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Supply Management (procurement)
The term supply management, also called Procurement, describes the methods and processes of modern corporate or institutional buying. This may be for the purchasing of supplies for internal use referred to as indirect goods and services, purchasing raw materials for the consumption during the manufacturing process, or for the purchasing of goods for inventory to be resold as products in the distribution and retail process. In many organizations, acquisition or buying of services is called contracting, while that of goods is called purchasing or procurement. The supply management function of an organization is responsible for various aspects of these acquisitions: * Working with business leaders who have identified a business need or requirement to identify, source, contract, and procure the needed good or service from qualified suppliers * Managing supplier performance * Implementing technologies, processes, policies, and procedures to support the purchasing process (Supplier Re ... [...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 Management
In commerce, supply chain management (SCM) is the management of the flow of goods and services including all processes that transform raw materials into final products between businesses and locations. This can include the movement and storage of raw materials, work-in-process inventory, finished goods, and end to end order fulfilment from the point of origin to the point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. Supply-chain management has been defined as the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally". SCM practice draws heavily on industrial engineering, systems engineering, operations management, logis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Procure-to-pay
Procure-to-pay (also known as Purchase to Pay (P2P)) is a term used in the software industry to designate a specific subdivision of the procurement process. The P2P systems enable the integration of the purchasing department with the accounts payable (AP) department. Some of the largest players of the software industry agree on a common definition of procure-to-pay, linking the procurement process and financial department. The steps usually included are: *Supply management *Cart or requisition *Purchase order *Receiving *Invoice reconciliation *Accounts payable Unlike source-to-pay systems, procure-to-pay systems do not include the function of sourcing. Also, notions of production planning and forecasting are excluded from this definition since it relates to the supply chain management. Benefits Procure-to-pay systems are designed to provide organizations with control and visibility over the entire life-cycle of a transaction, providing full insight into cash-flow and finan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emptoris
Emptoris is a brand within IBM's Commerce Portfolio. History Late 1999 Avner Schneur founded Emptoris with a goal to transform the strategic sourcing. When acquired by IBM, Emptoris was a developer and provider of strategic supply and contract management software including applications for spend analysis, sourcing, contract management, supplier lifecycle management, services procurement, compliance management and telecom expense management. In January 2011, the company announced the acquisition of Rivermine, Inc., a provider of telecom expense management (TEM) solutions. In May 2011, Emptoris acquired Xcitec, a provider of supplier management software headquartered in Munich, Germany. With these two acquisitions, the company had six applications, more than 350 Global 1000 customers, over 725 employees globally, and combined projected annual growth in excess of 20%. In August 2011, Emptoris was included on the 2011 Inc. 5000 list of the fastest-growing private companies. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rosslyn Analytics
Rosslyn Data Technologies (aka Rosslyn Analytics) is a software company providing procurement and master data management solutions. Its procurement portfolio includes software solutions for Spend Analytics, Supplier Information Management, Supplier Performance Management and Supplier Contract Management. Master Data Management solutions include Data Extraction, Data Cleansing and Data Enrichment; available via a cloud-based data platform. The company is listed on AIM, a sub-market of the London Stock Exchange, and is headquartered in London with offices in New York City and Chicago, Illinois. History Rosslyn Analytics was founded in 2007 by Charles Clark and Hugh Cox. The company was named after Rosslyn Chapel in Midlothian, Scotland, which is famous for its mysterious carvings, believed to contain a message or even music that has never been verifiably decoded. In 2009, the company launched its first cloud-based business intelligence product - a self-service spend analytics app ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ariba
SAP Ariba is an American software and information technology services company located in Palo Alto, California. It was acquired by German software maker SAP SE for $4.3 billion in 2012. Company beginnings Ariba (now SAP Ariba) was founded in 1996 by Bobby Lent, Boris Putanec, Paul Touw, Rob Desantis, Ed Kinsey, Paul Hegarty, and Keith Krach on the idea of using the Internet to enable companies to facilitate and improve the procurement process, which was paper-based, labor-intensive, and inefficient for large corporations. The name Ariba is a neologism, chosen by a branding company since it was easy to pronounce and spell. The pre-launch name was Procuresoft. Ariba went public in 1999 under Krach's leadership as CEO, and was one of the first business-to-business Internet companies to do an IPO. The company's stock more than tripled from the offering price on opening day, making the three-year-old company worth $4 billion. In 2000, the stock value continued to climb, and Arib ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SAP AG
Sap is a fluid transported in xylem cells (vessel elements or tracheids) or phloem sieve tube elements of a plant. These cells transport water and nutrients throughout the plant. Sap is distinct from latex, resin, or cell sap; it is a separate substance, separately produced, and with different components and functions. Insect honeydew is called sap, particularly when it falls from trees, but is only the remains of eaten sap and other plant parts. Types of sap Saps may be broadly divided into two types: xylem sap and phloem sap. Xylem sap Xylem sap (pronounced ) consists primarily of a watery solution of hormones, mineral elements and other nutrients. Transport of sap in xylem is characterized by movement from the roots toward the leaves. Over the past century, there has been some controversy regarding the mechanism of xylem sap transport; today, most plant scientists agree that the cohesion-tension theory best explains this process, but multiforce theories that hy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gartner
Gartner, Inc is a technological research and consulting firm based in Stamford, Connecticut that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its clients include large corporations, government agencies, technology companies, and investment firms. In 2018, the company reported that its client base consisted of over 12,000 organizations in over 100 countries. As of 2022, Gartner has over 15,000 employees located in over 100 offices worldwide. It is a member of the S&P 500. History Gideon Gartner founded Gartner, Inc in 1979. Originally private, the company launched publicly as Gartner Group in 1986 before Saatchi & Saatchi acquired it in 1988. In 1990, Gartner Group was acquired by some of its executives, including Gartner himself, with funding from Bain Capital and Dun & Bradstreet. The company went public again in 1993. In 2000, the name was simplified from ''Gartner Group'' to Gartn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spend Analysis
Spend analysis or spend analytics is the process of collecting, cleansing, classifying and analyzing expenditure data with the purpose of decreasing procurement costs, improving efficiency, and monitoring controls and compliance. It can also be leveraged in other areas of business such as inventory management, contract management, complex sourcing, supplier management, budgeting, planning, and product development. Overview Spend analysis is often viewed as part of a larger domain known as spend management which incorporates spend analysis, commodity management, industry spend benchmarking, and strategic sourcing. Companies perform a spend analysis for several reasons. The core business driver for most organizations is profitability. In addition to improving compliance and reducing cycle times, performing detailed spend analysis helps companies find new areas of savings that previously went untapped, and hold on to past areas of savings that they have already negotiated. There ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Management
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees. Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution. It can be summarized as the process of systematically and efficiently managing contract creation, execution, and analysis for the purpose of maximizing financial and operational performance and minimizing risk. Common commercial contracts include purchase orders, sales invoices, utility contracts, letters of engagement for the appointment of consultants and professionals, and construction contracts. Complex contracts are often necessary for construction projects, goods or services that are highly regulated, goods or services with detailed technical specifications, intellectual property (IP) agreements, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Sourcing
Strategic sourcing is the process of developing channels of supply at the lowest total cost, not just the lowest purchase price. It expands upon traditional organisational purchasing activities to embrace all activities within the procurement cycle, from specification to receipt, payment for goods and services to sourcing production lines where the labor market would increase firms' ROI. Strategic sourcing processes aim for continuous improvement and re-evaluation of the purchasing activities of an organisation. In the services industry, strategic sourcing refers to a service solution, sometimes called a strategic partnership, which is specifically customized to meet the client's individual needs. In a production environment, it is often considered one component of supply chain management. Modern supply chain management professionals have placed emphasis on defining the distinct differences between strategic sourcing and procurement. Procurement operations support tactical day-to- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute For Supply Management
Institute for Supply Management (ISM) is the oldest, and the largest, supply management association in the world. Founded in 1915, the U.S.-based not-for-profit educational association serves professionals and organizations with a keen interest in supply management, providing them education, training, qualifications, publications, information, and research. ISM currently has 50,000 members in more than 90 countries. It offers two qualifications, the Certified Professional in Supply Management (CPSM) and the Certified Professional in Supplier Diversity (CPSD), and, in partnership with the W.P. Carey School of Business at Arizona State University, sponsors CAPS Research. ISM competes against several educational, certification, and membership organizations serving the supply chain profession, including APICS, the Next Level Purchasing Association, the National Contract Management Association, the American Purchasing Society, The Center for Purchasing and Supply Chain Management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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