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Principles of Purchasing Management | Assignment

   

Added on  2020-04-01

12 Pages2851 Words137 Views
Business DevelopmentLeadership Management
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Running head: PRINCIPLES OF PURCHASING MANAGEMENT Principles of Purchasing Management Name of the studentName of the UniversityAuthor Note
Principles of Purchasing Management | Assignment_1

1PRINCIPLES OF PURCHASING MANAGEMENTTable of ContentsIntroduction......................................................................................................................................1Supplier Selection Criteria and Issues.............................................................................................2Application of ICT to improve the purchasing operations..............................................................4Appropriate tools to be considered for analyzing the purchasing costs..........................................6Conclusion.......................................................................................................................................8References........................................................................................................................................8
Principles of Purchasing Management | Assignment_2

2PRINCIPLES OF PURCHASING MANAGEMENTIntroduction In this assignment, the main objective delves with the selection of an organization andanalyzing the efficiency of the three aspects regarding purchasing management, such as supplerselection criteria and related issues, costs of purchasing as well as the use of information andcommunication technologies in respect of purchasing operations as well as management. The organization that has been taken into consideration is Sheng Siong Supermarket. Itis considered as the third largest supermarket chain in Singapore. The business strategy of theorganization is maximizing the margins of profit by continuously challenging itself towardschurning out higher turnover per square feet of retail space. The organization is also strategizingthe business in respect of offering products at a reduced price as well as providing effectiveservice, which will be serving increased number of customers within similar time-period. Theorganization is predominantly engaged in the operations of the Sheng Siong Groceries Chain thatincludes 33 stores throughout Singapore. The supermarket is having the design for providing the customers with both ‘wet as wellas dry’ options of shopping, which includes a broad collection of live, chilled as well as freshitems, like meat, seafood as well as vegetables, along with food products that are considered tobe processed, preserved as well as packaged and common merchandises like toiletries andnecessary products required for household. For supporting our retail functions, Sheng Siong Supermarket is also having an extensivenetwork of distribution, facilities for processing of food as well as facilities for warehousing. Theorganizational mission of Sheng Siong Supermarket is striving towards offering the community
Principles of Purchasing Management | Assignment_3

3PRINCIPLES OF PURCHASING MANAGEMENTwhere it is functioning with quality products at reasonable prices along with better services forcreating better customer value. Supplier Selection Criteria and Issues To select the right supplier might be considered to be an arduous method in respect of theorganizational supply chain. Although, to have a more basic process of supplier selection mightbe effective in respect of certain smaller supply chains, however having a more involved methodto do the selection of the correct suppliers will assist many organizations for meeting orexceeding regulatory standards, drive the demand for the customers as well as erect a strongbrand reputation regarding quality products (Morden, 2016). There are certain steps that needs to be followed for the selection of the right supplier,which are mentioned as under,1. Identifying a Supplier. Prior to the selection of the supplier, it is necessary to do thegathering of the stakeholder’s viewpoints and do the defining of the criteria regarding the processof selection. This list of stakeholders might be including the members from the research anddevelopment, marketing, purchasing, quality assurance as well as any other organizational areathat will be touching the selection process of the supplier. At this time, it is necessary for theidentification of some suppliers for assessing their capabilities as well as doing the pricecomparison, and a major criteria to do the selection of the right supplier is value. In this respect,the total ownership cost needs to be considered that will be looking at the customer service of thesupplier, delivery commitments of the supplier, reliability as well as responsiveness of thesupplier and resource savings regarding the suppliers (Petty, 2015).
Principles of Purchasing Management | Assignment_4

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