BSOM073: Finance and Procurement Management Report Assignment Help
Question
BSOM073: In this assignment for the University of Northampton, the students are assessed on their ability to critically evaluate the procurement procedures of the provided case study using tools like SWOT and PESTLE. In this report, the student is supposed to examine the case study thoroughly based on which positive or negative aspects of the process and the underlying factors that contributed to them need to be identified, elaborate on the circular economy concept and how it relates to procurement, based on which they are required to offer recommendations.
Solution
Our experts have developed a comprehensively written report evaluating the PHW’s procurement procedure critically in order to comprehend its effectiveness. In providing Mc Project Management Assignment Help, our experts have demonstrated critical thinking while also comprehending important ideas, theories, concepts, and models in relation to the procedures covered in this module that support an organization’s procurement function in order to complete a project cycle. We have provided a snippet of the complete solution below:
Executive Summary
The solution begins with a brief abstract highlighting all the key points from the report. Our experts offer the best professional Management Assignment Help for UK Students, which you can also avail of at cheap prices by reaching out to us.
A report critically analyzing the procurement process for reconfiguring the office space of Public Health Wales (PHW) is presented. Through analysis, it was found out that requirement and solicitation stages were done exceptionally well since requirements, selection and evaluation stages were clear and structured. This made a smooth tendering and bidding process for both buyers and suppliers. However, attention was not provided towards administration stage which could have increased the possibility of non-abidance with requirements and guidance.
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Introduction
An introduction to the chosen organization- Public Health Wales (PHW) has been provided here. Additionally, how the critical analysis of PHW’s procurement procedure in light of its applicability has been conducted in this report has been remarked upon by our experts.
Public Health Wales (PHW) is a Wales-based public health agency which underwent reconfiguration under “Our Space Programme” in order to meet its operational and strategic needs efficiently (Procura+, 2016). The idea for PHW’s new working environment was focused on three aspects namely sustainable development, fitness for purpose, and value for money. Overall, the undertaken reconfiguration program was a success and therefore the demand for its roll-out in remaining accommodation of PHW in Wales has occurred (Procura+, 2016).
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Critical Review of Procurement Process
This section begins by critically assessing the advantages and disadvantages of the procurement process that was carried out. We have provided 50% of the solution for your guidance here:
Procurement is associated with the process of purchasing goods and services for business purpose (Komakech, 2016). The first stage of a procurement cycle is requirement stage which involves delineating procurement requirements as it enables the organization in clearly stating their requirements and enabling the contractors in understanding them clearly (Křenková et al, 2021). Since the aim of PHW was to increase efficiency both strategically and operationally, apart from identifying the needs, staff needs were also identified and analysed in order to create. This enabled the organization to make the workplace more accessible for people with varied needs. One of the major reasons behind the success of this procurement is clearly established goals as these helped in setting the foundation for successful procurement (See Table 1) (Komakech, 2016). The second stage is requisition which is associated with finding and analysing sources. However, requisition was not done by PHW since a majority of the resources were to be used, one of the major objectives of the programme (Procura+, 2016). Moreover, PHW does not directly engage in requisition, rather it sets clear guidelines regarding how and where materials/resources can be accessed. Generally, requisition is made internally as it provides better understanding regarding requirements (Bakar et al, 2016). In the case of PHW, the same strategy was adopted. Solicitation is the third and most important step in procurement. Solicitation is the process of selecting suppliers for a contract. Multiple methods are used for solicitation in procurement such as invitation for bids, small purchases, requests for quotations, sole source procurement, and emergency procurement (NASPO, n.a.). PHW adopted a tender and bidding method for solicitation (Procura+, 2016). Tender refers to an invitation by a public or private entity to supply them with specific services or products and bid is the approach by the contractor/supplier for the invitation (NASPO, n.a.).
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Application of Circular Economy in Procurement
In the following section, our experts have examined how the circular economy idea was applied to the process. Our experts have utilized theories and concepts from the circular economy and procurement to provide the best Finance and Procurement Management Report Assignment Help to our students.
The concept of circular economy (CE) is aimed at decoupling economic development and well-being from environmental degradation. This decoupling requires a global shift from the linear cradle-to-grave (life cycle of a product from resource extraction to complete usage and disposal) approach to circular flow involving, reuse, remanufacture and recycle of resources (Fuertes Giné et al, 2022). Adoption of CE approach in procurement helps in minimizing the negative impact of the process by stimulating need and demand for products contributing to CE, reducing and minimizing negative environmental impact, and using environment-friendly practices like recycle and reuse (Sinigaglia, 2021). A report presented by REBus (n.a.) identified four key principles of CE namely avoidance of wastage, circular design, material choice, and regenerative use of natural resources. Wastage can be avoided by optimising the use of resources and avoiding over purchasing of resources (REBus, n.a.). From the case study, it is clear that PHW engaged in wastage reduction as much as possible by asking suppliers to reuse and remanufacture old furniture and minimize packaging in order to avoid using resources like plastic for the same or use recyclable packaging for reduced environmental impact. Moreover, the circular design approach is associated with creating durable yet reusable and recyclable products that generate zero wastage (Medkova & Fifield, 2016). PHW clearly mentioned in its tender that either suppliers are to reuse existing materials and products or are to source materials ethically. Apart from this, if resources cannot be recycled or reused, then supplier will have to take responsibility for the same. To some extent, this approach was aimed at circular designing. Apart from the environment, the circular design approach also aims at ensuring social sustainability (Medkova & Fifield, 2016). PHW also considered social sustainability of the project by ensuring and creating employment opportunities for disadvantaged worker group in the community.
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Conclusion
Here, a brief summary of the procurement procedure critically analyzed above has been provided by our experts.
From the above presented analysis, it can be concluded that PHW has considered and thoroughly a majority of procurement aspects which has resulted in the success of its project. PHW performed exceptionally well in the requirement and requisition stage as it clearly set objectives and requirement requisition was made by its suppliers on the basis of needs. Solicitation at PHW was done through tendering and bidding methods. On one side, it provided both suppliers and contractors with a fair opportunity to apply and select the best.
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Recommendations for Improvement
Lastly, our experts have proposed creative suggestions and ideas for further enhancing PHW’s procurement process. You can read some of these recommendations below:
On the basis of the above presented critical analysis, few of the recommendations are provided for PHW for further improvement in the future procurement processes.
- PHW must engage in contract administration in order to ensure the success of the procurement process. Contract administration helps in ensuring that suppliers are performing as per the requirement and progress towards desired outcome is being ensured (Marigat, 2018).
- Engaging in risk management for protecting procurement from market uncertainties and volatilities. A successful risk management strategy aligns with the procurement strategy and organizational objective and therefore helps in any deviation and achieve desired outcome (Okonjo et al, 2016).
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