Globalization of Contracts Assignment Help
What do you believe are some of the primary challenges to the globalisation of contracts and procurement management? How may these challenges be mitigated to obtain more effective results? Where any of these challenges faced by the procurements team in the case study? If so which ones? Describe the procurement management approach utilized in this project. How did it work or fail.
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Primary challenges to the globalization of contracts and procurement management
As the globalization is expanding globally, so are the supply chain management and the problems of the dealing with the contracts and the procurement management are emerging. As the supply chain management is thriving on the global business and ensuring full extended support and includes the suppliers, manufacturers, transporters and the distributors which can help to stabilize the situation. As the inputs and outputs should be timely supported, that can help the organization to match with the customer expectation (Antonakis,2017). The challenges faced are the timely deliverables, cheap cost and the issues of hiring the best outsourcing.
Challenges are mitigated to obtain more effective results
The challenges faced as noted in the case study is of the supply risk that needs to face the challenge within the procurement process. It has to oblige in facing the market risks along with the potential frauds and evidently has to face the issues of the cost, quality, along with the delivery risks which a global organization has to face the risks. As noted in the case study, the company also faced the issues of the compliance risks such as of abiding by the anti-corruption law along with the issues of the policy adherence and also stepping up to secure procurement leaders to work all through the night.
Procurement management approach utilized in this project. How did it work or fail?
The approach was naïve as they had poor communication skills, not able to source the right kind of suppliers and also facing the issues of the compliance along with the lack of consistency of the supply (Anderson, 2017).
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