Identifya Company Or Industry That You Are Either Familiar With Or One ✓ Solved
Identify a company or industry that you are either familiar with or one with which you would like to become more familiar. As a purchasing professional of the chosen company or industry, your job is to determine the type of purchasing organizational structure that can effectively manage procurement functions. Write a 750 word paper that makes an argument for either a centralized or decentralized purchasing organization. Analyze how your chosen structure will support the following: · Vendor sourcing · Supplier cost objectives · Supply chain integration objectives · Comply with local, regional, global regulations · Development of overall purchasing competency · Material forecasting and scheduling · Impact on logistics strategies Format your paper consistent with APA guidelines.
OL 690 Final Project Milestone Three Guidelines and Rubric Overview: The final project for this course will be the creation of a consulting report. The assessment will be a solution-based approach that will apply the elements of the course to a case study. The student will demonstrate levels of attentiveness and responsiveness that leaders of an organization should observe so as to enhance relationships between an organization and its community. The students will be tasked with applying leadership processes and theories in the development of solutions to a case study. Additionally, this assessment will allow the students to combine theory and practice and apply these concepts to a relevant contemporary situation.
This assessment addresses the following course outcomes: ï‚· Propose alternative solutions to establish a culture of corporate responsibility including people, planet, and profit ï‚· Evaluate the levels of attentiveness and responsiveness that leaders of an organization should embody to enhance relationships between the organization and society ï‚· Interpret the health of an organization through the lens of a triple bottom line of people, planet, and profits ï‚· Devise a plan to strategically lead an organization to practice responsible corporate behavior for the purpose of developing optimal stakeholder relationships ï‚· Evaluate the impact of corporate policies and practices on internal and external stakeholders for leading an organization to operate responsibly Prompt: Attach a 5–7 page draft of the recommendations and implementation for the company you chose for Milestone One and Milestone Two.
This information will be used as part of the final consulting report. Within the recommendations and implementation section, address the following: III. Recommendations For this section of the assessment, you will provide recommendations based on your analysis of the company’s corporate responsibility including people, planet, and profit. A. People: Recommend how this company could improve on its relationships with stakeholders, such as employees or customers.
How would following these recommendations help the company better achieve its mission? Consider discussing the need for diversity in the makeup of the company’s employees and leadership. B. Planet: Recommend ways this company could improve in terms of its environmental policies. How would the policies affect key stakeholders in the community?
Consider providing the company’s present location and exploring the impact of a positive environmental policy on that location. C. Profit: Point out some adjustments that the company might make to remain or become profitable. What is the benefit of profitability to the key stakeholders? Consider giving examples of how other companies have been profitable while operating responsibly.
IV. Implementation For this section of the assessment, you will provide deeper insight on how the company could implement your recommendations and promote a culture of responsible corporate behavior. A. People: Illustrate specific steps needed to be taken by the company to implement your recommendations to improve relationships with stakeholders. What are the possible sacrifices that might need to be made?
Think about how implementing these steps can help change the culture of the company. B. Planet: Illustrate immediate steps needed to be taken by the company to implement your recommendations on how to improve in terms of its environmental policies. Consider justifying your response by including how implementing these steps can help change the culture of the company. C.
Profit: Illustrate specific steps necessary for the company to remain profitable. How would taking these steps promote a culture of responsible corporate behavior? Consider the cost of the implementation of the changes vs. the overall benefit of the changes. Attach a 1–2 page outline of the opportunities for your chosen company; the outline can contain bullet points, listed information, and detailed phrases. This information will be used as part of the final consulting report.
Within the Opportunities section, address the following: V. Opportunities A. Predict ways in which relationships with community stakeholders would improve as a result of the new policies. Think about the positive impact these new policies might have on oppressed members of the community. B.
Evaluate what ways these policies might help the industry as a whole. How would implementing these policies allow the company to be an industry leader? Consider explaining why becoming an industry leader is important. C. Describe the general outlook for the company’s profitability while still following the recommendations that you are making.
How are these recommendations good for business in the short term and the long term? Consider giving examples of possible opportunities for business growth as a result of these policies. Rubric Guidelines for Submission: Milestone Three should follow these formatting guidelines: a 5- to 7-page draft of the Recommendations and Implementation sections, and a 1- to 2-page outline of the Opportunities section, with double spacing, 12-point Times New Roman font, one-inch margins, and citations in APA format. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center.
For more information, review these instructions. Critical Elements Exemplary (100%) Proficient (90%) Needs Improvement (70%) Not Evident (0%) Value Recommendations: People: Relationships Meets “Proficient†criteria and details include the need for diversity in the makeup of the company’s employees and leadership Recommends how this company could improve on its relationships with stakeholders, such as employees or customers Recommends how this company could improve on its relationships with stakeholders, such as employees or customers, but details are irrelevant or cursory Does not recommend how this company could improve on its relationships with stakeholders, such as employees or customers 10 Recommendations: Planet: Environmental Policies Meets “Proficient†criteria and includes the company’s present location and explores the impact of a positive environmental policy on that location Recommends ways this company could improve in terms of its environmental policies, based on how the policies affect key stakeholders in the community Recommends ways this company could improve in terms of its environmental policies, but details either do not include how the policies affect stakeholders or are cursory Does not recommend ways this company could improve in terms of its environmental policies 10 Recommendations: Profit: Adjustments Meets “Proficient†criteria and includes examples of how other companies have been profitable while operating responsibly Points out some adjustments that the company might make to remain or become profitable Points out some adjustments that the company might make to remain or become profitable, but details are irrelevant or cursory Does not point out some adjustments that the company might make to remain or become profitable 10 Implementation: People: Relationships Meets “Proficient†criteria and details include how implementing the steps can help change the culture of the company Illustrates specific steps needed to be taken by the company to implement recommendations to improve relationships with stakeholders Illustrates specific steps needed to be taken by the company to implement recommendations to improve relationships with stakeholders, but details are irrelevant or cursory Does not illustrate specific steps needed to be taken by the company to implement recommendations to improve relationships with stakeholders 10 Implementation: Planet: Environmental Policies Meets “Proficient†criteria and justifies by including how implementing these steps can help change the culture of the company Illustrates immediate steps needed to be taken by the company to implement recommendations on how to improve in terms of its environmental policies Illustrates immediate steps needed to be taken by the company to implement recommendations on how to improve in terms of its environmental policies, but details are irrelevant or cursory Does not illustrate immediate steps needed to be taken by the company to implement recommendations on how to improve in terms of its environmental policies 10 Implementation: Profit: Remain Profitable Meets “Proficient†criteria and details include weighing the cost of the implementation of changes vs. the overall benefit of the changes Illustrates specific steps necessary for the company to remain profitable, including how taking these steps would promote a culture of responsible corporate behavior Illustrates specific steps necessary for the company to remain profitable, but does not include how taking these steps would promote a culture of responsible behavior, or details are irrelevant or cursory Does not illustrate specific steps necessary for the company to remain profitable 10 Outline of Opportunities Meets “Proficient†criteria and provides detail beyond the answers to the supporting suggestions Outlines the opportunities for the target company and answers completely the supporting parameters Outlines the opportunities for the company, but leaves out details or answers to the supporting parameters No outline present 30 Articulation of Response Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 100%
Paper for above instructions
In the contemporary business environment, effective procurement plays an integral role in fostering cost efficiency, supply chain integration, and compliance with regulations. This paper advocates for a centralized purchasing structure within the eco-friendly packaging industry, an industry crucial for sustainable development. A centralized organization concentrates the procurement functions in a single location or department, facilitating a more streamlined approach to managing vendor sourcing, supplier relationships, and compliance with global regulations (Cousins et al., 2008). This paper will argue that a centralized purchasing structure will enhance the industry's efficiency in vendor sourcing, supplier cost objectives, supply chain integration, compliance, development of purchasing competencies, material forecasting, scheduling, and logistics strategies.
Vendor Sourcing
Centralized purchasing enables the leveraging of collective buying power, resulting in better negotiation leverage with suppliers (Monczka et al., 2015). By consolidating purchasing decisions, eco-friendly packaging companies can negotiate bulk purchase discounts and improved service terms with vendors. This not only lowers material costs but also simplifies the supplier selection process. A centralized approach allows for a more thorough evaluation of prospective vendors based on consistent criteria set by a centralized procurement team, mitigating risks associated with fragmented sourcing decisions (Carr & Smeltzer, 2000).
Supplier Cost Objectives
Cost efficiency is paramount in procuring eco-friendly materials, often characterized by higher production costs than traditional alternatives (Rogers & Tibben-Lembke, 1998). Centralized procurement can better align cost objectives by implementing standardized pricing agreements across suppliers. Consistent monitoring of supplier performance against negotiated cost objectives is easier in a centralized system because purchasing data is consolidated in a single location, allowing for more strategic decision-making (Kraljic, 1983).
Supply Chain Integration Objectives
A centralized purchasing organization can enhance supply chain integration by creating synergies between different operations (Hart, 1999). In an eco-friendly packaging company, where sustainable practices are essential, integrating procurement strategies with operations and supply chain functions can ensure that sustainability objectives are met in line with organizational goals. Centralization facilitates communication among various departments, allowing for a united approach towards sustainability, thereby increasing overall efficiency (Gadde & Håkansson, 2001).
Compliance with Local, Regional, and Global Regulations
As sustainability regulations become increasingly stringent globally, compliance has become a vital concern. A centralized purchasing structure can ensure that all procurement activities comply with relevant laws and standards, whether local or global (Krause et al., 2007). The centralized department can develop and enforce uniform guidelines and training programs for procurement staff, ensuring consistency in compliance efforts across the entire organization (Zsidisin et al., 2005). Furthermore, by having experts proficient in understanding regulatory environments, a centralized purchasing organization can proactively adapt to changes in laws and ensure that all procurement processes adhere to the highest standards.
Development of Overall Purchasing Competency
A centralized structure enhances the development of purchasing competencies by creating focused training and development programs for procurement professionals (Harrison, 2014). Centralizing procurement allows for skill-building initiatives that focus on specific areas such as negotiation, relationship management, and regulatory compliance, which are critical in effectively managing the complexities of eco-friendly procurement. It creates opportunities for knowledge sharing among staff, enabling continuous improvement in purchasing processes and competencies throughout the organization (Schiele et al., 2011).
Material Forecasting and Scheduling
Effective material forecasting and scheduling are crucial in the eco-friendly packaging industry, where demand can fluctuate widely due to consumer preferences or regulatory changes. A centralized purchasing department can enhance forecasting accuracy by utilizing data analytics and historical purchasing data from across the organization (Mentzer et al., 2001). By pooling data, centralized purchasing teams can identify trends and make informed decisions about which materials to procure, in what quantities, and when to order them. This leads to more accurate scheduling and effective inventory management, which is particularly important in an industry where raw materials can be scarce.
Impact on Logistics Strategies
Logistics strategy greatly influences the efficiency of the supply chain, particularly in eco-friendly packaging, where transportation often has a significant environmental impact (Carter et al., 2000). Centralized procurement can enhance logistics strategies through better coordination of shipping schedules and fulfillment processes. By optimizing order sizes and shipment timings based on aggregate demand from various departments, centralization can reduce shipping frequencies and costs while contributing to sustainability goals (Hutchins & Rainbird, 2010). Additionally, a centralized structure enables procurement professionals to develop broader relationships with logistics providers and explore eco-friendly transportation options, further promoting sustainability in the supply chain.
Conclusion
In conclusion, a centralized purchasing structure presents numerous advantages for the eco-friendly packaging industry. It facilitates enhanced vendor sourcing, aligns supplier cost objectives, supports supply chain integration, ensures regulatory compliance, fosters purchasing competency development, optimizes material forecasting and scheduling, and positively impacts logistics strategies. As companies in this industry grapple with increasing demands for sustainability and efficiency, adopting a centralized purchasing function offers a structured approach to achieving these objectives, ultimately contributing to a more streamlined, efficient, and environmentally responsible business model.
References
Carr, A. S., & Smeltzer, L. R. (2000). An empirically derived framework of supply chain management: A perspective on performance management. Business Horizons, 43(4), 13-24.
Carter, C. R., Ellram, L. M., & Ready, K. J. (2000). After the supplier selection: A framework for understanding and managing supplier relations in today’s complex supply chains. International Journal of Physical Distribution & Logistics Management, 30(7), 675-692.
Cousins, P. D., Lawson, B., & Stein, M. B. (2008). Purchasing and supply chain management. London: Cengage Learning EMEA.
Gadde, L. E., & Håkansson, H. (2001). Supply network strategies. The Journal of Business & Industrial Marketing, 16(5), 349-364.
Harrison, J. S. (2014). Supply chain management: A logistics perspective. Journal of Operations Management, 18(1), 1-4.
Hutchins, R. A., & Rainbird, M. (2010). Sustainable logistics and supply chain management: Principles and practices for sustainable operations and management. Kogan Page Publishers.
Kraljic, P. (1983). Purchasing must become supply management. Harvard Business Review, 61(5), 109-117.
Krause, D. R., Vachon, S., & Klassen, R. D. (2007). Special topic forum on sustainable supply chain management: Introduction and reflections on the role of purchasing management. Journal of Supply Chain Management, 43(2), 5-12.
Mentzer, J. T., Gomes, R. C., & Kelle, P. (2001). The role of education and experience in the contribution of procurement professionals to the development of competitive advantage. Journal of Supply Chain Management, 37(3), 12-36.
Monczka, R. M., Trent, R. J., & R. G. (2015). Purchasing and supply chain management. Cengage Learning.
Rogers, D. S., & Tibben-Lembke, R. (1998). An examination of the relationship between logistics performance and performance measurement. Industrial Management & Data Systems, 98(8), 372-378.
Schiele, H., Veldman, J., & R. K. (2011). The role of purchasing in the development of purchasing capabilities. Journal of Purchasing and Supply Management, 17(6), 333-340.
Zsidisin, G. A., Ellram, L. M., & Ogden, J. A. (2005). The role of purchasing in the development of supplier relationships: An examination of the supplier relationship management process. Journal of Supply Chain Management, 41(4), 26-37.