This coursework aims to enhance your understanding of the important role of Procurement and Supply Management (PSM) and its impact on a company. Wherever possible, apply/relate your research/data mining to your company. You can hide the identity of the company being discussed. By the end of your report, the reader should be able to appreciate the importance and impact of PSM’s role.
- Identify any one company and explain the importance of linkage between its Business Strategy and its Procurement and Supply Strategy.
- Identify any one company and discuss the ways that the PSM function can help the company to be more competitive and successful in the market. Apply appropriate theories, concepts, and models to your analysis.
- With reference to the IHS Markit and the Institute for Supply Management, comment on how the Manufacturing PMI (Purchasing Managers’ Index) data are used by Procurement Managers. Show and comment on the LATEST published trend charts (with 2021 and 2022 shown by month) on Manufacturing PMI for each of the 5 countries: China, Japan, Singapore, UK, and the USA.
- Discuss its impact on PSM Strategy. Suggest ways to overcome any negative impact, assess and evaluate advanced concepts and future trends in PSM.