To be represented in the global market and attain impressive success, a company needs to make sure that the quality of its services is top-notch. However, when growing increasingly large and entering a big number of markets, an organization may lose the track of some of its vital processes. To create a sustainable environment, in which the company could function and prosper, the Company X had to redesign its information management strategy so that the data could be transferred more efficiently and with fewer errors across the supply chain.
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The procurement process in the Company X needs a significant improvement due to a poor choice of the transportation services, which resulted from the necessity of the company to save for the promotion campaign. The drop in the firm’s revenues made 1.6% in the first two weeks and has only been going down the slope since. The adoption of a sustainable strategy aimed at reconsidering the current allocation of resources, however, can be viewed as a sensible step to make in the current situation (Pyzdek & Keller, 2014b).
A closer look at the current procurement process will reveal that the lack of consistency in the transfer of information often leads to delays in the transportation of raw materials and products. As a result, the production process is slackened significantly, which affects customer satisfaction rates negatively. Therefore, it is imperative that the process of procurement should be updated; otherwise, the firm is likely to face a rapid and untimely demise.
When defining the nature of the problem, one must admit that it is rooted deeply in a range of issues, the communication-related ones being the primary problem to address. The lack of proper tools for facilitating a connection between the participants has contributed to the increase in the number of misinterpretations and misunderstandings occurring in the process of materials and products transfer. The fact that the company has expanded into the global market and started using the assistance of partners, including suppliers, only aggravated the issue as the communication tools left much to be desired. Consequently, the speed of data transfer is also impaired significantly, which affects the quality of the services and, thus, brings the rates of customer satisfaction down (Pyzdek & Keller, 2014a).
Another issue that the specified concern suggests resolving is linked closely to the use of modern technologies. Despite the fact that the global supply chain is a large network where one needs time to process the necessary data and transfer it to every single member of the firm involved, modern information tools allow for a significant improvement of the current data management strategy.
Last but definitely not least, the information security issue needs to be addressed as one of the factors that affect the process of procurement and jeopardizes the well-being of the entrepreneurship. Working in the environment of the global economy means keeping the company data as well as the information regarding the stakeholders involved (e.g., the transportation, customers’ personal data, financial reports, etc.). As long as the firm is exposed to the threat of its information being stolen or revealed to the third party, the quality of the procurement process is highly likely to drop, not to mention other complications, including legal ones.
It is, therefore, suggested that a more sensible approach to information management should be created. As a result, the procurement processes will improve significantly. Moreover, the quality of the end product is likely to rise after the redesign of the existing knowledge management tools.
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Pyzdek, T., & Keller, P. (2014a). Building the responsive Six Sigma organization. The Six Sigma handbook (4th ed.) (pp. 3-62). New York City, NY: McGraw Hill Professional.
Pyzdek, T., & Keller, P. (2014b).Project management using DMAIC and DMADV. The Six Sigma handbook (4th ed.) (pp. 213-244). New York City, NY: McGraw Hill Professional.