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    What Is Procurement and Supply Management

    Uploaded by

    Nyeko Francis
    Procurement and supply management involves buying the goods and services that enable an organisation to operate in a profitable and ethical manner.

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    © All Rights Reserved
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    What Is Procurement and Supply Management

    Uploaded by

    Nyeko Francis
    58 views2 pages
    Procurement and supply management involves buying the goods and services that enable an organisation to operate in a profitable and ethical manner.

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    What is Procurement and Supply Management

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    © © All Rights Reserved

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    Procurement and supply management involves buying the goods and services that enable an organisation to operate in a profitable and ethical manner.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    58 views2 pages

    What Is Procurement and Supply Management

    Uploaded by

    Nyeko Francis
    Procurement and supply management involves buying the goods and services that enable an organisation to operate in a profitable and ethical manner.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    What is procurement and supply management?

    What is it?

    Procurement and supply management involves buying the goods and services that enable an
    organisation to operate in a profitable and ethical manner.

    What's involved?

    Responsibilities vary from sourcing raw materials and services to managing contracts and
    relationships with suppliers.

    Why does it matter?

    Procurement is often responsible for up to 70% of companies' revenue, so small reductions in


    costs can have a huge impact on profits.

    A career in procurement is:

    Rewarding

    Organisations can spend more than two thirds of revenue on procurement, so even small cost
    reductions can have a big impact.

    Challenging

    You need to demonstrate a variety of skills, including good business sense, financial
    management, and a flair for communication and negotiation.

    Recognised

    Top buyers are in huge demand around the world and can achieve extremely high positions
    within companies.
    Strategic

    Procurement is aimed at managing the supplier base and maintaining long term relationships
    with suppliers.

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