Procurement Strategy and Brexit: Implications and Effective Approaches

Assignment Task - Procurement Strategy

To establish your ability to:

1. Evaluate the strategic importance of purchasing in the supply chain.
2. Critically assess the management of the procurement function within an organisation considering the legal framework and ethical implications.
3. Appraise the appropriate use of procurement principles to meet business and customer needs.

An individual assignment, as described below, which makes up 50% of the final grade.

Assignment Task - Procurement Strategy

The role of procurement is increasingly being recognised as an important contributor to the financial performance and operational performance of companies and organisations. While many companies and organisations are working to develop a strategic procurement vision there are others who still see procurement as a clerical function. This assignment is designed to assess your ability to analyse changing needs, research current best practices and critically evaluate the role and future of procurement.

Task:

Undertake a comprehensive Literature Review addressing the following question:- Discuss the implications of the Brexit on Global Procurement Strategy. Compare and Contrast effective approaches which could be adopted to mitigate and/or address challenges faced by a Procurement department. You are required to conduct a comprehensive literature review and need to demonstrate that you have researched differing viewpoint from all sides.

Thought Starters:

Compare and contrast researchers’ views and opinions surrounding Procurement Strategy.

• What do we mean by Procurement Strategy?
• What are the benefits and issues of adopting and implementing an effective Procurement Strategy?
• How does Brexit impact or provide opportunities?
• How should companies and organisations respond and what changes could they make to their strategy?
• How do you maintain the strategy moving forward?

Literature research:

• You need to demonstrate that an in-depth study of the topic has been undertaken.
• Use a range of credible sources, including journal articles, books and business news articles.
• A range of industry sectors have been looked at.
• Use up-to-date sources, i.e. from 2019 to 2022, as well as more established papers.
• Utilise both academic and practitioner perceptions.

Critical Evaluation:

• You should critically evaluate the literature.
• Compare and contrast researchers’ views and findings.
• Discuss advantages and disadvantages and demonstrate a balanced discussion.
• Show ability to relate concepts and ideas to actual examples.

Assessment Criteria:

Students are encouraged to explore the subject and consider approaches and address possibilities which may not have been considered or addressed completely in the lecture or tutorial sessions. Explicitly the intention of this assignment is to encourage the students to engage in the theory and practice, addressing subjects of interest to them, within the overall scope of the general subject, and consider how these theories could appropriately and effectively be applied.

The marks are awarded using a model as follows:-

Distinction

This answer demonstrates very broad and deep knowledge and understanding of the subject area, providing evidence of detailed comprehension of module theory and their application. It comprehensively addresses all elements of the question and considers and explores areas that have not been discussed during the lecture and tutorial sessions. It is clear that the author has read and comprehended a wide quantity of applicable and interesting literature and has comprehensively critically evaluated and contrasted the different researcher’s views and findings to a very high level. The quality of work is to a very high standard, concise, well presented and well argued. It's correctly and comprehensibly referenced to the APA Standard, being professionally presented and uses a logical approach to answering the question.

Merit

This answer demonstrates broad knowledge and understanding of the subject area, with evidence of good comprehension of module theory and its application. The answer addresses all elements of the question andconsiders and explores some areas that have not been discussed during the lecture/tutorial sessions. The author has read and comprehended a wide quantity of applicable and interesting literature and has criticallyevaluated and contrasted the different researcher views and findings to a high level. The quality of work is to ahigh standard, concise, well presented and well argued. The report is correctly and comprehensibly referenced to the APA Standard, with some missing citations. It's clearly presented and uses a logical approach to answering the question.

Pass

This answer demonstrates an average knowledge and understanding of the subject area, with evidence of comprehension of module theory and its application. The author has read and comprehended a quantity of applicable and interesting literature and has attempted to critically evaluate and contrast the different researcher views and findings to a reasonable level. The quality of work is to a reasonable standard, concise, reasonably well presented and reasonably well argued largely correctly referenced but with missing citations. Reasonably clearly set out and uses a reasonably logical approach to answering the questions.

Marginal Fail

This answer does not demonstrate a level of knowledge to a high enough standard to achieve a pass. It does not adequately demonstrate an understanding of the subject area and is unable to evidence a comprehension of module theory and its application. It attempts to answer many of the elements of the question but does not demonstrate a reasonable level of reading and comprehension of applicable literature. The quality of work is to a low standard, inadequately presented and with little attempt to present arguments. The report is not correctly or comprehensibly referenced and may be poorly set out and might not use a logical approach when answering the question.

Fail

This answer does not demonstrate a reasonable level of knowledge, showing a poor understanding of thesubject area with areas of misunderstanding. It is unable to evidence a comprehension of module theory and its application. It does not answer many of the elements of the question and does not demonstrate a reasonable level of reading and comprehension of applicable literature. The quality of work is to a poor standard, badly presented and with no or little attempt to present arguments. The report is not correctly or comprehensibly referenced and is poorly set out and does not use a logical approach when answering the question.