Procurement and supply chain management are essential to the success of many companies. It can supply critical support to operations and projects. We find ourselves in an era of continuing globalization and competition, shorter product life cycles and increased risk of supply chain disruption. In many business and industries procurement accounts for more than 55% of overall costs. Supply chain management applies a total system approach to manage the flow of information, materials and services. The focus is on optimizing core activities to maximize the speed of response to changes in customer expectations.
Procurement and supply chain management