Logistic | PROCUREMENT AND SUPPLY CHAIN MANAGEMENT

$42.00

3. You have recently been appointed as a supply chain manager for a leading Australian pharmaceutical company. Summarise the main technologies, methodologies, or strategies you would consider for communicating and trading with your local and global suppliers and why.

Description

Procurement can simply be defined as the purchase of goods and services (Arndt 2006). The process is crucial to the operation of an organization or company and most often involves significant expenditure. Procurement is very prone to malpractices and corruption manipulation according to past cases of corruption. Companies must, therefore, put sufficient safeguards in the process to prevent corruption and ensure value for money. Companies and organizations must thus adapt and adhere to the set measures and standards to fit in their distinct need of operation, resource capability, organizational structure and risk and uncertainty exposure. Supply chain management (SCM) refers to the handling of the flow of goods and services. It involves the transport and warehousing of suppies, inventory for continuing work, as well as end products from the original point to the consumption point (Neupane, Soar, Vaidya, & Yong 2012).