Purchasing and Supply Management

Abstract: Organizational purchasing is the process by which organizations define their needs for goods and services, identify the supplies and suppliers, negotiate supply or trade, make contracts and place orders, and receive and pay for goods and services. The practices and techniques of purchasing depend on whether the organization is in distributive trade, the public sector or the manufacturing industry. The text presents purchasing and supply in three sections: 1) the fundamentals including practice and procedure, storage, stock control, inventory, and coding and classification; 2) practices and techniques including purchase specifications and quality control, market structure, supplier selection, trading and contracts; and 3) management of purchasing and supply through planning, personnel, organization and control.