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What Is The Relationship Between Procurement Practices And Supply Chain Performance?

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Anonymous answered
Procurement Practices :Procurement is the sourcing and purchasing of goods and services for business use.Individual businesses set procurement policies that govern their choice of suppliers, products and the methods and procedures that are going to be used to communicate with their suppliers. For example, businesses often have set procedures for calling for and evaluating proposals. Supply Chain Performance :the network of manufacturers, wholesalers, distributors, and retailers, who turn raw materials into finished goods and services and deliver them to consumers. Supply chains are increasingly being seen as integrated entities, and closer relationships between the organizations throughout the chain can bring competitive advantage, reduce costs, and help to maintain a loyal customer base.
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Jordan Park answered

Procurement “is the process of getting the goods and/or services your company needs to fulfill its business model. Some of the tasks involved in procurement include developing standards of quality, financing purchases, negotiating price, buying goods, inventory control and disposal of waste products like packaging.

A supply chain “consists of everybody involved in getting your product in the hands of a customer. It includes raw material gatherers, manufacturers, transportation companies, wholesale warehouses, in-house staff, stock rooms and the teenager at the register.


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