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Unformatted text preview: SCM 371 Notes - Procurement and Supply Management procurement - tactical, operation, day-to-day activities purchasing - sourcing - long term, strategic supply management - can mean any of the above--- End of Day 1 ------ Day 2 --- Introduction to Procurement and Supply Management Why is procurement and supply management important? The evolution of procurement and supply management Supplier Summit - annually- keeps suppliers informed on the companys goals and initiatives for the next year- passes on best practices to supplier and encourages same best practices to suppliers suppliers Resource-Based View (RBV) of the firm Valuable Rare Inmitable Non-substitutable strategic alignment cross-functional strategic orientation Supply base management process-driven approach Enablers- HR- Organizational Design purchasing has more and more of a higher-level standing in the hierarchy as its goals become strategic- IT- measurement Why is procurement and supply management important? managing, reducing cost negotiating Their Purchase and Disposition (1887) 1900-1947 purchasing important for wars 1947-1960s neglected stepchild of the company 1970-1980 commodity shortages, oil crisis, inflation quantity creative approaches standards, norms were developed 1980s shorter product life cycles 1990s offshoring, outsourcing 2000s IT, recession Evolution of Supply Chain Management Objectives of PSM...
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This note was uploaded on 12/29/2011 for the course SCM 371 taught by Professor Tobias during the Fall '11 term at Michigan State University.
- Fall '11