Supply Chain Management

Supply Chain Management

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Supply Chain Management

Introduction

New Albany became the part of the United Kingdom on 1st October 2013. As a result of this, New Albany needs to be subjected to community regulations and rules of Europe and United Kingdom. Consequently, like every other sector, construction industry of New Albany needs to obey all of the community regulations and rules. The construction of the New Albany will be required to define code of ethics along with the establishment of rules and regulations. The government of New Albany has implemented the existing policy drive of United Kingdom in order to achieve growth. At present, the construction sector is vital for the United Kingdom economy. According to official figures, GDP of Construction has registered a rate of close to 7% annual growth since 2003, a trend that was established in 2008, when he scored a solid growth of around 7.6% and the projection of 2010 is 8.9% (Tyco Electronics, 2003).

The privileged place of the sector goes hand in hand with the fact that one of the engines of economic recovery, especially for its high impact on employment. From 2005 to 2009, on average, the construction industry has generated 8.5% of employment, which is why the state has historically driven its development and growth.

Highly sensitive to the cycle of the economy, historically presented a cycle more pronounced than that of the overall economy, with more rapid growth in the growth cycles of the economy, and very significant drops in production when the economy goes into a cycle more contractionary. This feature of high variability of constructive activity, and the heterogeneity of sectoral output, makes significant fluctuations are recorded on entry and exit of firms in the market, with a significant number of participants unstable over time. The construction sector has exhibited in the last decade, 13.2% of the total number of companies which availed of the bankruptcy law, ranking third after the trade and manufacturing. Thus, the obedience or compliance with the regulations and rules defined by the government of United Kingdom to the government of New Albany will help in ensuring environmentally protected and safe construction plan to the construction industry of New Albany (Tennant, and Fernie, 2010).

Discussion

Potential Impact of the New Requirements

The proposed regulations and rules regarding the provision of effective and efficient construction operations will strengthen the relationships and business dealings with all of the stakeholders in the construction industry of United Kingdom.

Role of Effective Procurement Framework

Procurement management plays a fundamental and indispensable role in every business sector. Similarly, procurement management is significant in construction industry. Changes in the expectations of consumers in the sector of construction related to project delivery, cost, quality and time has affected all of the stakeholders of construction industry to look for novel and improved operational models. There has been great improvement in many non-construction sectors in their procurement processes. Moreover, other business sectors have improved their national productivity through improving their business ...