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Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price.It expands upon traditional organisational purchasing activities to embrace all activities within the procurement cycle, from specification to receipt, payment for goods and services to sourcing production lines where the labor market would increase firms' ROI.
E-procurement (electronic procurement, sometimes also known as supplier exchange) is the business-to-business or business-to-consumer or business-to-government purchase and sale of supplies, work, and services through the Internet as well as other information and networking systems, such as electronic data interchange and enterprise resource planning.
Business administration. Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. [1] The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done.
A Contracting Officer's Technical Representative ( COTR) is a business communications liaison between the United States government and a private contractor. The COTR is normally a federal or state employee who is responsible for recommending actions and expenditures for both standard delivery orders and task orders, and those that fall outside ...
Institute for Supply Management (ISM) is the oldest, and the largest, supply management association in the world. Founded in 1915, the U.S.-based not-for-profit educational association serves professionals and organizations with a keen interest in supply management, providing them education, training, qualifications, publications, information, and research.
Category management is an approach to the organisation of purchasing within a business organisation, also often referred to as procurement.Applying category management to purchasing activity benefits organisations by providing an approach to reduce the cost of buying goods and services, reduce risk in the supply chain, increase overall value from the supply base and gain access to more ...
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