Tag: Purchasing

Purchasing is the tactical part of Procurement and involves all of the transactional activities associated with buying goods and services.

What Exactly Is Supply Chain Management? 10 Different Definitions!

What Exactly Is Procurement? And What is Purchasing?
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When I began my  career there was no such thing as “Supply Chain Management“.  Supply Chain was not a title to be found anywhere on any organization chart.

Yet all of the functions that we now associate with Supply Chain have been around for a very long time:  Planning, Inventory Management, Logistics, Procurement and Purchasing, Warehousing and many more.

So what exactly is the definition of “Supply Chain Management”?  Interestingly there are many views on how to define Supply Chain.

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Manage Procurement Spend Like It’s Your Own Business!

Procurement and Procurement Spend. Purchasing. Commodity Management. Category Management.

They are all running their own businesses within their companies, or at least they should be, whether they realize it or not.

Goods and services spend in many companies is the largest, or one of the largest, expenses. And all of this is managed by Procurement personnel.

But do they manage this spend like it is their own business or do they manage it like it is just a functional job with transactional activities to be performed?

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