"Purchasing & Supply Management"

INF 336

Lori Deere

May 25, 2015

Purchasing & Supply Management

Purchasing and supply management is essential to operational efficiency and is very important in the business world. Organizations cannot be successful without suppliers and supply management in place. There are steps in place such as the creation of project supply, service, and material budget from detailed requirements. The supply management represents the activities that involve the supplier's selection and acquisition of the goods or services. They are responsible for numerous tasks, one of which is the focus on enhancing revenue for the organization. This is important so an organization can increase revenue and potentially decrease costs. Supply management is also...