Procurement Management: Issues, Strategies and Recommendations

Procurement Management

EXECUTIVE SUMMARY
Procurement management is all about managing spend done by organization.
Procurement plays a vital role in organization and even ministry of defense (MOD). The report is
being commissioned to ministry of defense (MOD) Ajax armored vehicles. It is going to provide
details about key issues by applying procurement process and cycle. The final section of the
report has suggested some practices to the Ministry of Defense department to make improvement
in the future procurement projects such as utilization of digital contract management, effective
logistics management and supplier relationships among others. The final section of the report
has suggested some practices to the Ministry of Defense department to make improvement in the
future procurement projects such as utilization of digital contract management, effective logistics
management and supplier relationships among others.

TABLE OF CONTENT
INTRODUCTION ..........................................................................................................................4
PROCUREMENT MANAGEMENT AND ITS PROCESS ..........................................................4
PROCUREMENT STRATEGIES ..................................................................................................6
CHALLENGES/ ISSUES/ PROBLEMS ........................................................................................7
RECOMMENDATIONS ON IMPROVEMENT OF FUTURE PROCUREMENT PROJECTS
........................................................................................................................................................10
CONCLUSION .............................................................................................................................12
REFERENCES..............................................................................................................................13
APPENDIX....................................................................................................................................15

INTRODUCTION
Procurement management is all about managing spend done by organization.
Basically, it is a strategic approach which is used by company in order to optimize and
manage spend of firm. In addition to this, it includes acquisition of quality services and
products with a budget from vendors before or on the deadline. The present report will
be based on procurement management and issues relating to it. While managing the
organizational spend the company can easily focus on process relating with order
management. This study is based on Ajax armoured vehicles, built by general
dynamics. With the help of digital battlefield technology this company provide the army
to fight. The vehicles which has been used by the Ajax is fully integrated which helps
soldier to work effectively. This report will highlight some of the major issues relating to
armed forces Ajax vehicles and will provide some recommendations for making
improvement in the future projects of procurements by the ministry of defence.
PROCUREMENT MANAGEMENT AND ITS PROCESS
procurement plays a vital role in organisations and even ministry of defence
(MOD). The reason behind that its key impact has on the overall costs of the system
and business. On the basis of given project relating to procurement management of the
UK's armed forces Ajax vehicles, there has been process of procurement and strategies
implemented in order to deal with issues relating to technology, suppliers and
innovation. The process of procurement is all about selecting, evaluating and creation of
formal contractual agreements (Dey, Roy and Saha, 2019). Plus, it is all about
managing the ongoing supplier relationship of the firm. Ajax armoured use procurement
management technique in order to help with the overall processing of supplier invoices
for payment. By using procurement management, Ajax vehicles is able to manage
accounts payable to complete the source to settle cycle of procurement. As we all know
that in the world of competition where there is increase in complex functions and
dynamics marketplace, firm need to have agile tools and techniques that will support