The Project Dubai Parks and resorts is the Middle East’s largest integrated leisure and theme park destination Project with over 25 million square feet Located in Sheikh Zayed road Dubai South UAE which was initially announce by His Highness Sheikh Mohammed bin Rashid Al Maktoum (Vice-President and Prime Minister of the United Arab Emirates, and Ruler of Dubai in 2012 (Meraas, 2014)
The Project was huge as targeted cost Dh13 Billion (Gulf News, 2016). The Project Dubai Parks and resorts featured with 100 plus rides and attractions, it consists of renowned theme parks: Motion Gate Dubai, Bollywood Parks Dubai and Legoland Dubai, and one water park: Legoland Water Park. (Dubai parks and resorts, 2021)
The official opening took place on 18 December 2016 and expected to welcome 18 million visitors to its theme parks by 2021, according to a separate report by PricewaterhouseCoopers (Philip Shepherd 2015). Where income was expected to generate around $5 billion.
The Project announced “Six Flags Dubai” and cancelled at the later stage, COVID-19 effect and Dubai protocols for Covid Controlling, Postponing Expo 2020 dates were repeatedly affecting Dubai Parks and resort, the effect is unfortunate huge drop in Visitors. Which are lading the project into more financial difficulty.
Meraas Holding is a Dubai-based development company with operations and assets in the UAE and overseas. Meraas is key innovator in UAE for landmark concepts, its collaborative relationships with key partners which adds value to its offering. The company has launched several projects in the tourism, retail, leisure and entertainment sectors. (Meraas, 2014)
The project handed over to new entity targeting turnaround strategy attempting to change project fortunes by fundamental adjustments in strategy as acquisition and divestment the report brief as being procurement Manager for the new entity.
Therefore, the insights of the supply chain management, the tools and techniques to assess sourcing options, the negotiation and contractual issues encounter with suppliers, effective supplier relationship management and technological content considered below as required by the procurement Manager linked to the project endeavour.
Further to above studies, this report is briefing the cost analysis, inventory analysis, supplier analysis, delivery time analysis as most practical procurement strategies to the Dubai Parks and resorts.
2 Turnaround strategy for the successful outcome of the Project
Turnaround strategy is about doing things different, few categories of turnarounds are proposed, revised scope of procurement team, revised supply chain management, sourcing options and supplier relationship management.
Dubai Parks & Resorts required to implement the key changes, good management which is a critical factor for sustained recovery of the Project. A suitable organization hierarchy structure often means easy implication of the changes. Therefore, significant changes to the organization hierarchy structure and tight Cost controls rather than cost cuttings are to be practice.
• Key changes in management (Procurement & Operation)
• Stronger financial controls
• Intensive efforts to reduce production, maintenance costs
• Improved service
• Improved marketing
• Improved quality
• New product market focus
(Grinyer, P, 1988)
2.1 The goal of new Procurement Manager
The new entity required an innovative Procurement Manager who is going to a primary point of contact between suppliers and a business who shall lead procurement team, forefront the purchasing from selecting suppliers to confirming routine stock availability, provide guidance on sourcing and process of procurement.
The key experience on hand of procurement Manager in supply chain and logistics, specialize in implementing cost-effective purchases of all goods and services, as required by the entity. Ensuring quality control and adhering to the entity policies and procedures on supply chain management shall be some of main priorities when carrying out this role and not limited to below;
• Develop Inventive and Cost-effective procurement strategies.
• Sourcing and engaging reliable suppliers.
• Negotiating with suppliers to secure potential risk and advantageous terms, on contracts and agreements.
• Review the existing contracts with suppliers to safeguard ongoing feasibility.
• Building and maintaining long-term relationships with suppliers.
• Organizing and confirming the delivery of goods and services.
• Monitor the procurement budget and encourage a culture of long-term saving on procurement costs.
• Preparing procurement reports for management.
As part of the turnaround strategies for the Dubai Parks & Resort, revised role of procurement manager with assurance adds additional value and brings up functional procurement strategies for organization.
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