I have gained extensive knowledge in the course that have been impactful and helpful in understanding procurement and acquisition. The most fascinating topics were on bid and proposal process, supplier relationship, third party logistics, solicitation and pricing. Bid and proposals helped me understand the nature, processes and documents used in procurement of goods and services. I got insights on how multinational retail and wholesale corporations such as Walmart find suppliers for their products and services through the in depth information provided on how to contract both primary secondary and tertiary suppliers and subcontractors to enhance supply of quality products, material and services (Turner, 2011).
I was mostly fascinated by the exchange of documents such as the requests for information, requests for quotations and demand for proposals which enable transactions between suppliers and business enterprises. The role of the documents to enhance coordination in request delivery, negotiations and comparisons. Supply relationships has enabled me to learn much about the products, services prices, market supply dynamics, trends, competition, plans and processes pertaining to the suppliers in their line of business and their relationship in procurement and acquisition. Through the topics I can effectively apply procurement activities from initial planning to the closeout.
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Discussions played a critical role in understanding of concepts of procurement and acquisition process. They have allowed a flow of information using local examples and projects which heightened understanding and grasping of concepts useful in procurement (Turner, 2011). The discussion boards which allow peer responses to questions have been a great source of understanding and revelations on procurement processes. Discussions have also eased the pressure of completing projects as an individual which are stressful and tense by providing companionship and knowledge from those with more understanding and working through the complexities as a group which has been assuring and consoling.
Through discussions, the new and complicated matters were simplified to easy, relevant issues. I learnt numerous lessons on new topics which I initially had no clue about or any background and especially on trending and emerging issues in procurement (Turner, 2011). Discussions have also contributed to my social life as through participation and communication with classmates, I have built relationships and social medial connections for support and progress in the society. However, I would appreciate clarification on the pricing models for organizations. Models such as cost models and its types (Turner, 2011) has been the most complex to understand due to its different types and approaches which I believe require in depth focus and explanations to understand.
Apart from discussions, research has also played a significant role in yielding additional valuable information. Through research, I have been able to effectively actualize and place the information availed in this course. For example research in the use of third party logistics and supplier relationship management has been illustrated well other available reading materials and has enable me to be familiarize and apply the concepts in analyzing and performance. I have also practiced reflection on the concepts I have learned and discovered that reviewing the materials of study occasionally helps in grasping the information more deeply compared to other methods.
Reflection provided valuable information on the course as it unveils the hidden meanings and reveals a better understanding on an initial operation with more revelation and understanding (Min, 2015). In addition peer responses. I believe brainstorming will serve as a suitable approach to gaining information on unfamiliar topics to help in collection of facts (Min, 2015). However procurement and acquisition is an excellent course which covers significant and relevant topics and contents that will help me compete competently in procurement field. Through reading, thinking, discussions and reviewing of scholarly articles and journals, I believe the hard work involved is rewarding and purposive now and in the future.
References
Min, H. (2015). The essentials of supply chain management: New business concepts and applications . [ New York, NY]: Pearson Education Ltd .
Turner, R. W. (2011). Supply management and procurement: From the basics to best-in-class . Fort Lauderdale, FL: J. Ross Pub.
