challenges in the Retail IndustrySector and provide in-depth analysis of the importance of IT Procurement within the Industry. Itdiscusses the role that support the Business Strategy. It gives some description about theOrganizational structures of the Retail Industry. It specifies the Procedures of Purchasing fromthe Retail Industry. There are some important Legal aspects that has been considered for thisIndustry. Therefore, recommending some solutions to overcome the challenges.
2IT PROCUREMENT CHALLENGES AND RECOMMENDATIONSTable of ContentsIntroduction..................................................................................................................................................3Analysis of IT Procurement’s Importance...................................................................................................3Procurement’s role in supporting Business Strategy...................................................................................4Organizational structures within the industry sector...................................................................................6Purchasing Procedures specific to the industry sector.................................................................................7Legal aspects that are important to the industry sector................................................................................8In-depth analysis of IT Procurement Challenges.........................................................................................8Recommendations........................................................................................................................................9Conclusion...................................................................................................................................................9References..................................................................................................................................................10
3IT PROCUREMENT CHALLENGES AND RECOMMENDATIONSIntroductionEvery Industry faces their own procurement challenges, similarly based on the analysisdone on the IT procurement in the retail industry, this paper will provide qualitative informationabout the challenges that the retail industry faces. The in-depth analysis will make understandabout the role of the Procurement that has support the Business Strategy. () The industry containssome Organizational Structures with specific Purchasing Procedures. The legal aspect is the veryimportant part in the industry sector, as it provides legal information about the procedure andpolicies that the overall industry will have to follow. Finally, the research will have an in-depthanalysis about the Challenges faced through the IT Procurement. It will provide somerecommendation that will be helpful to overcome the challenges.Analysis of IT Procurement’s ImportanceThe efficiency of procurement has been recognized with various kind of trade transactions. Thefunction of procurement works better for those industry who purchase something. If the retailercompany buys goods, services or anything, they make more money with better procurement (Jain2015). Typically, suppose the grocery retailer buys the products and services from multiplevendors. The individual who are professional in procurement handle the procuring purchasesdetails at an optimal price (Scheer and Rubik 2017). As grocery retail is a small business, theprocurement policies and procedures enables them to arrange a long-term goals and objectives ofbuying strategy. The manager of the procurement identifies the complete purchase orders,consider the times of delivery, review and accept the items, receive products and services fromsuppliers, and approve the payments of the supplier. For building a successful industry,procurement management is a key factor. The significant benefits provided by the procurement
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