(Solution) (AC3.4) Reflect on the impact of your continuing professional development activities on own behaviour and performance

In this first project in Corporate Award Program, the focus has been on role of procurement supply and management (PS&M) responsibility in achieving value for money outcomes. This is through the focus on Saudi Aramco third party logistics spend category. Also, a review on the current approaches to management of prices and costs for the third party logistics spend category has been identified. This is by using different data and information from contracts management,  procurement, commercial-driven development, strategic sourcing and PS&M practices. Also, different models have been used including Mendelow, Kraljic matrix, Porter’s 5 forces, STEEPLED and Suppliers Preferencing model. The key findings obtained in this project include the view that Saudi Aramco engage multiple stakeholders for successful practice. Also, the key findings evidence their market environment as competitive hence success in achieving value for money outcomes. The organisation strategy of achieving value for money outcomes has similarly been identified. This is with its pros and cons enhancing or limiting a successful implementation established. From the findings and conclusions, various recommendations have been generated which include;

• An in-depth evaluation of positioning of all stakeholders for accommodating their interests in their operations
• In third party logistics, they can involve multiple sourcing to be competitive hence value for money
• To involve different specialists for gaining awareness on improving value for money
• Review of budget in sourcing third party logistics with technology involved in sourcing process.

Solution Primary Research Methods; Justifications and Limitations In modern research works, obtaining primary data could be two-sided (qualitative or quantitative).