BUS 371 Lecture Notes - Lecture 3: E-Procurement, Global Sourcing, Outsourcing

• School: Stony Brook University
• Department: Business Management
• Course: BUS 371
• Professor: Jeffrey Coffin

Document Summary

Purchasing obtaining merchandise, capital equipment; raw mats, services, maintenance, repair and operating (mro) supplies in exchange for 11762 or its equiv: key bus funct for acquiring mats, services & equip. Merchants wholesalers and reatilers who purchase for resale. Industrial buyers purchase raw mats for conversion, services, capital equip, & mro supplies. Contracting term for acquisition of services. Supply management term for expanded set of responsibilities of purchasing professionals: institute of supply management identification, acquisition, access, positioning, and management of resources an organization needs or potentially needs in attainment of its strategic objectives . Primary goals of purchasing are: ensure uninterrupted flows of raw mats at lowest total cost, improve qual of finished goods produced, maximize customer satisfaction. Purchasing contrib to objectives by: actively seeking better mats and reliable suppliers, work closely w/ exploiting expertise of strategic suppliers to improve qual and mats, involving suppliers and purchasing personnel in new product design and dev efforts.