400-500 words

Many firms consider procurement to be a more strategic function than in the past. Discuss why. Support your answer with examples.

Procurement is considered a more strategic function than before and there are various reasons behind this. The contemporary environment is one that has seen a rise in the number of companies and consequently, for a single product, there is the chance that many suppliers might show up aiming at providing raw materials. It is thus a strategic practice to ensure that a company gets the best quality of supplies and thus the importance of hiring of a procurement officer. The strategy aspect is applied here owing to the fact that the management ought to focus on other activities such as logistics and the procurement officer relieves management of the work. An example of a company that uses procurement is BP (Ujakpa et al, 2016).

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