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Mentzer et al. make a further distinction between "supply chain management" and a "supply chain orientation". The latter term involves a recognition that a business strategy cannot be fulfilled without managing the activities of suppliers and customers upstream and downstream, whereas the former term is used for "the actual implementation of ...
Procurement is the process of locating ... which is the focus in supply chain management, ... but a key difference between the preferred provider and the other ...
It is a process reference model for supply-chain management, extending "from the supplier's supplier to the customer's customer". [21] It includes delivery and order fulfillment performance, production flexibility, warranty and returns processing costs, inventory and asset turns, and other factors in evaluating the overall effective performance ...
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 [1] to sourcing production lines where the labor market would increase firms' ROI. [2]
The main difference between the concept of logistic management and supply-chain management is the level of information gathered, processes, analysed and used for decision making. An SCM-based organization not only having concerns with its immediate clients but also handles and forecasts the factors affecting directly or indirectly their ...
Supplier relationship management (SRM) is the systematic, enterprise-wide assessment of suppliers' strengths, performance and capabilities with respect to overall business strategy, determination of what activities to engage in with different suppliers, and planning and execution of all interactions with suppliers, in a coordinated fashion across the relationship life cycle, to maximize the ...
Although supply chain engineering and supply chain management have the same goals, the former is focused on a mathematical model-based approach, whereas the latter is focused on a more traditional management and business-based one. [1]
It is generally considered as one aspect of the procurement management toolkit, and frequently used in combination with other tools – such as 'two-by-four-box' analysis, looking at the strategic positioning of that commodity with respect to an organisation and its supplier.