Procurement and Supply Chain Management

The method of finding and acquiring goods or services usually through a bidding process is known as procurement. It is useful for ensuring that the buyer receives these goods or services at the best price possible. Procurement can be divided into two categories, namely direct spend or indirect spend. Supply chain management is a crucial area of commerce concerned with the management of the movement of goods and services. It involves raw material storage, their inventory of work-in-process and flow of goods from origin to consumption. These are essential for the success of organizations in the global market. Due to globalization and due to the proliferation of huge multinational companies, supply chain networks have become significant. Procurement and supply chain management are closely associated with each other. This book unfolds the innovative aspects of procurement management, which will be crucial for the holistic understanding of the subject matter. Different approaches, evaluations, methodologies and advanced studies in supply chain management have also been included herein. The book is appropriate for those seeking detailed information in these areas.