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The Concept of the Procurement Management

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Added on  2020-05-11

The Concept of the Procurement Management

   Added on 2020-05-11

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Running head: PROJECT MANAGEMENTPROJECT MANAGEMENTName of the StudentName of the UniversityAuthor Note
The Concept of the Procurement Management_1
PROJECT MANAGEMENT2AbstractThe concept of the procurement management mainly deals with the “Supplier relationmanagement” where the professional procurement is mainly concerned with the robustsupplier management and the concept of the negotiating the favourable conditions and termsinvolved in the process. It can be estimated that the supply chain structure will become moreand more complex in the near future. The choosing of the right supplier should beincorporated in order to reduce the overall effect of it. Increasingly stringent supplier mainlyrequires routine and the demanding purchasers to demonstrate their essential competencies.The concept of the supply chain, environmental, scarcity of the material which are termed asraw material and the economic issue related to it will increase the pressure on these supplierrelationships. There can be different risk factors that can be associated with the risk involvedin a business scenario. The mitigation factor related to the concept play a very vital role inevery sphere of business. An organisation should always tend to focus on the concept ofgaining profit. In this profit the gaining profit is directly related to the supplier who isinvolved in the supplying of the raw material. The report states different processes which areinvolved in the section of the supplier.
The Concept of the Procurement Management_2
PROJECT MANAGEMENT3Table of ContentsIntroduction................................................................................................................................5Strategic Procurement................................................................................................................5Critical evaluation......................................................................................................................6Project risk and procurement management................................................................................6Use of Complex Models of Project Risk and Procurement Management.................................7Theory concept and models.......................................................................................................8Importance of risk management.................................................................................................9Conclusion..................................................................................................................................9References................................................................................................................................10
The Concept of the Procurement Management_3
PROJECT MANAGEMENT4Introduction The procurement management mainly deals with the concept of the supplier relationand with it its management prospective. In the near future it is can be estimated that theconcept of the supply chain management would become very much complicate and verymuch expensive to account upon. There are different factors which should be taken intoconsideration while the selection for the supplier is taken into consideration. The differentfactors which mainly count towards the approach are the factors of supply chainmanagement, environmental, scarcity of the raw material, sustainable and economic factorwhich lead to increase in pressure on these buyers directly (Perrenoud et al., 2017)The main focus point of the report is to take into consideration different factors whichare related to the risk and procurement management. The factors of dangers which are relatedto the economic and the other risk which are associated with the relation between thecustomer are taken into consideration.Strategic ProcurementThe first thing in order to understand the concept is defining the term which isinvolved in it. It can be considered as a plan which is mainly crafted with the main aim ofachieving the goals of the organisation that can be quite off the distance. It can be stated thatthe plan is involved in a tenure of five to ten years in the framework (Sadgrove, 2016). Thestrategic procurement does not involve coming up with the short term goals but on the otherhand coming up with strategies that mainly involve coming up with solutions that mainlyinvolve long term goals. The strategy is involved in the management which is a top levelinvolvement relating to the organisation or within the company’s department of procurement.The strategic procurement would directly involve in the influencing factor which is related tothe plans related to tactical procurement of implementation and development. A procurement
The Concept of the Procurement Management_4

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