Procurement and Contract Management:
For a long period of time, procurement has been considered as an aspect that deals with purchasing supplies and stationary. Notably, procurement is an absolutely fundamental function in any business and it's important for the success and profitability of the business, particularly with regards to the economic recession and downturns. Until recently, procurement was important but rarely celebrated component of many multinational corporations. Currently, procurement and contract management play vital roles in companies, especially global firms, in ways that the traditional managers could not have imagined. As a result, the procurement and contract management has risen to increased prominence and popularity in the highly competitive business environment. Through these components, companies have been able to strategize towards mitigating risks associated with the tightening of the supplies of critical commodities and increase in prices.

Definition and Importance of Procurement and Contract Management:

Procurement can be described as the process of…...

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References:

Bucki, J. (n.d.). The Successful Vendor Selection Process. Retrieved September 10, 2012, from  http://operationstech.about.com/od/vendorselection/a/VendorSelectionHub.htm 

"Contract Management Guide." (n.d.). The Chartered Institute of Purchasing and Supply.

Retrieved September 10, 2012, from  http://www.cips.org/documents/CIPS_KI_Contract%20Management%20Guidev2.pdf 

"Defining Procurement: Could Procurement be the Most Important Aspect of Your Business?"

Procurement and Supplier Management: Potential Behavior and Trust of Suppliers
The objective of this study is to examine procurement and supplier management and the potential behavior and trust of suppliers and to discuss this in light of current academic debates and provide practical illustrations to support the answer. The work of Chen, Paulraj and Lado (2004) entitled "Strategic Purchasing, Supply Management and Firm Performance" states of purchasing that it has "increasingly assumed a pivotal strategic role in supply-chain management." (p.505) There has been a great deal of discussion about the level of trust needed in the relationship between suppliers and purchasers and authors writing in this area of study began noting in the 1990s that a shift in paradigm was taking place in the area of procurement pushing strategic purchasing to the forefront of academic research. Now more than ever purchasing strategies are critical in the organization's bottom line. Trust among…...

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References

Chen, IJ, Paulraj, A. And Lado, AA. (2004) Strategic purchasing, supply management, and ?rm performance. Journal of Operations Management 22 (2004) 505 -- 523. Retrieved from: http://info.cba.ksu.edu/sheu/Management810/Literature%20Purchasing/Chen.pdf

Dyer, JH and Chu, W. (1997)The Economic Value of Trust in Supplier-Buyer Relations. Retrieved from:  http://dspace.mit.edu/bitstream/handle/1721.1/1439/145a.pdf?sequence=2 

enhancing supply chain management in the healthcare industry Int. J. Electronic Healthcare, Vol. 1, No. 2, 2004. Retrieved from:  http://www.rmu.edu/SentryHTML/pdf/lib_smithMBAD6093_smith4.pdf 

Kwon, I. (2004) Factors Affecting the Level of Trust and Commitment in Supply Chain Relationships. Journal of Supply Chain Management: A Global Review of Purchasing and Supply. May 2004. Retrieved from:  http://www.slu.edu/Documents/business/cscms/trust_commitment.pdf

Procurement Law Overview, Part One
Solicitation Elements

The federal government's basic procurement or acquisition process involves an agency identifying the goods and services it needs also known as the agency's requirements, determining the most appropriate method for purchasing these items, and carrying out the acquisition. Although this process is simple in theory, any given procurement can be complex, involving a multitude of decisions and actions (Halchin, 2006).

One process that is involved is that of solicitation. In the basic federal procurement process, acquisition personnel determine what goods and services they need and then post a solicitation on the Federal Business Opportunities website. Interested companies prepare their offers in response to the solicitation, and, in accordance with applicable provisions of the Federal Acquisition egulation (FA), agency personnel evaluate the offers. Another type of procurement opportunity for a company is to serve as a subcontractor for a government contractor. To be eligible to compete for…...

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References

A Guide to Best Practices for Contract Administration Office of Federal Procurement Policy

(OFPP). (1994). Retrieved from  https://www.acquisition.gov/bestpractices/bestpcont.html 

14 FAH-2 H-240 Socioeconomic Considerations. (2011). Retrieved from  http://www.state.gov/documents/organization/89063.pdf 

FAR 15.206 (e): Cancellation of solicitation. (n.d.). Retreived from  http://www.wifcon.com/pd15_206e.htm

Procurement
The law is both imaginary and complex, yet affects each and every one of us on a daily basis on a number of different levels. In the business world, the law takes on new meanings and new forms as commercial exchange is guided by their principles. The purpose of this essay is to examine the legal aspects of procurement and how this idea can shape the different aspects of trade and commerce.

To accomplish this task, this essay will address procurement from a standpoint of a procurement manager at a large company. In this scenario, the chief financial officer (CFO) of the company, recently addressed the need to cancel the remainder of an order that would not be needed by the company. The CFO is interested in the legal ramifications of this action and has requested a report on the legal concerns he has concerning this action.

This essay will explain the…...

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References

Brown, G. (2009). Procurement and the Project Manager. Project Times, 15 April, 2009. Retrieved from   manager.htmlhttp://www.projecttimes.com/articles/procurement-and-the-project -

The Federal Acquisition Regulation (FAR) (2005). Viewed on 30 July 2013. Retrieved from  http://www.acquisition.gov/far/ 

Gabbard, E. (1996). The UCC as A Tool for Procurement Professionals. Institute for Supply Management, Viewed 30 July 2013. Retrieved from  http://www.ism.ws/pubs/Proceedings/confproceedingsdetail.cfm?ItemNumber=10033 

Larson, A. (2003). Contract Law- An Introduction. Expert Law, October 2003. Retrieved from  http://www.expertlaw.com/library/business/contract_law.html

Procurement Contracts
Procurement contract close-out is a heavy and important topic for firms that have procurements needs on a consistent or even a fleeting basis as the materials and products acquired through these procurements products are often needed to keep the flow of good sales going and/or keeping operations under control and running in optimal fashion. There are really only a few basic ways that an executed contract can end with the hoped for outcome, and probably the usual one as well, being that the contract is fulfilled at the satisfaction and agreement of both sides of the contractual ledger with consideration and exchanged being carried out across the board.

However, there are some pitfalls and other negative outcomes that can happen before, during and after a procurement contract is in force and indeed procurement contracts can end in a quite ugly fashion if one is not careful and/or does not exercise…...

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References

Banker, R.D., Kalvenes, J., & Patterson, R.A. (2006). Information Technology,

Contract Completeness, and Buyer-Supplier Relationships. Information Systems

Research, 17(2), 180-193.

Rob, R. (1986). The Design of Procurement Contracts. American Economic Review,

Procurement in Government Contracting
The government procurement process is identified by purchase of goods and services that will be used in provision of public goods and services like transport, railway, education, health, defense etc. It is not easy to qualify as a supplier to the government bodies since it needs to comply with quality standards. However, this might not be possible for small and disable-owned businesses. In order to offer these firms the opportunity to be a part of suppliers to state, the state takes special measures. There is a quota set for the participation of SDB (small and disabled businesses) in the government procurement. The research shows that women and minority in America are becoming increasingly innovative and their role in the economy has evolved over time. It would not be unusual if these segments become major suppliers to government one day. Thus, it is required that these businesses should…...

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References

Boss, P.V., (2013), "4 Tips for Bidding on Your First Government Contract," Retrieved from:

 http://www.inc.com/news/articles/2010/03/4-tips-for-procuring-a-government-contract.html 

Contracting Support for Small Businesses, (2013), Retrieved from:

 http://www.sba.gov/content/disadvantaged-businesses

Procurement Function
One of the most important functions of business is procurement. Procurement refers to the acquisition of the goods and services a company needs to carry out its functions and to operate within its market. It is therefore vital that this process be implemented and streamlined in such a way to optimize not only the business process, but also to maximize economic activity. There are several levels of procurement, three of which include the project level, the business unit level, and the corporate level.

In a project-based organization with project-based procurement, procurement occurs, as the title suggests, on the basis of the necessities required for each individual project (Lynch, n.d.). Once project objectives are predetermined in the project proposal, procurement activities can also be undertaking to correspond to the project objectives. This kind of procurement is vital to the success of a project.

Hence, one of its disadvantages might be the fact…...

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References

Crawford, S. (2014, Jan. 6). What is Project Procurement? WiseGeek. Retrieved from:  http://www.wisegeek.com/what-is-project-procurement.htm 

Lynch, J. (n.d.) Procurement in Context: Project Procurement. The Procurement ClassRoom. Retrieved from:  http://www.procurementclassroom.com/procurement-in-context-project-procurement/ 

McBeath, B. (2010, Jul. 27). Centralized vs. Local Sourcing and Procurement Governance Models. ChainLink Research. Retrieved from:  http://www.clresearch.com/research/detail.cfm?guid=00A1C14C-3048-79ED-9971-8A979AD1B001

For instance, FleetNav, developed by Maptuit Corp., is designed to be used in conjunction with a vehicle's in-cab navigation and routing system. This program makes suggestions based on many fleet-specific variables, including "existing fuel purchase arrangements, the amount of fuel onboard, the size of the fuel tanks, and the out of route miles required to fuel at a particular station" (Leavitt, 2006). With optimization programs such as these, companies found that they were able to save as much as 4 cents per gallon (Ibid).
As an indirect result of the recent fuel crisis, carriers have found themselves under an enormous amount of market pressure to provide environmentally friendly, or "green," transportation alternatives. Sustainability has become a major business driver, stemming from a combination of fuel price worries, foreign oil concerns, and consumer sentiment about global warming. More and more, companies are creating green procurement procedures and insisting that transportation companies…...

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References

Gonzales, Adrian. (2009, May 21). Transportation Procurement is "Hot" Right Now. Logistics Viewpoints. Retrieved from  http://logisticsviewpoints.com/ 

2009/05/21/transportation-procurement-is-hot-right-now/.

Leavitt, Wendy. (2006, June 1). Fuel Optimization: Not a Penny More. Fleet Owner Magazine. Retrieved from   / fleet_fuel_optimization_not/http://fleetowner.com/mag 

Monczka, Robert, Robert Handfield, and Larry Giunipero. (2008). Purchasing and Supply Chain Management. Florence, KY: Cengage Learning.

Procurement and Performance Management in an Organization
For an organization to be successful, it is critical to attain value through the core goals and objectives of the organization to the stakeholder. This is attained through embracing the appropriate processes of the product lifecycle. Standing (2010, p. 23) has defined value management as well-established and structured process used to define and maximize the value of money. Value management can be applied to various sorts of organizations regardless of the size and the product life cycle. Its advantages have been identified to be effective and efficient when management procurement is applied. Procurement performance is determined the success of required activities for the organization to ensure products and services reach the final destination. This cycle entails measurement, implementation, planning, and analysis. Therefore, procurement performance ensures efficient and effective organizational processes based on the value of money.

There is a clear association between procurement performance and…...

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Bibliography

Lowe, D., & Leiringer, R. (2006). Commercial management of projects: Defining the discipline. Oxford: Blackwell Pub.

Solanki, P. (2009). Earned value management: Integrated view of cost and schedule performance. New Delhi: Global India Publications.

Standing, N.A. (2010). Value management incentive programme: [innovations in delivering value]. London: T. Telford.

Turner, R.W. (2011). Supply management and procurement: From the basics to best-in-class. Fort Lauderdale, FL: J. Ross Pub.

Procurement Specifications:
The procurement process usually requires crucial planning based on the complexity and size of the specific procurement. The process involves generating and reviewing requirements and specifications for procurement. Generating and reviewing these requirements and specifications is geared towards ensuring effective planning. The most appropriate process for generating and reviewing procurement specifications would include defining the outcome, defining specifications, identifying risks, researching the procurement market, and preparing a business case ("Guidance on the Mandatory Procurement Procedures," 2005).

Defining the outcome is the first important step in generating and reviewing procurement requirements and specifications because it provides clear and precise description of what needs to be satisfied by the procurement and how it will be satisfied. The description of the outcome in turn helps in identifying the required product or service, the necessary quantities, and the delivery of the product or service. This is followed by defining specifications, which is sometimes a…...

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References:

Department of Finance and Deregulation, Guidance on the Mandatory Procurement Procedures,

Australian Government, viewed 21 December 2013,

UL Procurement Office, Guidelines on Writing Specifications, University of Limerick, viewed

21 December 2013,

Procurement process often follows clear guidelines that ensure the process is manageable and procurement is done in time. Although there are different ways the procurement process can be employed in different industries, it is imperative that the procurement process in any industry has its main aim of maximizing the profit opportunities. Sollish (2007 pp. 26) provides that the financial planning and the budgeting of a project follow a similar process in various industries. Another element that applies similarly across industries is the concept of procurement management, which correspondingly plays a vital role in the procurement process. However, the process of procurement can vary according to the industry for instance the procurement process in a construction industry will vary from that of the software industry. Some key factors, which are essential to put into consideration in conducting reviews in these two industries, are the mobility of factors. Whereas the mobility or…...

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Reference list

Craig, R.W. 1999. Procurement law for construction and engineering works and services. Oxford: Blackwell Science Ltd.

Rainer, R.K. And Cegielski, C.G. 2009. Introduction to information systems. Wiley & Sons.

Sollish, F., Johnsemanik. 2007. The procurement and supply manager's desk reference. John Wiley & sons, Inc.

Procurement
Contract and Procurement

The supply chain is one of the primary ways in which an organization adds value to the consumer. However, this process can be different based on the industry. For example, the service industry and manufacturing industry can add value through supply chain management in different ways. Value can come from design, quality, price, or efficiency. In a manufacturing environment most modern organizations tend to try to keep inventory levels as low as possible to reduce inventory overhead as well as the risk of obsolescence. However, in the service industry the supply chain may be optimized differently to ensure that the needed service supplies are always in stock without any real risk of stock-out.

Supply chain management has become a complex and technology-driven discipline yet many leaders pay little attention to SCM as a strategic concern and hire individuals with little SCM training, which limits the organizations ability to use…...

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Works Cited

Basu, R., & Wright, N. (2012). Quality Beyond Six Sigma. New York: Routledge.

Chande, A., Dhekane, S., Hemachandra, N., & Rangaraj, N. (2005). Perishable inventory management and dynamic pricing using RFID technology. Industrial Engineering and Operations Research, 445-462.

Slone, R., Mentzer, J., & Dittmann, J. (2007). Are You the Weakest Link in Your Company's Supply Chain? Harvard Business Review, 116-127.

Also, the COO must be involved in this process because that is the person with the expertise to determine what needs to be done, and how much all of that work will cost the organization.
Wong also highlights three spaces of project management, which provide the scope and boundaries for the project and for the leadership roles. The first space is the organizational space. This is where the structure of the organization is developed, with meeting the needs of the organization in mind. For example, determining what talent needs to be on the executive team is an important step in this part of the process. Further, determining what the roles will be within the context of the organization is important as well. As an example, even though we are hiring an outside firm to build the greenhouses, the COO is still ultimately responsible for that work, and in part the…...

This is because a person is able to understand the history of Rockwell much better, and the opportunity to understand both sides of the case. An individual is able to grasp the account of the drama that took place during that time clear up until the present. Anyone who hears the conversation quickly learns that Rockwell purposefully chose to have products on the market to harm consumers. When in reality, this should not appear as the case for anybody to endure because someone could get hurt, and the company is more likely to face a larger law suit that could make the business go bankrupt. Upon seeking to identify with both sides, a person has to consider every argument before making a decision because there really are two sides to every story, which is where the justices were divided in the federal and state level.
The dialogue through the conversations…...

Procurement
Identification of the Problem

The problem at hand in this case is how best to get the goods to the customers. In addition to costs, there are several other factors that need to be taken into consideration. The first is that the goods are highly perishable, which imposes a constraint on shipping. It is not known at this point what the constraint is, in terms of shelf life, but a refrigerated truck is necessary to ship the good.

Another problem is that there are six customers. Each customer has ordered fifty units. With respect to trucks, there is a flat rate fee of $55 for each truck. There is also a minimum of 60 lbs for the truck load (TL) price to be applicable. This price is $1, which the less-than-truckload (LTL) price is $2 per pound. From a cost perspective, the fixed fee for each truck is considerable, so there is…...

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Thesis Statement:

The United States Navy has played a crucial role in shaping the course of history, safeguarding national interests, and upholding global security. Its contributions encompass a wide spectrum of operations, from defending territorial waters to conducting humanitarian missions, demonstrating its unwavering commitment to protecting the nation and its allies.

Arguments/Points to Discuss:

1. Historical Significance:

- Highlight the Navy's origins during the American Revolutionary War, emphasizing its instrumental role in securing independence.
- Discuss the Navy's involvement in major conflicts, including the War of 1812, the Spanish-American War, World War I, World War II, and the Korean War, showcasing its adaptability....

The Anatomy of Fraud in Local Government: A Deeper Dive into the Anatomy of Corruption

Introduction:
Fraud in local government, a persistent and insidious problem, erodes trust and undermines the integrity of public institutions. This essay delves into the anatomy of fraud in this critical setting, exploring its multifaceted nature and proposing novel approaches to combat it.

1. The Anatomy of Fraud:

Types of Fraud:
Procurement fraud: Inflated bids, kickbacks, collusion
Financial statement fraud: Misreporting or concealing financial information
Payroll fraud: Unauthorized payments to fictitious or ineligible individuals
Motivations for Fraud:
Greed and personal enrichment
Pressure to meet financial targets
Lack of accountability....

1. The impact of blockchain technology on supply chain ethics and transparency
2. The role of artificial intelligence in ethical decision-making in supply chain management
3. Ethical considerations in sustainable supply chain management practices
4. The ethical implications of outsourcing and offshoring in supply chain management
5. The importance of cultural sensitivity in ethical supply chain management practices
6. The ethical challenges of managing supplier relationships in a global supply chain
7. The role of whistleblowers in promoting ethics and accountability in supply chain management
8. Ethical considerations in the use of data analytics and technology in supply chain decision-making
9. The ethical implications of environmentally sustainable supply....