purchasing and supply management

Purchasing and supply management involves coordinating the process of sourcing, acquiring, and handling the goods and services a company needs to operate efficiently. It includes selecting suppliers, negotiating prices, ensuring quality, and timely delivery. The goal is to obtain the right products at the right cost, quality, and time, while maintaining good relationships with suppliers. Effective supply management helps a business reduce costs, improve quality, prevent shortages, and stay competitive in the marketplace. It's a strategic approach to managing the flow of materials from suppliers to the company and eventually to customers.