Description
SCH4801 Assignment 2 Memo | Due 30 June 2026. All questions fully answered, QUESTION 1 [19]
QUESTION 1.1
You are a procurement analyst at EcoLite Manufacturing, which produces energy-efficient lighting systems. The organisation plans to expand into new international markets, which requires sourcing new components from reliable suppliers while maintaining product quality and controlling costs. Senior management has tasked your team with reviewing current supplier contracts and identifying sourcing strategies that will support long-term growth, innovation, and sustainability goals. Based on the scenario, which one of the following approaches best reflects the principles of strategic sourcing? [2]
[a] Selecting suppliers based on the lowest quoted prices and signing short-term contracts to ensure flexibility
[b] Skipping market research to speed up sourcing decisions and reduce administrative overhead
[c] Conducting market analysis, evaluating supplier capabilities, and aligning sourcing decisions with the organisation’s long-term strategic objectives
[d] Relocating finished goods warehouses closer to customers in new markets to speed up delivery times
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