The purchasing management process - Purchasing management process
3 important questions on The purchasing management process - Purchasing management process
Analogous to the management cycle, the following successive elements are identified in managing purchasing and supply and are part of the Purchasing Management process...
1. Purchasing and supply (market) research;
2. Determing purchasing and supply objectives;
3. Determing purchasing and supply strategy;
4. Action planning;
5. Implementation;
6. Control and evaluation.
Where do purchasing objectives relate to?
Based upon the company's overall objectives, purchasing objectives will relate to reduction, reduction of the supplier base, improving product quality, lead - time reduction and so on. Through these objectives the company directs, manages and controls its purchasing activities and relationships with suppliers.
Why do purchasing management have to control and evaluate?
Purchasing management must see to it that both results and activities that have been planned are realized within the available financial resources. To this end the actual performance, obtained through purchasing activities, must be periodically through vender performance and suppliers should be checked periodically through vender performance reports.
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