Global Procurement – strategies worth sharing | My Assignment Tutor

7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 1/7 TRIMESTER 2 HE 2021 PROJ6004 ONLINE T1831 CRN 1381Forum: Assessment 1 Part B – Discussion Forum ParticipationDiscussion Board Thread: Module 3 Discussion: Global Procurement – strategies worth sharingTHREAD: MODULE 3 DISCUSSION: GLOBAL PROCUREMENT –STRATEGIES WORTH SHARING7 Post(s) in this Thread 1 Unread 0 Unread Replies to MeSelect: All NoneMessage Actions Expand All Collapse AllAnonymousModule 3 Discussion: Global Procurement – strategies worthsharing2 years agoReplyWhat strategies would you as a project manager recommend most to yourfellow project managers when procuring contracts and resources in a globalsociety? In what situations would each strategy be most appropriate, andwhat are the beneÑts of each strategy?QuoteRE: Module 3 Discussion: Global Procurement – strategies worthsharingFelix Kipngetich Rutto 21 days agoStrategies for Project Managers in Procuring Contracts andResources in A Global Society StrategySituationsCentralized purchase through global supplyThe appro ?HOME STUDENT RESOURCES STUDENT HELPF Search r RefreshSANDIP MERAMBHAI DANGAR 43 LOGOUT7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 2/7 subsidiariapproach thelps ensuproduct (KLocal purchase through local supplyThe approconvenienqualitylaborLocal purchase with global supplyThe modelcompany smay involstandards t(Kotabe &Centralized purchase with local supplyThe approquality staare control2018). . Th-intenReferencesKotabe, M., & Murray, J. Y. (2018). Global sourcing strategy: anevolution in global production and sourcing rationalization.In Advances in global marketing (pp. 365-384). Springer, Cham.7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 3/7RE: Module 3 Discussion: Global Procurement – strategies worthsharingFelix Kipngetich Rutto 16 days agoPROJ 6016 Capstone Case Study – Bowen TerraceAssessment 1 Part B:‘Best Practice’ Contract and Procurement ProcessThe development of best procurement practices is highlydependent on the market and technology as new procurement challengesrise and others evolve each day. the development of best practices istherefore dependent on understanding the complexities associated withcontract management, vendor management, and the procurement-to-payprocess (Handfield, Jeong & Choi, 2019). Effectively managing each ofthese issues helps the project progress smoothly and achieve theprocurement goal.The set of external factors that a project is likely to experiencemay include nature, economic and political influence. There is a needfor coherent decision-making in approving project activities and theirbudgets. Budgetary and political factors are generally outside the controlof the project and the procurement process necessitating criticalmeasures by the procurement officer to minimize the risk of late supplyand project delays (Dixit, 2020). Allowing sufficient lead time in theprocurement process allows for appropriate planning of the projectprocess and soliciting of potential supplier information. The approach,therefore, allows the advance of authorization and the reception ofbinding commitments.Mitigating these external influences in the contract andprocurement process for global project management allows for objectiveevaluation of the specifying project requirements. The process allowsfor full awareness of procurement requirements and the subject tochange for political or other reasons. The procurement officers in theproject team need to be involved early in the project to reduce theassociated risk by regularly reviewing the requirement (Handfield, Jeong& Choi, 2019). The process also allows specific uncertainties involvedin the project process to be recognized early on to make the appropriatecontractual arrangements.ReferencesDixit, V. (2020). Risk assessment of different sourcing contractscenarios in project procurement. International Journal ofConstruction Management, 1-13.Handfield, R., Jeong, S., & Choi, T. (2019). Emerging procurementtechnology: data analytics and cognitive analytics. International7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 4/7Journal of Physical Distribution & Logistics Management.RE: Module 3 Discussion: Global Procurement – strategies worthsharingCristhian Felipe Azuero Betancour 4 days agoThere are several strategies as a project manager that I would recommend;there is centralized purchase that consist in making all the purchase ofresources from the headquarters of the company, local purchase thatconsist in making all the supply purchase from diÖerent locations of thecompany. Moreover, there is global supply that consist mainly that all theresources are supplied by a overseas third-party to the company whereaslocal supply is done in the same country where the company is. This two kindof supplies can import from overseas which is known as oÖshore or locallyas onshore (Masaaki and Murray, 2017).The Capstone case study touch several situation when this strategies can beused. Due to a shortage of local accommodation, the Brisbane City Councilhas to request to a local third-party (Torrens University) for a place to hostthe Olympics athletes. This construction of the accommodation building iswell located near commercial centres and provide the necessary services forthe athletes. According to the case study, the project is locates in Brisbanewith one project management contractor that will manage all the supply. So,it would be a centralized local purchase of onshore supply. The beneÑtwould be to avoid having a lot of locations for the construction of thebuilding, and can focus all the eÖorts into the purchases of materials on onesingle place (Smith, 2020).There will be a chain supply due to the demand of certain materials for theconstructions of the building. There is not enough material and the budget isreduced. In this case, the strategy would a Global purchase of oÖshorematerials that would bring beneÑt such as low prices and good quality fromdiÖerent suppliers rather than using the local ones (Smith, 2020).ReferenceKotabe, M., & Murray, J. Y. (2017). Global sourcing strategy: An evolution inglobal production and sourcing rationalization. Advances in Global Marketing,365-384., G. (2020). PROJ 6016 Capstone Case Study – Bowen Terrace. Australia:Torrens University.7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 5/7RE: Module 3 Discussion: Global Procurement – strategies worthsharingMarta Rocha da silva 1 day agoIn today’s world organizaƟons are becoming more compeƟƟve, as aconsequence of globalizaƟon and free market concepts. These two forcesshape and drive our economy and led to the need to develop new productsand beƩer services, in order to aƩend a crescent demand imposed for newcustomers. In this context, organizaƟons seek for the opƟmizaƟon of theirservices and products, in an endless search for the cheapest, the fastest andbest way to produce or offer something. Thus, this global view is influencingthe project management pracƟces adopted within all industry sectors. Asdefined by Lysons and Farrington “Global procurement enables firms topursue the full potenƟal of internaƟonal sourcing by capitalising on theworld’s best suppliers (Lysons and Farrington, 2006)”.As a project manager I would recommend a few strategies as a mean tosucceed in projects involving stakeholders from diverse countries andbackgrounds. Firstly, the organizaƟon should assemble a group of the mostsenior leaders for a steering commiƩee. Leadership is quite important whenprocuring contracts and resources in a global society. Leaders provideguidance, assistance and have authority to decide. Even in projects that have along Ɵmeframe, a decisive factor for success is to keep stakeholders informedabout the posiƟve results. This keeps them moƟvated which lead toengagement and support for the projects in the long run. Secondly, theorganizaƟon should define the right level of management for each differentcategory. Let us think in a project the involves the supply of a certaincommodity which has a global supply market structure. In this case, theorganizaƟon should think about global category management. On thecontrary, facility management requires a more local approach. Finally, anotherstrategy that I would recommend is the creaƟon of a set of guiding principlesfor “working together”. The objecƟve is to bring parƟcipants from differentparts of the globe to target the same goal, which includes commitment tocollaboraƟon.To sum up, managing procurement in a global society requires relevant skillsthat aim to read the broad and complex picture that involves stakeholderswith diverse culture, poliƟcal background, and beliefs. This may be quitedaunƟng if not done in a strategic fashion. Therefore, it requires a thoroughlyapproach perhaps with assistance from a outsourcing specialized consulƟngorganizaƟon, with a focus on a cost effecƟve outcome.Reference:Anantatmula, V. S. & Thomas, M. (2008). Global projects: how to managethem successfully? Paper presented at PMI® Research Conference:Defining the Future of Project Management, Warsaw, Poland.Newtown Square, PA: Project Management InsƟtute.7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 6/7Lysons, K. and Farrington, B. (2006) Purchasing and Supply ChainManagement. 7th EdiƟon, PrenƟce Hall, London.Neuhaus, K., Schmitz, A., & Umbeck, T. (2021). Building a World-Class GlobalProcurement OrganizaƟon. Retrieved 30 June 2021, fromhƩps://Ɵon/RE: Module 3 Discussion: Global Procurement – strategies worthsharingLaura lucia Leiva sarmiento 1 day agoGlobal Procurement StrategiesThe Global Society has currently encouraged many organizations toimplement new strategies that allow them to streamline certain processesin their daily work. In project management, it is currently sought that theprocesses have quality standards that will allow a better execution andoffer in products or services. From another perspective, management canbe seen as a specific set that connects a variety of resources that meetthe needs during and after the execution of projects (Jeffs, 2019).The success of the projects is determined by the good planning andexecution are given by those in charge of it. That is why as a projectmanager I will focus on giving some particular recommendations for theBowen Terrace, mainly I consider that it is a complex project since it hasdifferent stakeholders, which causes different challenges to be presentedin decision-making, for this reason, it is important to articulate theprocurement management with human resources since this way theadequate personnel will be selected for the elaboration of the differenttasks (PMBOK® Guide, 2017). In context, those in charge should focuson achieving clarity in acquisitions and contracts concerning materialsand other supplies that may be needed for the project, that is why it isimportant to implement production strategies that allow verifying andevaluating in detail the use of machinery, equipment and also havecontrol in the supply chain.In project management and procurement different areas allow ProjectManagers to have a better approach regarding the execution of projects.I consider that in this project it is important to implement acommunication plan which has different strategies based on thecompetencies and responsibilities of each person in charge, since in thisway better clarity will be presented in decision-making and whendelegating functions to each of the employees (Kerzner, 2019 ).In today’s world, companies must present an approach with qualitystandards at the highest level since this allows them recognition and highdemand for their services and products. In conclusion to the above, itcan be said that Procurement management must implement differentstrategies emphasizing human resources, planning and execution ofprocesses, and also include financial strategies that allow control of thebudgets assigned to achieve the expected success in projects.7/3/2021 Thread: Module 3 Discussion: Global Procurement – strategies …… 7/7Select:ReferencesA guide to the project management body of knowledge (pmbok®guide). (2017). ProQuest Ebook Central https://ebookcentral-proquestcom.torrens.idm.oclc.orgJeffs, J. (2019). Globalization, the New Economy and ProjectManagement: a Graph Theory Perspective. The Journal of Modern PM(ISSN: 2317-3963).Kerzner, H. (2019 ). Using the Project Management Maturity Model :Strategic planning for project management. John Wiley & Sons, 2019.RE: Module 3 Discussion: Global Procurement – strategies worthsharingCristhian Felipe Azuero Betancour 16 hours agoAll NoneMessage Actions Expand All Collapse All← OK


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