Procurement, Risk, and Contract Management

Procurement, Risk,
and Contract
Management

Executive summary
Global sourcing is an activity which involves sourcing of good and services from global market.
This report will include critical examination of various methods of global sourcing and such as
preliminary research, choosing of supplier, market and supplier analysis etc. This report file will
also include global procurement strategy such which will help in analysing external
environments for TESCO such as strategic review, resources and competence analysis, and
recommendation for future development. This report will also include various tools and methods
related to recruitment and management of employees so that productivity of employees and be
augmented and thus help organisation in achieving goals and objective.

Table of Contents
INTRODUCTION ..........................................................................................................................4
MAIN BODY ..................................................................................................................................4
(a) To critically examine the global sourcing methods...............................................................4
(b) To propose a global procurement strategy which can lead to procurement excellence and
improve the company’s competitive advantage..........................................................................6
CONCLUSION .............................................................................................................................10
REFERNCES:................................................................................................................................11
Books and Journals:..................................................................................................................11

INTRODUCTION
Global sourcing can be defining as the function which is used by global business firm in
order to meet needs of resources collection and perform task in effective way. This is useful in
meeting business standards and performing task according to needs of business (Lysons and
Farrington, 2016). This function is also useful in performing the risk analyses and managing it
according to current needs on business firm. This report is based on study of TESCO. It is a
multinational business firm which is trading in retail industry. TESCO was founded by jack
Cohen in 1919. there are number is issues which are faced by this form while performing its
function at global level. One of this issues is related to lack of resources. In order to fulfilling this
needs, firm use global sourcing as a method. In this report, there is discussion about global
sourcing methods and global procurement strategy which can lead to procurement excellence and
improve the company’s competitive advantage. This will be based on PESTLE analysis and
other theory that will spoor procurement, resourcing and risk management.
MAIN BODY
(a) To critically examine the global sourcing methods
Global sourcing can be defining as a function which is used by business firm in order to
meet needs of resources and deliver goods and services. There are number of efficiencies which
are supplied by the firm in order to meet needs of global demand and supply. This efficiency
includes low cost skilled labour, low cost raw material and other economic factors like tax breaks
and low trade tariffs (Hong, Lee and Zhang, 2018). There are number of methods which can be
use by business firm in order to perform. TESCO is also using function which helps firm in
meeting needs and perform is operation in global business environment. There are number of
benefits which can be use by business firm in order to perform activities and manage resources in
appropriate way. Some of these methods are discussed below:
Global Sourcing method
Preliminary Research
This is primary method which involve which focus on the enterprise where it identifies
the core and non-core activities related to operations. This will also analyses customer & market
needs by identifying competitor. This is based on the idea of developing business of TESCO and
meeting objectives, market prospective and brand position (Rejeb, Sűle and G Keogh, 2018).