StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

PURCHASING PRACTICES - Assignment Example

Cite this document
Summary
To successfully purchase machinery for our company from China, there are a number of critical factors that may come into play. The three critical success factors in our case are economic,…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.4% of users find it useful
PURCHASING PRACTICES assignment
Read Text Preview

Extract of sample "PURCHASING PRACTICES"

Purchasing Practices: Critical Success Factors Unlike domestic purchases, international purchases are affected by numerous factors. To successfully purchase machinery for our company from China, there are a number of critical factors that may come into play. The three critical success factors in our case are economic, cultural and political in nature. Economic factors that come into play include exchange rates, tariffs, inflation and level of competition (Ellram). The exchange rate between the Canadian dollar and the Chinese Yen determines the cost of purchasing and transporting the purchased commodities.

If the exchange rate is unfavorable, there is a likelihood that we may be forced to cancel any purchases or reduce the quantities purchased. In purchasing commodities from China, we will need to adjust the value of the items for inflation both in China and in Canada. This could significantly adjust the value of the items. China and Canada have different cultures and trade practices. Business etiquette in China is heavily based on Chinese culture and if we are to complete and business, we have to adhere to the rules of engagement.

China’s government has a significant say on the manner that business is conducted within the country. At the moment, there is a relatively open policy that encourages international businesses to engage in business transactions with their local companies. It is thus expected that we will face little opposition from the authorities if we were to purchase the items from a Chinese supplier. Furthermore, there are reduced tariffs on purchases made from china and this should help reduce the cost of the purchases (Ellram).

Works CitedEllram, Lisa M. "Key Success Factors and Barriers in International Purchasing Partnerships." Management Decision 29.7 (1991). Print.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“PURCHASING PRACTICES assignment Example | Topics and Well Written Essays - 250 words - 1”, n.d.)
PURCHASING PRACTICES assignment Example | Topics and Well Written Essays - 250 words - 1. Retrieved from https://studentshare.org/professional/1683839-purchasing-practices-assignment
(PURCHASING PRACTICES Assignment Example | Topics and Well Written Essays - 250 Words - 1)
PURCHASING PRACTICES Assignment Example | Topics and Well Written Essays - 250 Words - 1. https://studentshare.org/professional/1683839-purchasing-practices-assignment.
“PURCHASING PRACTICES Assignment Example | Topics and Well Written Essays - 250 Words - 1”, n.d. https://studentshare.org/professional/1683839-purchasing-practices-assignment.
  • Cited: 0 times

CHECK THESE SAMPLES OF PURCHASING PRACTICES assignment

What is Toussaint's Overall Strategy for ThedaCare

This assignment "What is Toussaint's Overall Strategy for ThedaCare?... The assignment analyses a leadership Toussaint role in the two statewide information initiatives.... nbsp;The assignment discusses the challenges facing ThedaCare in 2007.... assesses ThedaCare's approach to process improvement....
4 Pages (1000 words) Assignment

Long-Term Relationship

The paper “Long-Term Relationship” evaluates contract financing, which is very important to contractors and payments on individual contracts are visible to individuals who are in those government departments and are charged with monitoring contract compliance.... hellip; The author states that contract financing is the disbursement of monies to a contractor under a contract clause or other authorization prior to acceptance of supplier or services by the government....
7 Pages (1750 words) Assignment

Website Analysis

ase of PurchaseThe purchasing method is smooth and flawless.... Moreover, the categories are also easy to understand so that the customer can always find what he wants to buy easily. The mission statement… From what was understood, their mission statement is to encourage people to find entertainment and fun in wilderness and nature. Co-ops are business structures which are based on Practice Website Analysis Organization/Consistency The information provided by MEC – Mountain Equipment Co-Op is engaging and invites s enough information to indulge in a sale....
2 Pages (500 words) Assignment

Competitive Dimensions of Operations and Supply Chain Strategies

An investigation of the relationship between supply chain management practices and competitive advantage of the firm 1(4), 01-13.... purchasing, Supply Chain Management, and Sustained Competitive publication, 48(2), 3-6.... In between them are a number of logistic activities that ensure the satisfaction of both the producer and the consumer....
1 Pages (250 words) Assignment

Purchasing Power Parity

In the journal, “An Empirical Test of purchasing Power Parity in Selected African Countries - a Panel Data Approach,” the author discusses the applicability of the purchasing Power Parity theory in selected African countries.... Mkenda has a vast focus… The paper aims at testing whether the real exchange rates that are depicted are mean reverting or not. In the article, the author goes through a number of selected African countries, pointing out the application of the purchasing Power Parity....
2 Pages (500 words) Assignment

Final refluction

The three most fascinating “aha moments” I had were the Supply Chain Management and Pricing strategies that involves planning, managing and controlling all activities that deal with sourcing, procurement and the whole process of purchasing goods.... I enjoyed all the topics and it is difficult for me to choose the most interesting ones....
1 Pages (250 words) Assignment

Purchasing in Hospitality Operations

This study “Purchasing in Hospitality Operations” deals with a significant aspect of a commercial transaction in the hospitality industry- procurement policies and practices.... hellip; The author states that ordering practices are in conformity and allegiance with the present ordering norms laid down and the guidelines that are being issued by our hotel's management from time to time.... “An integrated purchasing system can help your property: Take full advantage of enterprise buying power to secure better terms and prices from Suppliers, improve inventory management and reduce waste by better monitoring supply levels, provide managers and employees with fast access to information to help them better server guests” (purchasing systems solutions....
7 Pages (1750 words) Assignment

Strategic Planning and Control

In the assignment, we were given a task to play a game called "run a company and make more profit".... Every member of the group played this game, and their goal was to run a company and earn high profits.... Each member of the group played this game.... nbsp;… According to the study, Strategic Planning and Control, in this game, every member was given a company in which that individual had to take decisions to perform various tasks of the company in order to achieve the goals of that company....
12 Pages (3000 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us