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Construction Economics and Estimating
Introduction
This essay is a discussion based on a case study of an acrylic manufacturer known as JTW. The paper focuses on procurement of suppliers for liquid monomer, which is a major raw material in the manufacture of acrylic for the development of airplane parts. The case study focuses on two available international suppliers of liquid monomer on large-scale basis. There is a closer supplier, known as MP products, but the firm cannot meet the great demand by JTW. Therefore, this paper focuses on the route towards acquiring the right bidder for supplying a raw material. The head of procurement will need to consider focusing on a number of professional approaches that will make it easier to avoid mistakes that might lead to higher production costs for the organization. Therefore, this paper focuses on the required criteria followed when selecting supplies based on the case study, comparing the use of direct contact and competitive tendering.
Objectives for Vasseem to Achieve
The head of procurement at JTW (Vasseem Ibraham) has a number of objectives to achieve before compiling a report for his senior managers. The following four objectives are of great importance to Vasseem, if he is to negotiate directly with the suppliers:
I) Cost
The first important objective for the head of procurement is to determine the unit cost of liquid monomer from each supplier.