Reference no: EM133321297

Procurement and Inventory Management

Learning outcome 1: Critically evaluate different procurement and inventory management strategies, processes, and organizational concepts and their links to further areas of the logistics system.
Learning outcome 2: Appraise and adapt the supplier selection process under different supply chain scenarios within the procurement and inventory management processes.
Learning outcome 3: Implement advanced techniques to calculate adequate stock levels for different stock categories considering logistics and financial aspects
Learning outcome 4: Manage procurement and inventory risks arising from changes in customer markets and their impact on demand and supply along multiple stage of the supply chain.
Learning outcome 5: Monitor and assess procurement and inventory performance through the use of specialised performance measurement tools and techniques.

Assignment (PMA): specific additional advice for WMG's

As a postgraduate level student in WMG you may have some concerns about your ability to write at the high standard required. This short guide is intended to provide general guidance and advice. It is important that if you have any questions you discuss them with your module tutor. Remember, in writing your PMA you need to meet the expectations of the reader and university.

1. A title, with your student number, module, lecturer's name and any other documentation required by the university.
2. A contents page.
3. An introduction for each question, as each question should be developed independently and answered in a separate section in your document.
4. Evidence of an appropriate level of background reading of relevant texts.
5. Evidence of systematic and clear thinking, indicative of good planning and organisation.
6. Writing which makes sense, is clearly and carefully presented (proof-read and grammar checked).
7. A critical style of writing which compares and contrasts the main theories, concepts and arguments with conclusions that are based in evidence presented.
8. A logical and well-defined structure with headings and subheadings.
9. Clearly labelled and well-presented diagrams and other graphics that are discussed in the text.
10. Adherence to usual academic standards including length and a timely submission.
11. A reference section in which every source that is cited in the text is listed and please ensure that you underpin the discussion throughout with relevant academic material to support the content, using the Harvard approach.

Assignment Brief
Semiconductor Chips Case Study

Q1.Procurement Management
Develop a new procurement sourcing and supplier selection process for the case company.
Begin your answer by referring to a procurement management strategy that you aim to follow fitting the industry specified for the case.
Include a critical evaluation of the following:
• Business Requirement analysis (ensure to include any ethical, environmental, and regulatory considerations)
• Supplier selection criteria mapped against your business requirements analysis
• Supplier evaluation system mapped against your supplier selection criteria
(This question should be answered within 1,600 words with a 10% +/- allowance. The question is awarded 50 marks and covers Learning Outcomes 1, 2, 4, & 5).

Q2. Inventory Management

This question is based on the Wolfhound Simulation incorporated in the last two days of the module (remember to include your group name in the beginning of the answer). Please refer to your Wolfhound Briefing Notes for the case specifics.
Reflect on the following inventory management tools used in the Wolfhound Simulation:
• 9-Box Model
• Forecasting
• Review Level

- Provide your calculation for each of the tools.
- Discuss the process and steps that you followed when applying the tools.
- Discuss the benefits you noted from using the tools.
- Critically evaluate how you would have used the tools differently in retrospect to improve your performance for the simulation.