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Supply Chain: Purchasing & Procurement

Focus on purchasing, materials management and logistics

About Procurement and Purchasing

Institute of Supply Management (ISM) explains the difference between procurement and purchasing: 

Procurement is an organizational function that includes specifications development, value analysis, supplier market research, negotiation, buying activities, contract administration, inventory control, traffic, receiving and stores.  Purchasing refers to the major function of an organization that is responsible for acquisition of required materials, services and equipment.

Source: Institute of Supply Management. Supply Management Defined. 2010

Managing Procurement and Purchasing

Benchmarks & Indicators

e-Auctions for Procurement

Bids & Contracts

Examples of RFPs, RFQs, ITB or contracts for various products and services are frequently posted on local government websites. Use Google to search for document samples:

  • Oracle ERP RFP

  • HVAC  "statement of work"

ProcurementIQ - How to purchase....

Product Cost & Price Driver Identification

In order to understand how  the price of a good or service is determined, need to understand the composition of a good or service.  In contract negotiations, this knowledge helps deliver a fairer price.