Back to School Offer

Get 20% of Your First Order amount back in Reward Credits!

Get 20% of Your First Orderback in Rewards

All papers examples
Get a Free E-Book! ($50 Value)
HIRE A WRITER!
Paper Types
Disciplines
Get a Free E-Book! ($50 Value)

Procurement Contracts Risks, Essay Example

Pages: 1

Words: 368

Essay

Risks are common place phenomena in every business setting. In this regard procurement contracts are therefore not an exemption. The risks in the procurement contracts in most cases emanate from the supplier and trickles down the chain to the buyer. However in some situations the supplier might face risks that may arise from the buyer. There is need for the procurement officer to conduct a proper risk evaluation process to solve the various risks in the process.

As a procurement officer I have experienced some of the following risks; long lead times due to suppliers failure to deliver the goods in time which in turn affects the production process in the organization. I have experienced risks that emanate from delivery of low quality goods, defective goods or supply delivering the wrong type of good. This case affects the production process and results to loss of money by the organization. Defective and low quality goods are not able to match the production requirements that set by the organization and hence loss of money (Caldwell, & Roehrich, 2009).

The other risks have experienced is that some suppliers are fraudulent people, especially the suppliers that you meet for the first time. Most of these suppliers deliver the invoice note to the organization before the actual arrival of the purchased goods and there after claim for payment before the goods arrive. On the arrival, the goods received are usually less than those paid for in the invoice (Lewis, & Roehrich, 2009).

There risks that may not be blamed on either supplier or buyer such as logistics difficulties that emanate from transport problems such as road jams and accidents. However the buyer and the supplier should ensure proper arrangement for the delivery process to avoid such cases.

From my experience as a procurement officer, the risks in procurement contracts emanate from the supply side of the contract and therefore a procurement officer should be very carefully when dealing with suppliers.

References

Caldwell, N., & Roehrich, (2009). Procuring complex performance in construction: London Heathrow Terminal 5 and a private finance initiative Hospital. Journal of Purchasing and Supply Management.

Lewis, & Roehrich, (2009). Contracts, relationships and integration: Towards a model of the procurement of complex performance. International Journal of Procurement Management, 2(2):125-142.

Time is precious

Time is precious

don’t waste it!

Get instant essay
writing help!
Get instant essay writing help!
Plagiarism-free guarantee

Plagiarism-free
guarantee

Privacy guarantee

Privacy
guarantee

Secure checkout

Secure
checkout

Money back guarantee

Money back
guarantee

Related Essay Samples & Examples

Prevent terrorist strikes on American soil, Essay Example

Goal, Objectives, and Strategies The Department’s goal is to protect the homeland by thwarting terrorist threats and implementing emergency plans. These are the Department’s top [...]

Pages: 1

Words: 412

Essay

Science and Technology and Nation-Building, Essay Example

Science plays a pivotal role in technology. The combination of science and technology (S&T) results in the development of new knowledge used to improve human [...]

Pages: 3

Words: 768

Essay

Plato’s Portrayal of Socrates and the Historical Socrates, Essay Example

Socrates, the Athenian philosopher, changed how philosophers thought about the world. However, modern audiences believe that Socrates did not write any of his ideas down [...]

Pages: 5

Words: 1285

Essay

Narratives That Shape Our World, Essay Example

The context and the values in the text Othello by William Shakespeare have shaped me in perspective through the main character Othello. I perceive life [...]

Pages: 6

Words: 1574

Essay

Cyber Security Career Path, Essay Example

Background The field of technology is quite intriguing. It’s fascinating to see how different technologies operate and what they have in common. It amazes me [...]

Pages: 7

Words: 1796

Essay

Impacts of Wildfires on Us GDP Growth, Essay Example

Abstract When there are significant wildfires, the lives of workers, their families, and their employers are all affected. However, firefighting and repairing the damage may [...]

Pages: 19

Words: 5176

Essay

Prevent terrorist strikes on American soil, Essay Example

Goal, Objectives, and Strategies The Department’s goal is to protect the homeland by thwarting terrorist threats and implementing emergency plans. These are the Department’s top [...]

Pages: 1

Words: 412

Essay

Science and Technology and Nation-Building, Essay Example

Science plays a pivotal role in technology. The combination of science and technology (S&T) results in the development of new knowledge used to improve human [...]

Pages: 3

Words: 768

Essay

Plato’s Portrayal of Socrates and the Historical Socrates, Essay Example

Socrates, the Athenian philosopher, changed how philosophers thought about the world. However, modern audiences believe that Socrates did not write any of his ideas down [...]

Pages: 5

Words: 1285

Essay

Narratives That Shape Our World, Essay Example

The context and the values in the text Othello by William Shakespeare have shaped me in perspective through the main character Othello. I perceive life [...]

Pages: 6

Words: 1574

Essay

Cyber Security Career Path, Essay Example

Background The field of technology is quite intriguing. It’s fascinating to see how different technologies operate and what they have in common. It amazes me [...]

Pages: 7

Words: 1796

Essay

Impacts of Wildfires on Us GDP Growth, Essay Example

Abstract When there are significant wildfires, the lives of workers, their families, and their employers are all affected. However, firefighting and repairing the damage may [...]

Pages: 19

Words: 5176

Essay

Get a Free E-Book ($50 in value)

Get a Free E-Book

How To Write The Best Essay Ever!

How To Write The Best Essay Ever!