Question

WRITE ON THE FOLLOWING:.

1. Developing Procurement Portfolio in Manufacturing Industries

2. Achieving Strategic Competitiveness

3. The importance of Electronic Procurement

4. The use of electronic procurement

Answer 1

1. Developing procurement portfolio in manufacturing industries

Based on the identified level of risk and the relative expenditure for each commodity or category of spend, the procurement portfolio can be plotted on a supply procurement matrix as follows:

2.Achieving Strategic Competitiveness

Competition in the 21 st century's global economy will be complex, challenging, and filled with competitive opportunities and threats. Effective strategic leadership practices can help firms enhance performance while competing in turbulent and unpredictable environments. The purpose of this paper is to describe six components of effective strategic leadership. When the activities called for by these components are completed successfully, the firm's strategic leadership practices can become a source of competitive advantage. In turn, use of this advantage can contribute significantly to achieving strategic competitiveness and earning above-average returns in the next century

3.the importance of electronic procurement

• Reducing costs
• Visibility of spend
• Productivity
• Controls
• Using technology

4.the use of electronic procurement

EDI is mostly used for order transmission, order confirmation, logistic information and order invoicing. Enterprise resource planning system have separate module to handle the procurement function. Internet based tools and resources help in the process of procurement.