Procurement - ANSWER Involves obtaining something either tangible (goods) or intangible (services). The process begins by identifying a need and is complete once that need is delivered. It is a strategic function.
tangible - ANSWER capable of being touched; real, concrete
intangible - ANSWER ...
Procurement - ANSWER Involves obtaining something either tangible (goods) or
intangible (services). The process begins by identifying a need and is complete
once that need is delivered. It is a strategic function.
tangible - ANSWER capable of being touched; real, concrete
intangible - ANSWER unable to be touched or grasped; not having physical
presence
Strategic - ANSWER High level planning including setting direction and long term
goals.
A typical Supply Chain - ANSWER Primary - raw materials
, Secondary - manufacturing
Tertiary - services
Each sector adds value.
Supply Chain Definition - ANSWER The infrastructure involved in physically getting
the products and services delivered.
A channel of goods distribution.
Starts with raw material supplier.
Moves through a operational process to the distributor and retailer.
And finally to the customer.
Upstream Supply Chain - ANSWER Supply of raw materials, components, parts etc
that are needed for production.
downstream supply chain - ANSWER the supply chain from the production facility
to the end-customer
Supply Chain Management - ANSWER a management system that coordinates and
integrates all of the activities performed by supply chain members into a seamless
process, from the source to the point of consumption, resulting in enhanced
customer and economic value
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller shantelleG. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
