Procurement and Supply Chain Management Value Added

Author: (USA) Ellram/L.M. / (USA) Choi/T.Y. / Wang Weiye et al
Publisher:
Publish Date: 2005-01-01
Features: The American Purchasing Supply Professional Association (PSPA), founded in 1915, has become the largest and most prestigious supply management association globally, dedicated to training in the field of purchasing and providing the latest trends in the industry. As a leading professional association for professional development, research, and education, ISM issues the Professional Purchasing Manager (PPM) certification, which is the highest honor in the field of purchasing and supply management, recognized worldwide. Never before has the importance of purchasing and supply management to organizational success been so clearly understood. When significant resources are invested in an organization's purchasing activities, the contribution of purchasing management far exceeds mere cost savings—it can actually add substantial value to the organization.
The main content of this book includes:
- Core issues and considerations in outsourcing and privatization decisions.
- The role of purchasing in lease-buy decision analysis.
- Inventory management issues receiving increasing attention, including the importance of inventory, management of hazardous materials, and waste disposal, economic order quantity (EOQ), and just-in-time (JIT) inventory systems.
- Value-added processes, including value engineering, standardization, avoiding cost waste or cost reduction.
- The importance of early purchasing and early supplier involvement in the development and improvement of products, services, and processes.
- How to achieve value-added through forecasting data; how to develop sourcing strategies through long-term and short-term market forecasts.
- Purchasing and supply management value-added, exploring several purchasing methods to increase organizational contributions and advanced approaches.
The book begins by discussing the choice between outsourcing, leasing, or purchasing, then examines many issues related to inventory management, including inventory classification and deployment. It also elaborates on specific value-added measures, such as standardization, value analysis, early supplier involvement, and target costing. By the end of the book, it discusses how to develop and utilize forecasting data, summarizing specific strategies applicable to various purchasing scenarios.