Procurement Management NMIMS Assignment Solution December 2023
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NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Procurement Management
Internal Assignment Applicable for December 2023 Examination
Assignment Marks: 30
All Questions carry equal marks.
All Questions are compulsory
All answers to be explained in not more than 1000 words for question 1 and 2 and for question 3 in not more than 500 words for each subsection. Use relevant examples, illustrations as far as possible.
All answers to be written individually. Discussion and group work is not advisable.
Students are free to refer to any books/reference material/website/internet for attempting their assignments, but are not allowed to copy the matter as it is from the source of reference.
Students should write the assignment in their own words. Copying of assignments from other students is not allowed
Students should follow the following parameter for answering the assignment questions
1. XYZ Corporation is a medium-sized manufacturing company that specializes in producing electronic components. Over the years, the company has experienced growth and expansion, leading to an increased demand for various raw materials, components, and services. However, the procurement processes within the organization have not evolved to accommodate these changes. As a result, there have been instances of delays in sourcing materials, inconsistent purchase practices, and potential cost inefficiencies. Evaluate the current purchase policy and procedures at XYZ Corporation and recommend improvements to the purchase policy and procedures that could lead to more streamlined and effective procurement processes. Also, Identify and describe the various requisition types that XYZ Corporation might encounter in its procurement operations by explaining the importance of categorizing requisition types and how it can help in better procurement planning and execution. Lastly, propose a step-by-step process for issuing an RFx for XYZ Corporation to ensure effective supplier selection and negotiation. (10 Marks)
2. GlobalMart Inc. is a multinational retail company that operates in various countries. The company sources products from suppliers located worldwide and distributes them to its retail stores. However, GlobalMart Inc. has been facing challenges in ensuring timely and cost-effective transportation and delivery of goods. The lack of standardized transportation strategies, documentation discrepancies, and limited shipment traceability have led to operational inefficiencies. Explain the concept of INCO terms and their significance in international procurement and shipping by evaluating how selecting appropriate INCO terms can impact GlobalMart Inc.’s transportation costs and responsibilities. Also, discuss the potential consequences of inaccurate or incomplete documentation on the transportation and delivery process by Proposing strategies or technologies that GlobalMart Inc. can implement to improve shipment tracking and visibility. Lastly, recommend a comprehensive transportation and logistics strategy that aligns with the company’s global operations, focusing on cost efficiency and timely delivery. (10 Marks)
3. TechCom Solutions is a fast-growing IT services company that provides a wide range of solutions to its clients. As the company expands its operations, it faces challenges in effectively sourcing reliable suppliers, streamlining the supplier registration process, and evaluating supplier performance. These challenges have the potential to impact the company’s service delivery and profitability.
a) Discuss the importance of conducting spend analysis for TechCom Solutions to identify cost-saving opportunities and strategic sourcing possibilities. Also, recommend steps and criteria for enhancing the supplier selection process, ensuring the registration of qualified and reliable suppliers. (5 Marks)
b) Discuss how understanding total cost ownership can contribute to TechCom Solutions’ decision-making process when selecting suppliers and products. Also, explain how ABC can help TechCom Solutions allocate costs more accurately and make informed procurement decisions. (5 Marks).
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