1-Why is it important for the Procurement team to understand this process.

What is the difference between Spend Management and Total Cost of Ownership?

2-Two years ago Bill and Suzanne started a business making possum skin gloves, vests and hats for golfers and extreme sports enthusiasts. The Possum trappers predominately work from late spring to autumn as it is hard to access traps in the winter months due to snow and cold/wet conditions.

The business has been a great success to date and they are planning to move into industrial premises and grow the home business to 20 staff over the next year. They have successfully entered the USA and Western European market and have the summer months to implement changes to their business.

Part of Jane and Bill's strategic plan is to improve their procurement strategies and they would you to provide feedback on Lean Procurement.

Answer the following questions:

1.What is Lean Procurement?

2. How can Lean procurement assist Jane and Bill in respect of supplier management (Currently 50 different suppliers).

3. How can Lean Procurement assist with quality assurance (Currently 5% reject rate and no QA in place)