SCLT 2362 Lecture Notes - Lecture 1: Single Source Publishing, State Implementation Plan, Global Sourcing
12 Aug 2015
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Document Summary
Procurement"s historical focus was to achieve the lowest possible cost from potential suppliers; often-times these suppliers were pitted against each other in cutthroat competition involving three or six month arm length contracts awarded to the lowest bidder. Once this lowest bidder was chosen, the bidding cycle would almost immediately start again, and another low bidder would get the contract for the next several months. They reduce the number of invoices, enables you to only make one payment for the total amount of purchases during one month, also allows employees to make purchases in a matter of minutes: discuss three potential procurement objectives. Supporting the organizational goals and objectives, managing the purchasing process effectively and efficiently, and managing the supply base: name and describe the steps in the supplier selection and evaluation process. Identify the need for supply: the situation analysis which include internal factors and external factors.
