ISCOM 361 Week 2 Individual Assignment The Purchasing Cycle

Individual Assignment The Purchasing Cycle

Read the following scenario:

To be the best asset to its organization, a purchasing department must efficiently and effectively use the purchasing process. The process includes how the department identifies organizational needs, evaluates those needs, chooses suppliers who fulfill those needs, ensures prompt and accurate payment, evaluates the level to which needs were met, and facilitates improvement. The effectiveness a purchasing department displays in overcoming challenges presented by the process and the efficiency with which it streamlines day-to-day operations is vital to organizational success. For an employee to work in the process, he or she must understand it. Please use headers for each requirement below.

Choose a specific industry, such as transportation, food and beverage, or housing.

Conduct research into the purchasing process for the industry you choose.

Write a 1000 to 1100-word paper, addressing the following:

Summarize purchasing objectives and responsibilities.

Explain steps of the purchasing cycle.

Determine what elements of the process could be improved. Provide three to four examples of how you would improve the process and how they improve it.

Describe how the purchasing process is different for capital goods. Provide specific examples of the difference between capital and non-capital goods.

Illustrate how an organization may gain a competitive advantage by improving their purchasing process.

Use a minimum of one reference and APA guidelines apply. Use headings for each bulleted requirement.