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(Solution) CIPS New PDV- Driving Value Through Procurement and Supply; Managing Expenditures with Suppliers
- Based on the above discussion, this paper has demonstrated that procurement and supply functions in an organisation are critical in reducing costs, ensuring cost-effectiveness and value for money.
- The procurement department at RCU is key to preventing adverse effects resulting from the adoption of new technology within the industry.
- Each organization has its set of rules and blueprints that determine the procurement and supply activities. These rules are beneficial to the organization in several ways, which include improving financial stability, lowering business risk, increasing employee performance, and creating better supplier relationships.
- Investors’ involvement in the procurement and supply process is critical since it facilitates business transformation.
- Effective procurement and supply management is important to organizations because it is central to the success of organization. The procurement department at RCU focused on the purchase of IT software as the area of spend.