Homework: Strategic Role of the Purchasing Function
In this homework, you will execute some of the steps involved in developing a supply management strategy that will support your organization's overall goals.
This homework will assess your knowledge based on the following Outcome:
• Evaluate the strategic impact and significance of the purchasing function.
Instructions
Address the following in your paper:
1) What is a high-level strategy or strategic goal of your organization that could be supported through better supply management?
2) Describe the key stakeholders when developing your strategy. Why are these people particularly important?
3) Evaluate the four sample supply management objectives on page 197 under the heading "Engaging Stakeholders to Build Category Strategy Objectives." Which would you select as the most appropriate goal to pursue with your supply management strategy? Justify your answer by tying this goal to the objectives of your organization.
4) Analyze the various supply management strategies that are discussed beginning on page 230 under the heading "Types of Supply Management Strategies." Which of these would be most relevant for what you are trying to accomplish? Explain how you would use that type of strategy to support the strategic goal of your organization that you identified earlier.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.