Project 1: My Core Belief – Transparency

Wedmaier Thenor

University of Maryland Global Campus

PRO 600 9045

Professor Rajput

July 20, 2021

My Core Belief: Transparency

1st submission (20 July, 2021)

Project 1: My Core Belief – Transparency

Transparency in the acquisition and procurement field refers to the full disclosure of information regarding the purchasing and supplies process. This information is often shared with team members, suppliers, and other stakeholders. It touches on the system elements, procurement methods, the adopted evaluation criteria, the rights of suppliers, and technical specifications. When the purchasing process is transparent, everyone has access to any needed information at any time. By embracing transparency, I have increased efficiency for all stakeholders by reducing the time taken to access, analyze and make decisions on specific data. I have also been able to incorporate key members in the supply chain enabling viable managerial decisions. When key parties are brought on board in any business, information regarding buying or approving is often known, making the purchasing function a seamless undertaking.

Transparency in organizations enables processes and procedures to be monitored and evaluated. It came forth as organizations realized the need to deal with leakages and inefficiencies due to a lack of proper documentation and accountability. Most businesses were losing revenue since the supply chain process was not appropriately defined. There were no specific persons accountable for delays, and inadequacies that were being experienced, making the acquisition process challenging to monitor and control. By embracing transparency, I have understood the need to create a workable link in the procurement process, where information can be shared with minimal hitches when needed. This has made me aware of the importance of information sharing in increasing the capabilities and competitiveness of an organization by dealing with leaks, delays, and inconsistencies in the procurement process. I have applied transparency in my acquisition and procurement career in the tendering and

Project 1: My Core Belief – Transparency

purchase of company goods. As a result, I have seen increased innovation through information sharing and improved brand reputation for my organization.

Information hoarding limits employee engagement in issues that can be of great importance to the business. This is especially the case for persons that have a lot of institutional knowledge. By providing a platform where employees collaborate and share information, problems will be solved effectively. I have realized that I can build trust with the company leadership and fellow employees by providing relevant information. This has contributed to shaping the organizational strategy by directing focus on the best company practices. Transparency has also changed my perception of supply chain management, as it is not about providing information regarding buying products and services passé. I understand that control measures should be considered, such as monitoring and evaluating the purchase process to avail accurate data for strategic decision-making. I also appreciate transparency in the tendering process, interviewing, and selecting suppliers as the best contractors are selected, enhancing seamlessness in supply chain operations.