Discuss fully the principle of Acquisitions Management. What is most Research Paper

Discuss to the full the principle of scholarships Management. What is virtually important What do you think will become more important ove - seek Paper ExampleCombining the activities of material management does not merely represent a bilinear chain of one-on-one pedigree relationships, but a web of multiple business ne tworks and relationships Min, Zhou 2002 qtd. in Sliwczynski, 2012 The main principle of science management is to make strategical purchases or sourcing that is based on a reasonable set of criteria. While these criteria may vary from industry to industry, good acquisition management invariably require the decision to purchase or acquire to be as sound as workable (Leenders et al., 2006). Sound criteria behind a good purchase decision ranges from favorable negotiated price, good quality of sourced materials and deduction of its availability and price in the future. What is most important? The principles of acquirement Management are continually reshaping as business and the economic landscape of which it operates continuously change. The primary principle of encyclopedism Management as a mere operational function to obtain the necessary resources to make the products or render the services of a social club is already inadequate with the new economic landscape. Thus, the principle of acquisition management as a mere procurement lance has now evolved as a strategic tool which is now the most important principle in the new economic landscape of business. It is no longer enough that business organizations acquire the necessary economic resources for the operation of the fellowship and ensure its availability. Rather, the quality, cost and timeliness of materials that will be acquired should also enhance the companys competitive advantage. The process of acquiring resources itself should bring about strategic competitiveness to the business organization which when combined with the materials procured, will reduce not except the cost as sociated with acquisition but also the reduction of price of its materials inventory at a quality that is consistent with the companys commitment to its customers. While the dynamics of the economic landscape of which Acquisition Management is applied, principles of acquiring resources at a lower price, better quality and availability will not change regardless of the ever-changing modalities which acquisition is processed. What do you think will become more important over the next two decades? Integration of electronic procurement in Acquisition Management One of the major changes in Acquisition Management is the enhancement of its role in business organization from a mere operational tool to acquire the economic resources necessary for business to operate and to process its products and services. Acquisition Management is now a strategic implement of business organizations to edge out competitors and ensure its viability on a long term. Acquisition Managements typical role to mere ly procure resources (material, process and manpower) for the organization as a mere operational function is now being used to leverage as a companys competitive advantage and as a risk management strategy. Procurement or Acquisition Management is now being used as a competitive advantage not only in terms of getting the necessary resources for the operation of the business either to create product or services but also as a strategy to enhance the comp