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Strategic Procurement & Inventory Management – Assignment

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Added on  2020-06-03

Strategic Procurement & Inventory Management – Assignment

   Added on 2020-06-03

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Procurement & InventoryManagement
Strategic Procurement & Inventory Management – Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1Main body...............................................................................................................................1a) Describe the supplier selection process undertaken by the cited firm to support theirbusiness...................................................................................................................................1b) What procurement strategies will be used by Usaha Tegas to place in the cost effectivenessand management competitively..............................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
Strategic Procurement & Inventory Management – Assignment_2
INTRODUCTIONProcurement and effective handling of the inventory is very vital and crucial for abusiness firm. The process of procuring or acquisition will help the company or a businessorganisation to have a better stability and productivity in the market. On the other hand, thebetter handling of the inventory will help the business organisation to manage its operations in asignificant and effective manner (Kotloff. And et.al., 2015). This report will lay an emphasis onthe different sort of business strategies that will be undertaken in consideration by Usaha TegasSdn Bhd (UTSB). It is a well known Malaysia based copper wire manufacturing firm thatprovides the product for the domestic as well as industrial purposes on local and internationallevel. The report will lay focus on the supplier selection criteria and various sort of procurementstrategies that are been undertaken in consideration by the cited manufacturing firm to sustain incompetitive industry.Main bodya) Describe the supplier selection process undertaken by the cited firm to support their business.The effective selection of a good supplier is very necessary and crucial for a businessorganisation. The supplier will provide the company with either the raw material or the finishedgoods that will catalyse the business operations of the cited business firm. The UTSB will seethrough the handling of the different business operations which is very important for the growthand development of the business firm in an effective and significant manner. The cited firm willfollow a wide variety of supplier selection process or criteria to handle a wide range of itsbusiness operations. Other than this, it will help the business entity to meet the needs anddemands of its stakeholders and customers in a very effective way (Xiao, Yang and Zhang,2015). The effective handling of the supplier selection process will involve the followingmeasures, which will be followed by cited manufacturing firm to maintain its inventory orlogistics are as follows:Cost: This is the most crucial and vital factor that is required to be taken in theconsideration by the cited business firm. The supplier who will be providing the goodquality raw material or goods at the nominal or reasonable cost will be the first priority ofa business organisation. The supplier will look after to keep the process of the productsand services at a very minimum cost that will help in effective rise in the operationalcapacity of the organisation (Wild, 2017). The lower cost of the raw material that is been1
Strategic Procurement & Inventory Management – Assignment_3

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