Strategic procurement depends on strong “Supplier Relationship Management” (SRM) where procurement professionals are concerned about developing robust supplier relationships and negotiating favourable terms and conditions. In the future, it is expected that supply chain structures will become more complex and choosing the right supplier will be more critical. Increasingly stringent supplier requirements will become routine, and demanding purchasers will expect suppliers to demonstrate their essential competencies. Supply chain risk, scarcity of raw materials, environmental, sustainable and economic issues will lead to increased pressure on these buyer-supplier relationships.
You are to consider a UK business that sources food materials extensively from Greece and discuss how it can manage the dangers of economic and other risks arising from this relationship You are asked to critically discuss how the procurement function can manage a network – often global – of vendors and suppliers that can quickly become inoperative due to rapid shifts in the business environment. You are expected to provide appropriate case study examples to illustrate your answer.
This paper should follow a structured approach and should be prepared and presented as a professional business report. You should undertake a relevant literature review that helps inform your investigation.
Paper should have a clear structure, with:
Ø An abstract (300 words max, one single paragraph)
Ø A table of contents
Ø The main body of the paper – you have full creative control over the structure, but do use section headings to signpost your work. Word length 3000 words (do not exceed word limit). Do not include the cover page, abstract, table of contents or References section in the word count.
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