Fundamentals of Procurement and Supply Chain Management

Fundamentals of Procurement and Supply Chain Management provides students with an understanding of the key principles of procurement and supply chain management. It begins by introducing students to the procurement function – its importance, its objectives, and its ever-changing role in businesses. By understanding strategy, students can uncover the strategic role that procurement plays within a business – in particular, by affecting its competitive position and profitability. The procurement management process is further outlined, alongside a discussion on procurement policies. Students will then explore the various components of the supply chain, to understand the objectives of supply chain management. The book goes on to outline supplier relationship management, in addition to the different activities involved in logistics. Furthermore, the role of quality control is highlighted as a vital component in supplier relationship management, as it serves to drive excellence and add value to the business. The title concludes with a discussion on sourcing, which is another fundamental element of the supply chain activity, and can ultimately impact the success of a business.