Creation of Procurement Scorecard & Written Explanation with Criteria, Sub criteria, and KPIs for Evaluation - Accounting and Finance Assignment Help

Assignment Task

Assignment:

Create a Procurement Scorecard & Written Explanation using the template provided. Include 5 criteria with their relative weights (to total 1.0). Each criteria should have 3-5 subcriteria that further define the requirements. Criteria and subcriteria should be unique and specific to the company/industry depending on its competitiveness.

1. I.e. a company focused on cost may wish to weight cost higher than other criteria
2. I.e. a company focused on quality may wish to “tradeoff” cost with higher quality and this is reflected in the weighting criteria

Other factors to consider:

• Depending on the company values and industry - you may wish to include “certifications/accreditations” i.e. Organic Certification in subcriteria.
• Keep in mind the company values - i.e. LUSH cosmetics has ethical sourcing - there must be some criteria/subcriteria in the scorecard that reflects this.

Evaluation

1% - Creation of Procurement Scorecard using example template. 5 Criteria, 3-5 subcriteria, relative weights

2% - Written explanation - this written explanation should detail the WHY you have chosen the specific criteria, subcriteria, and relative weights. It should be specific, thorough, and well thought out. It should include a sustainability aspect and explanation as it relates to the company’s goal of increasing efforts in this area. Are they focused on ethics, logistics, quality, waste reduction? There should be at minimum 5 complete sections of explanation (1 for each of the main criteria) which explain: the relative weighting, and the specific subcriteria. Written explanation should be 1page in length.

1% - Include 1 KPI per criteria that the Procurement department would like to measure to ensure that the supplier is on-track for evaluation purposes. Ensure that the KPI is specific and relevant to the criteria and the company goals/values.

Example for Written Explanation:

Criteria 1: ____ - Relative Weight: ____

This criteria was weighted __ because of the following reasons (x, y, and z). It is the highest weighted criteria because__. This means that the company values this more and is willing to tradeoff ___ and __. The subcriteria include _____. These subcriteria were chosen because___

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