Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

( a) Research academic and Journal articles on Innovative Procurement. Prepare a brief literature review of the topic. Your research should mainly be based on

( a) Research academic and Journal articles on Innovative Procurement. Prepare a brief literature review of the topic. Your research should mainly be based on recent articles from peer-reviewed journals (such as Emerald, EBSCOhost and ScienceDirect). (18 Marks)

(b) Studies demonstrate that sustainable procurement practices can transform markets, save money, enhance financial viability, increase the competitiveness of eco-industries, protect natural resources, and foster job creation, which will in turn contribute to sustainable development. Do you agree with this statement? Discuss. (18 Marks)

(c) According to an Article in Mckinsey (2020), closer relationships between buyers and suppliers could create significant value and help supply chains become more resilient. They can take an integrated approach to supply-chain optimization, redesigning their processes together to reduce waste and redundant effort, or jointly purchasing raw materials. Or they can collaborate in forecasting, planning, and capacity managementthereby improving service levels, mitigating risks, and strengthening the combined supply chain. To what extent a close relationship between a buyer and its key suppliers might create value through , inter-alia, innovation and benefit both parties? (18 Marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Financial Management

Authors: Eugene F. Brigham, Joel F. Houston

Concise 6th Edition

324664559, 978-0324664553

More Books

Students also viewed these Finance questions