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Strategic Management Question Paper. Strategic Management Syllabus. Strategies for managing a surplus fund. Receivables Management, Credit management through credit policy variables, marginal analysis, and Credit evaluation: Numerical credit scoring and discriminate analysis. Control of accounts receivables, Factoring. Inventory Management, Determinations of inventory control levels: Ordering, reordering, danger level. EOQ model. Pricing of raw material. Monitoring and control of inventories, ABC Analysis.
Arbitrage process in the capital structure. Capital structure policy. Dividend policy, Theories of dividend policy: relevance and irrelevance dividend decision. Tactical Procurement Management Tactical procurement is typically a subset of activities and processes within the strategic procurement management approach. It focuses on operational purchasing requirements based on information from a limited environmental scan Lysons and Farrington, Tactical procurement management relates to the management of procurement activities such as drafting specification of goods, works and services ; selecting and contracting of suppliers Obanda, It is majorly constituted of pre-procurement and actual procurement activities.
The pre-procurement or pre-bidding activities are those activities performed by organizations in preparation for a given procurement. These include, needs assessment, procurement planning, drafting solicitation documents, budgeting; confirmation of funds, determining procurement method and conducting market research, among others While actual procurement relates to those activities involving the actual contracting of a bidder. They include; conducting preliminary evaluations, financial evaluations, technical evaluation, negotiations, award of contract and debriefing unsuccessful bidders.
In Uganda, the tactical procurement function is clearly documented under the PPDA Act in order for each and every public entity to follow as a mechanism of promoting compliance and effective service provision. According to KPMG International and Hunja procurement in most public sectors organizations is largely tactical in nature, whereby the focus is normally on supplier selection and contract award New Zealand Government, If the tactical procurement process is poorly managed for example, there is a high possibility of having poor services delivered and the reverse is true.
In Ugandan public procurement, the tactical procurement level is usually given high considerable attention and involvement of key stakeholders or actors as early as possible in order to ensure joint planning and implementation of required tasks. This helps minimize risks of delay, and procurement of substandard items thus effective service delivery management. Strategic procurement management involves countering the negative effect that bar procurement operations from achieving efficiency and effectiveness in service delivery management.
Such interventions majorly take a form of; collaborative business management, supplier development and market analysis Online forecasting in order to promote visibility and accuracy in supply chain management, hence effective service delivery and organization performance Pay Stream Advisors, In the private sector, because of the high desire to obtain competitiveness, strategic procurement is more rigorous in nature than the public sector.
For this matter, a combination of approaches or strategies have been devised, which include, supplier development approaches, and collaborative business but also incorporating of modern business management practices such as e- Procurement.
This has increased efficiency in the operations of many firms leading to improved service delivery management. They work with suppliers to develop new capabilities or products that will improve cost or quality. Procurement is therefore central to achieving efficiency in public expenditure and service delivery.
It is therefore imperative for procurement officers to adopt strategic procurement management tools in order to achieve the strategic outcomes accountability of the government to public. This information is the key foundation for other strategic procurement decisions such as category management, and supplier relationship management. It forms an important part of resource mapping and planning as it allows PDEs and their funding partners to identify where financial resources are being allocated currently, and commitments in the future.
Spend analysis will be particularly useful if carried out regularly and the information is kept up-to-date at a management level.
It provides management with information on opportunities for improving value for money and potential quick wins. It is also a building block for forecasting need and spend ii Collaborative procurement; PDEs should seek opportunities to collaborate on procurement activities at the widest possible level, internally and externally, sub-regionally, regionally or even nationally. Collaboration in this sense means working together to procure similar requirements for multiple user departments or PDEs at the same time.
This should take account of the procurement activities across the organisation and should be linked to work within needs of the user departments. The targets should drive continuous improvement. It comprises a wide number of tools and techniques. This should be carried out at a strategic level and should be repeated regularly to take account of changing priorities, demand and markets.
Categorisation will also be impacted by, for example, opportunities for collaborating with other PDEs, future business requirements, market forces and the resources available. Once the categorisation has been agreed, a wide range of tools exist to identify and deliver the best strategy for dealing with a particular category.
The level of resource applied will be in line with the possible benefits that can be achieved. Challenging and managing procurement activities in this way will ensure that resources are focused where they will achieve the greatest value for money.
SRM allows procurement officers to develop strategies for dealing with suppliers to achieve on-going value for money, and reduce the risk of poor performance or non-delivery or non- availability.
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