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Write a briefing paper to the corporation’s executive committee that documents the transformation of procurement to a more strategic sourcing role, based on a chosen corporation. The paper will include best practices that enable that transformation as well as the risks and challenges encountered. This project will be addressed in the three following parts:
Part I: Global Trends Driving Changes in Procurement Practices (1500 words)
Critically analyse research on key factors and business drivers associated with the global trends across the procurement life cycle.
Provide rationale for how these trends will apply to your chosen corporation.
Part II: Competencies for Organisations and Strategic Sourcing Professionals (2000 words)
Critically analyse, with supporting rationale from the research, the core competencies required for your chosen corporation to transform its purchasing and procurement processes to a competitive strategic sourcing position.
The analysis should also address the desired competencies for sourcing professionals who have the knowledge and skills to support that transformation.
Part III: Transitioning to Strategic Sourcing Processes (1500 words)
Recommend the steps your chosen corporation should take to implement strategic sourcing processes.
Include the metrics that should be used to evaluate the performance of these processes.
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