Summary mnp2601-condensed-notes.

Unit 1 – Purchasing Function in perspective Distinguish between purchasing and supply management concepts Purchasing Management (P,N,E,F)  Process of buying, locating & selecting a supplier  Negotiating price, quality, quantity  Ensuring delivery  Functional approach Supply Management (M,S,R)  Management of resources the organisation needs to attain objectives  Strategic focus and systems approach  Regards suppliers as extensions of the firm Discuss objectives of purchasing management (S,M,M,M,D)  Supply organisations with a flow of materials to meet needs  Maintain effective supplier relationships  Maintain and develop quality  Maintain internal relationships  Develop staff, policies and procedures Discuss objectives of supply management (C,I,M,E,C)  Contribute to overall business strategies  Integrate supply objectives with corporate objectives  Manage supply base  Ensure timely, cost effective information system in place  Contribute to multi functional teams and provide outstanding customer service Discuss importance of P & S function (G,I,I,S,I,F,I)  Globalisation  International orientation  Information technology development  Short product life span  Increased supply risks  Focus on quality and environment  Increased costs