Assignment 1 Example | Topics and Well Written Essays - 500 words - 6

1 - Assignment Example Financial managers aid in efficient allocation of available resources, thus boosting the procurement function. The involvement allows the various departments to participate, leading to optimal decisions that benefit the organization. This method poses a threat of death on a supplier who fails to deliver the required consignment. Given that no one would want to die, a supplier had to ensure that the goods were delivered on time. Consequently, the method led to the constant and prompt delivery of goods, thus enhancing operations in Sweden. On the other hand, the crude method caused suppliers to fear for their lives, which does not promote good relations in business. Non-performance in modern day can be handled in ways that are more sophisticated. Examples include the cancellation of supplier contracts, and awarding them to other suppliers who can manage to deliver. The skill of negotiation serves a critical role in the field of purchasing. It allows the buyer to bargain for a favorable and lower price, compared to the price being offered by the seller. Therefore, negotiation enables organizations to acquire quality products at considerable prices, which help in reducing costs. Communication also plays a critical role in procurement. It ensures that orders are placed in the right way, and in the right quantities. The skill, further, allows the company to trace the goods, thus ensuring their timely delivery. This leads to customer satisfaction as they acquire goods when and where there need them, without inconveniences. Computer proficiency promotes the ability of an organization to compete successfully in the market, through adoption of technologies that promote the efficiency of an organization. Technological advancements allow a public organization to improve the efficiency of procurement by reducing the costs associated with the process. E-procurement, for example, leads to the employment of a few employees, thus saving on expenses. More to