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Purchasing is a functional group that is in charge of the selecting, evaluating, negotiating, buying goods and services to maximise value of the organisation. The supply management on its side deals with a strategic approach. It identifies the requirements of its internal customers (e.g. the requirement from engineering, marketing etc) and acquire those requirements by the effective management of the supply base with the help of cross-functional teams to achieve organizational goals.
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Ross. Purchasing is a practical gathering that is responsible for the choosing, assessing, arranging, purchasing labor and products to amplify worth of the association . The supply management on its side arrangements with an essential methodology. It recognizes the necessities of its inside clients [e.g. the requirement from engineering, marketing etc ) and procure those prerequisites by the viable management of the supply base with the assistance of cross-practical groups to accomplish hierarchical objectives
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Which of the following bullets is not true about the origins of purchasing and supply management?
For supply management to have a strategic focus, supply professionals must have an understanding.
Necessity and objectives of SCM?
Objective of a Supply Chain • Maximize overall value created • Supply chain value: difference between what the final product is worth to the customer and the effort the supply chain expends in filling the customer's request • Value is correlated to supply chain profitability (difference between revenue generated from the customer and the overall cost across the supply chain) • Sources of supply chain revenue: the customer • Sources of supply chain cost: flows of information, products, or funds between stages of the supply chain • Supply chain management is the management of flows between and among supply chain stages to maximize total supply chain profitability
Diffenrences between supply management and supply chain management?
Supply management are the methods of modern corporate or institutional buying. Supply chain management is the management of the flow of goods, including raw materials, inventory and finished goods.
What is the purpose of supply chain management?
The purpose of supply chain management is interconnected between the provision of products and services in what businesses call a supply chain. It can, for example, exist between businesses or business networks.
What is the relationship between supply chain management and operation management?
operations management focuses on on quality dimensions which require knowldge of operations management
