BuyFind

Purchasing and Supply Chain Manage...

6th Edition
Robert M. Monczka + 3 others
Publisher: Cengage Learning
ISBN: 9781285869681
BuyFind

Purchasing and Supply Chain Manage...

6th Edition
Robert M. Monczka + 3 others
Publisher: Cengage Learning
ISBN: 9781285869681

Solutions

Chapter 1, Problem 1DQ
Summary Introduction

To determine: Why top managers are recognizing the importance of purchasing and supply management.

Introduction: Supply management is the process of managing the suppliers and raw materials or resources that are essential for the organization’s operations.

Expert Solution

Explanation of Solution

Top managers are recognizing the importance of purchasing and supply management due to the following reasons:

  • Purchasing and supply management would increase the value and savings.
  • It reduces the time incurred to reach the market.
  • It would improve the reputation of the firm and the quality of the product.
  • Purchasing and supply management helps to build relationships outside the firm.
  • It helps to improve its competitive advantage.
  • Purchasing and supply management would generate an impact on the economic status of the firm.
  • It drives innovation.

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