Question:
What is the role of procurement and supply function in creating savings, efficiencies or added value?
Solution/Answer:
Procurement and supply function play an instrumental role in the government and commercial entities as a critical enabler in setting elaborate business strategy and attainment of sustainable cost reduction (Hsin Chang et al., 2013). For instance, in cost savings, procurement and supply function facilitates successful negotiations of contracts ensuring leverage on the offered discounts with improved visibility on the patterns of spends and budgets allocation. For efficiency, procurement achieves this through a purchase process optimization contributing to efficient sourcing of quality goods and services on a timely basis. This is affirmed by Jiang and Low (2011) that pointed out on the strategy used in organisations……………………………………………………………………………………………………………………….. ………………………………………………………………………………………………………………………………..Please contact our team to receive guidance, support and tutorial services on this assessment in full for CIPS assessment 1
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