Identifying and Managing Risks in Wheat Procurement for a Flour Manufacturer in Vietnam
Tran, Nga (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024053118963
https://urn.fi/URN:NBN:fi:amk-2024053118963
Tiivistelmä
The Thesis focused on Risk Management and determining the factors that impact the company’s Procurement process. The objective of this Thesis is to build and develop a Risk Management Plan for the company to understand and prevent risks in wheat procurement to a flour manufacturer in Vietnam. Such a plan should help to minimize wheat supply disruption, reduce costs and optimize flour consumption.
The study is based on the Applied action research approach and the qualitative methods of data collection such as analysis of internal documents, interviews, surveys, discussions and meetings with the key stakeholders and management. The conceptual framework focused on the topics of risk management in procurement. The results of the current state analysis of the current Risk Management process pointed to the lack of critical documents and the need to revise the current approach.
The outcome of the is a Risk Management Plan for the Procurement process, including three steps of the Inputs, Risk Management approach (a process), and the Outcomes which include a Risk Management Plan (a document) with the crucial elements (tools & techniques), and the Risk cards, Risk Report, and the Risk Log. The final proposal was validated by key stakeholders in the company and will be implemented in future.
The case company will benefit from better understanding the risks to be mitigated. The proposed ideas, methods, and strategies were encouraged by the management to be used in the case company’s practices.
The study is based on the Applied action research approach and the qualitative methods of data collection such as analysis of internal documents, interviews, surveys, discussions and meetings with the key stakeholders and management. The conceptual framework focused on the topics of risk management in procurement. The results of the current state analysis of the current Risk Management process pointed to the lack of critical documents and the need to revise the current approach.
The outcome of the is a Risk Management Plan for the Procurement process, including three steps of the Inputs, Risk Management approach (a process), and the Outcomes which include a Risk Management Plan (a document) with the crucial elements (tools & techniques), and the Risk cards, Risk Report, and the Risk Log. The final proposal was validated by key stakeholders in the company and will be implemented in future.
The case company will benefit from better understanding the risks to be mitigated. The proposed ideas, methods, and strategies were encouraged by the management to be used in the case company’s practices.