Introduction

Procurement management emphasises on all processes of product, material, goods and services required for ensuring efficient business operations in a concise manner (Li & Biying 2021). In this report, the core concepts of procurement management to fulfil Bravo Patisserie’s intent of market share increment in case and pastry manufacturing industry in Australia will be defined. The key intention of this report is to define the details of the company’s procurement strategy in terms of identification, sourcing, assessment as well as managing the external resources for launching the new products and becoming a leading brand in the mentioned industry. In order to fulfil this aim, the critical aspects of covering the procurement requirement and strategy for the organisation’s growth will be demonstrated. Fulfilling the core requirements of procurement will be discussed in the report after demonstrating the company’s background, equipment requirements, and procurement strategy.

Procurement management has a direct impact on an organisation’s strategic business operations (Mena, Remko & Martin 2018; Benchekroun, Zoubida and Hanaa 2019). Therefore, the strategy discussed here will provide a clear demarcation of procurement management. Classification of procurement needs in different categories including equipment and ingredient, manufacturing, commercial refrigeration, point of sale, as well as display cabinetry equipment will be depicted. Recent researches depicts that demand forecast is important for checking whether or not a product or service is feasible (Liang et al. 2021; Bag et al. 2020). Likewise, in this report, clear approach of demand forecasting will be demonstrated to depict average selling price, purchasing budget and others based on which calculation of estimates will be defined. Exploring different opportunities related to the context of procurement alongside reducing total cost to increase the factor of competitiveness will be emphasised in the report for better demarcation. Some options that can be considered to improve the procurement related aspects such as recognition, purchase requisition, reviewing requisition, order management, invoice approval, order management and record keeping will be focused in the report.