SCM 303 Lecture Notes - Lecture 18: Profit Margin, Factor Analysis, Project Management
9 Dec 2016
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Procurement is typically focused on relationships between firms. The organization within the firm that is responsible for acquiring goods and services from suppliers, also know as: buying, materials, purchasing, sourcing, supply management. Procurement acts as the legal agent of the company. Empowered to commit the company to contractual obligations. Procurement is usually the sole authorized agent: maverick buying. Going outside the system and committing the company into something they don"t have authority for. 200bc); basis of contract law: verbal (spoken, literal (written) Industrial revolution (early 1800s: basic procedures that are still used today. World wars (1910-1946: finding scarce materials, develop and advance technology, develop suppliers to find needed materials. Provide competitive advantage by driving cost savings for the firm and providing uninterrupted supply of the needed products and services at the right quality by selecting and developing the right suppliers.
