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Corporate Sourcing
Corporate sourcing refers to a system where divisions of companies coordinate the procurement and distribution of materials, parts, equipment, and supplies for the organization. This is a supply chain, purchasing/procurement, and inventory function. This enables bulk discounting, auditing, and Sarbanes-Oxley compliance. Duties of a corporate sourcing agent include: #Coordinating all activities related to procurement Procurement is the method of discovering and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or serv ... of a commodity beginning with intent to purchase through delivery #Analyzing the requirements of the commodity, including preliminary specifications, preferred supplier, and date commodity is needed #Soliciting and evaluating proposals for the requested commodity. Investigating and/or interviewing potential suppli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procurement
Procurement is the method of discovering and agreeing to terms and purchasing goods, Service (economics), services, or other works from an external source, often with the use of a tendering or competitive bidding process. When a government agency buys goods or services through this practice, it is referred to as Government procurement, public procurement. Procurement as an organization, organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and fluctuations in the prices of goods. Organisations which have adopted a corporate social responsibility perspective are also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply Chain
In commerce, a supply chain is a network of facilities that procure raw materials, transform them into intermediate goods and then final products to customers through a distribution system. It refers to the network of organizations, people, activities, information, and resources involved in delivering a product or service to a consumer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product and delivering the same to the end customer. In sophisticated supply chain systems, used products may re-enter the supply chain at any point where residual value is recyclable. Supply chains link value chains. Suppliers in a supply chain are often ranked by "tier", with first-tier suppliers supplying directly to the client, second-tier suppliers supplying to the first tier, and so on. Overview A typical supply chain begins with the ecological, biological, and political regulation of natural resources, followed by the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing
Purchasing is the process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations. Purchasing is part of the wider procurement process, which typically also includes expediting, supplier quality, transportation, and logistics. Details Purchasing managers/directors, and procurement managers/directors guide the organization’s acquisition procedures and standards. Most organizations use a three-way check as the foundation of their purchasing programs. This involves three departments in the organization completing separate parts of the acquisition process. The three departments do not all report to the same senior manager, to prevent unethical practices and lend credibility to the process. These departments can be purchasing, receiving and accounts payable; or engineering, purchasing and accounts paya ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inventory
Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials. The concept of inventory, stock or work in process (or work in progress) has been extended from manufacturing systems to service businesses and projects, by generalizing the definition to be "all work within the process of production—all work that is or has occurred prior to the completion of production". In the context of a manufacturing production system, inventory refers to all work that has occurred—raw materials, partially finished products, finished products prior to sale and departure from the manufacturing system. I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bulk Discounting
Bulk can refer to: Industry * Bulk cargo * Bulk liquids * Bulk mail * Bulk material handling * Bulk pack, packaged bulk materials/products * Bulk purchasing * Baking * Bulk fermentation, the period after mixing when dough is left alone to ferment in bulk, meaning before division to final weights. Physics *Bulk density *Bulk modulus *In brane cosmology and M-theory (see also the AdS/CFT correspondence), the bulk is a hypothetical higher-dimensional space within which the eleven dimensions of our universe (the three dimensions we can see, plus time, plus the seven extra dimensions that we can't see but M-theory theorizes are all around us) may exist. People *Mike Waters, known as Bulk, British professional wrestler with the UK Pitbulls Fiction *Bulk and Skull, a pair of characters in the ''Power Rangers'' universe Places *Bulk, Lancashire, area of Lancaster, England *Bülk Lighthouse Bülk Lighthouse (german: Leuchtturm Bülk) is on the westernmost headland of the Kiel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auditing
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, and evaluate the propositions in their auditing report. Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other commonly audited areas include: secretarial and compliance, internal controls, quality management, project management, water management, and energy conservation. As a result of an audit, stakeholders may evaluate and improve the effectiveness of risk management, control, and governanc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sourcing Agent
Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity which otherwise is or could be carried out internally, i.e. in-house, and sometimes involves transferring employees and assets from one firm to another. The term ''outsourcing'', which came from the phrase ''outside resourcing'', originated no later than 1981. The concept, which ''The Economist'' says has "made its presence felt since the time of the Second World War", often involves the contracting of a business process (e.g., payroll processing, claims processing), operational, and/or non-core functions, such as manufacturing, facility management, call center/call center support. The practice of handing over control of public services to private enterprises (privatization), even if conducted on a limited, short-term basis, may also be described as outsourcing. Outsourcing includes both foreign and domestic contracting, and sometimes includes offshoring ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemical substance, chemicals and computer memory. Popular commodities include Petroleum, crude oil, Maize, corn, and gold. Other definitions of commodity include something useful or valued and an alternative ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richman Chemical
Richman Chemical Inc. (RCI) is a chemical sourcing company founded in 1988 by Ed Richman Ph.D., located in Lower Gwynedd, Pennsylvania. Richman Chemical Inc. provides project management, custom/contract manufacturing and sourcing services to life science and chemical industry clients. Richman Chemical Inc. represents a wide range network of manufacturers on a project-by-project or client-by-client basis. The origin of the business model dates back to Dr. Richman’s tenure as a director of non-core business units for several Fortune 100 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along w ... chemical companies. He observed first-hand the intricacies of outsourcing within the chemical industry and parlayed that experience into the establishment of Richman Chemical, helping clients use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Worldwide Brands
Worldwide may refer to: * Pertaining to the entire world * Worldwide (rapper) (born 1986), American rapper * Pitbull (rapper) (born 1981), also known as Mr. Worldwide, American rapper * ''Worldwide'' (Audio Adrenaline album), 2003 * ''Worldwide'' (The Death Set album), 2016 * ''Worldwide'' (Everything but the Girl album), 1991 * "Worldwide", a song by Big Time Rush from ''BTR'', 2010 * "World Wide (Remix)", a song by Outlawz from ''Novakane'', 2001 * World-Wide Shipping, a Hong Kong-based shipping company that merged with Norwegian company Bergesen to form BW Group * Worldwide magazine, a magazine for the Austin Motor Company by the in-house Nuffield Press See also * Cosmopolitanism * International (other) * Global (other) * World (other) The world is a common name for the whole of human civilization, specifically human experience, history, or the human condition in general, worldwide, i.e. anywhere on Earth. World, worlds or the world may also refe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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