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MNP3701 study notes
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MNP3701 study notes Detailed work, solutions, memos, notes, and explanations
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MNP3701study notes
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Short
overview
, lOMoARcPSD|13093512
Study unit one
• Strategic purchasing : is the process of planning implementing
evaluating and controlling strategic and operating decisions for directing
all activities of the purchasing function towards opportunities consistent
with the firms capabilities to achieve its long term goals
•Supply management: is like a management function…is the
identification, acquisition, access, positioning and management of
resources and related capabilities and organization needs or potentially
needs in the attainment of its strategic objectives.
•Supply chain management: encompasses the planning and
management of all activities involved in sourcing and procurement,
conversion, and all logistics management activities. It includes
coordination and collaboration with channel partners, which can be
suppliers, intermediaries, third-party services providers and customers.
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Purchasing: is the systematic process of deciding what, when and how
much to purchase, the act of purchasing it and the process ensuring that
what is required is received on time in the quantity and quality specified.
Value chain: Interlinked value-adding activities that convert inputs into
outputs which, in turn, add to the bottom line and help create competitive
advantage. A value chain typically consists of inbound distribution or
logistics, manufacturing operations, outbound distribution or logistics,
marketing and selling and after-sales services. These activities are
supported by purchasing or procurement, research and development,
human resource development and corporate infrastructure.
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