Leading companies have recognized that strategic procurement can play a key role in minimizing waste and linked costs in the value chain: Procurement Risk and Contract Management Assignment, UCD, Ireland

Leading companies have recognized that strategic procurement can play a key role in minimizing waste and linked costs in the value chain and thus assisting an organization to achieve a competitive advantage. For this purpose, organizations aim to constantly improve their procurement processes by evaluating their supply base and sourcing methods. They aim to develop collaborative relationships in an effort to move from tactical procurement to proactive long-term planning, and thus achieve the greatest returns and maximize the value of goods and services for their customers. However, organizations must ensure that supply-related risks are minimized and opportunities maximized when engaging in procurement activities.

• To critically examine their procurement methods and how they manage their supply base.
• To evaluate the procurement and supply-based risks and opportunities faced by the organization through the production of a risk assessment and suggest ways in which the organization can improve its procurement activities to deal with these.