Read the extract below and answer the questions that followProcurement a powerful economic tool, says new Woolies execJohannesburg $-$ Procurement Chief at Woolworths Yogan Naidu is passionate about innovation, equality, and job creation in South Africa. After just eight months as head of Non$-$Trade Procurement, he has made significant contributions to the leading retailer's transformation objectives. People tend to misunderstand the role of employees in procurement and underestimate the power and abilities that they possess. It is also a misunderstanding that the role is just about looking at quotes and securing items, he told Fin$24.$ "There is a huge opportunity for producers to level the playing fields in business. $"$ He said Procurement Heads in large companies around the country had the power to create employment, fight poverty and positively shift the South African economy through securing products and services of small black$-$owned companies as well as small and medium enterprises.As an independent consultant, Yogan Naidoo has requested your services in putting together a procurement strategy for Woolworths that will be aligned to the companys vision and mission. You are expected to highlight several areas the company should focus on to ensure they remain relevant and successful in the market. The following subjects should be addressed in the report that will be submitted to Yogan Naidoo and his team. $1\mathrm{.}2$ Analyse the components of a procurement strategy and offer recommendations regarding which strategy or strategies the organisation should pursue. Provide well$-$founded justifications for the recommended approaches. $(20)$Students should prioritise the following when answering the question,$$Providing the relevant content for the question including defining the procurement strategy.Making use of relevant examples and illustrations and provide for the relevant strategies to be utilised.Answering the question in the context of Woolworths.NB: provide Harvard referencing on your answers with sources not older than $5$ years