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  2. Procurement outsourcing - Wikipedia

    en.wikipedia.org/wiki/Procurement_outsourcing

    Procurement outsourcing is the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Procurement categorisation and vendor management of indirect materials and services (commonly referred ...

  3. Institute for Supply Management - Wikipedia

    en.wikipedia.org/wiki/Institute_for_Supply...

    ISM introduced the ISM Mastery Model in 2015. Later renamed to ISM Capability Model, it covers 16 core competencies and 73 sub-competencies. The model and its assessment tool identify employee skills gaps and solutions to close them. It allows companies to benchmark team member skills and create a development roadmap and set job expectations.

  4. Certified Professional in Supply Management - Wikipedia

    en.wikipedia.org/wiki/Certified_Professional_in...

    Up until 2008, the highest credential that ISM offered was the Certified Purchasing Manager (C.P.M.) designation, which the organization first offered in 1974. [4] The C.P.M. required qualified applicants to pass four exam modules that measured their aptitude in areas such as purchasing, supplier relations, quality issues, business law, personnel challenges, diversity and more.

  5. Supply chain management - Wikipedia

    en.wikipedia.org/wiki/Supply_chain_management

    In the 1990s, companies began to focus on "core competencies" and specialization. They abandoned vertical integration, sold off non-core operations, and outsourced those functions to other companies. This changed management requirements, as the supply chain extended beyond the company walls and management was distributed across specialized ...

  6. Purchasing cooperative - Wikipedia

    en.wikipedia.org/wiki/Purchasing_cooperative

    Increased Efficiency: Purchasing cooperatives streamline the procurement process by centralizing purchasing activities. This centralized approach eliminates redundancy and administrative burdens for individual members, allowing them to focus on their core competencies and strategic objectives.

  7. Strategic sourcing - Wikipedia

    en.wikipedia.org/wiki/Strategic_sourcing

    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]

  8. Category management (purchasing) - Wikipedia

    en.wikipedia.org/wiki/Category_management...

    Category management is an approach to the organisation of purchasing within a business organisation, also often referred to as procurement.Applying category management to purchasing activity benefits organisations by providing an approach to reduce the cost of buying goods and services, reduce risk in the supply chain, increase overall value from the supply base and gain access to more ...

  9. Chief procurement officer - Wikipedia

    en.wikipedia.org/wiki/Chief_procurement_officer

    Many industries employ procurement officers, from small companies to global organizations. In a small company, the procurement officer may work singly, but often there is a team that executes the purchasing for an organization. A chief procurement officer working for a multinational corporation might manage a globally-dispersed team.