Article Analysis Paper - Procurement Helps Siemens Deliver Record Profits

Essay from the year 2010 in the subject Business economics - Supply, Production, Logistics, grade: 100.00, University of Phoenix, course: Global Sourcing and Procurement, language: English, abstract: Various organizations seek ways to improve their financial health. Many of these organizations turn to their supply chains in an attempt to identify profit opportunities. According to Burt, Dobler, and Starling (2003), 'Supply management can positively impact the firm's bottom line more than any other business function' (p. 2, para. 2). Among many functions of supply chain management is the function of procurement or purchasing of goods and services from suppliers and vendors. Many strategies exist for organizations to use when procuring goods and services. This paper will examine the purchase and procurement similarities and differences of two organizations, the Siemens Company and Wynn Buick Pontiac GMC. Not only will similar and different procurement strategies be reviewed, recommendations will be offered on how to enhance and improve Siemens procurement function.