Procurement and supply chain management Assignment

Procurement and supply chain management - Assignment Example 23). In the company I work for, we use the supplier selection criteria, which will be explained in the next section. It has been present since the start of the company no matter the new trends that have been emerging of late. This supplier selection is a significant section in our supply chain management. Risk management of any supply chain is an overly complicated subject. Understanding how it works will be very significant to identifying a range of risks that are in the current system and making the necessary recommendations on which of these issues are a priority and how they can be reduced (Giannakisa & Louisb 2011, p. 23). This paper will provide a review of the supplier selection process and make recommendations on how it can be improved. It will use the risk analysis and management framework to identify the risks in the process and make recommendations on how the issues found there can be reduced. The paper will also recommend how to select sustainable suppliers whatever the m eans. Our supplier selection process involves nine elements considered very crucial to the organisation. The elements include (1) specific process capabilities, (2) tough safety procedure, (3) competitive pricing, (4) constant quality improvement, (5) financially stable organisation, (6) stability, (7) culture, (8) alliance experience, (9) strong references. Just a brief explanation of these steps. The company looks at the specific strengths that will ease the process of supplying the goods. This is whether they have the needed infrastructure to supply the goods efficiently such as the right trucks among others. The tough safety procedure includes whether the safety of the workers are guaranteed and whether the goods will reach the business unharmed. Competitive pricing discriminates the supplier in terms of price, who is cheaper and reliable