Search results for keyword: procurement
Material purchase price selection
Introduction
Material procurement is an important component of any production process. Price is an important determinant of material to be purchased. As such, it is important for businesses to select materials at optimal prices to maximize profit margins. This paper analyzes the strategies and co......
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Sophia
Porter Value Chain Analysis Model
Value Chain Analysis
Value chain analysis is a tool which businesses can use to identify their current competitive advantage and how they can devise greater competitive advantage and resources. This tool was pioneered by Michael Porter. The value chain analysis is a way of analyzing to determine......
Purchasing Quality Management
Purchasing Quality Control
Purchasing quality control refers to the process of ensuring that products and services purchased by a company meet required specifications before they are used or sold to customers. Quality control can be implemented in a variety of ways during the purchasing process t......
Price Comparison Purchasing
Bidding for procurement
procurement is all about getting the best deal possible for any goods or services.Bidding is one of the most common methods used by buyers to select a supplier. This particularly applies in procurement, because bidders are competing on price and the lowest price usually wi......
creative buyer
Creative procurement
Creative procurement is defined as applying innovative, creative strategies to the purchasing process. It entails looking outside the current supply chain and exploring new ways to source products and services and build supplier relationships. For buyers, this can result in c......
Strategic Sourcing
Strategic procurement
Strategic procurement is an umbrella term that covers a range of activities aimed at optimizing a company’s spending on external services and products, as well as its relationships with suppliers. Strategic procurement involves the setup of a strong and resilient supply cha......
purchase cost
Purchasing Cost
Purchasing cost is one of the most important parts of business. It refers to the money that is spent on materials, services, and financing costs associated with purchasing items for organization. It includes the cost for ordering and handling the material, receiving and inspection......
purchasing agent
Purchasing Agent
A Purchasing Agent is a person who works in the field of procurement, which is the purchasing of goods, materials and services for a company or organization. They act as a bridge between the company and its suppliers, and as such, must have a thorough knowledge of the products an......
Purchasing agent
A purchasing agent is responsible for the procurement of goods and services from the most cost-effective supplier who can offer quality products and services. The purchasing agent typically has extensive knowledge of the industry, and can assess the value of the goods and services between differe......
Purchasing Management
Introduction
Purchasing management is an important part of the overall supply chain management. It is a process that encompasses the sourcing of goods, services and materials from suppliers in a timely manner and at a cost-effective price. The purchasing management process involves both the selec......
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