Project Risk and Procurement Management Essay Example | Topics and Well Written Essays - 2500 words

Project Risk and Procurement Management - Essay Example The study investigates global catalogue facility in IBM that supports strategies aimed at offering IBM innovative catalogue solution for indirect purchases while supporting all teams in need of catalogue functionality. Issue at hand Procurement teams face challenges as well as opportunities from the increased competition, accelerated globalization and growth of services as essential differentiators in the marketplace, it is essential for organizations have to reassess their prevailing strategy and constantly validate its efficiency based on current and expected future business environment. At the core of IBM’s integrated supply chain is its global procurement’s value coming from its people and technologies that secure goods as well as service in support of internal partners and external clients in development and delivery of quality products and offerings (Williams, Lueg & LeMay 2008). IBM’s global supply chain involves a large number of suppliers is used to addr ess every product and service offering the company produces. Devising supply chain of this dimension and complexity while attaining end-to-end perceptibility and total incorporation is not a small task. Collaboration with suppliers and business partners remains crucial for the company in today’s business because it enables communication in the supply chain and ensures that suppliers are agile and responsive. Currently, the company’s supply chain is complex and functions much like a multi-point network configuration with movement of goods, processes and communications essential to the network (Baraldi 2008). Concept of supply chain management Supply chain management in the past few decades became extremely essential to companies operating in the competitive global marketplace. Although there are many definitions on the concept of supply chain, supply chain entails the context in which goods, services and information flow from the supplier to the end user; however, in re cent past supply chain expanded to include flow in the opposite direction. Therefore, supply chain management entail effective and efficient supervision of the supply chain and relationships between parties taking place in the chain. The significance of supply chain management is often associated with benefits it offers to organizations in the chain because it offer benefits like decreased costs, boosts revenue, increases satisfaction in customers and improves delivery and product or service quality. The benefits arise from various factors associated with supply chain management like information sharing, coordination and the resulting synergies between organizations (Baltacioglu, Ada, Kaplan, Yurt & Kaplan 2007). Moreover, through supply chain management, market data needs can efficiently be monitored and changing consumer needs and demands can easily be accessed and satisfied through proper production processes. As well, providing the right products and services at the right time a nd location offers customer satisfaction, and this potentially increases sales and revenue. Supply chain is essential considering that in the current global market it is impossible