Blog tagged as procurement

Why Porter’s Five Forces is important in Supply Chain Porter's Five Forces of Competitive Position Analysis is a model of pure competition which implies that risk-adjusted rates of return should be constant across firms and industries. Michael Porter developed this in 1979 as a simple framework for ...

Spend management is the method in which companies may optimize and control their budgets by way of what fund are spent. It usually involves cost trimming of those expenses typically found in conducting business. The costs usually appear as operations expenses, or are categorized as "Selling, Ge...

DEFINITION: Planning, implementing, and controlling efficient and effective flow and storage of goods and services from point of origin to point of consumption to conform to customer requirements. LOGISTICS MANAGEMENT: Managerial responsibility to design and administer a system to control the flow o...

Nearly every business will go through a supplier to purchase products. However, many people do not realize how serious this process is, and that there are actually full-time jobs in procurement and supply chain management. These jobs can be pretty exciting for people who enjoy working with others, a...