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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 ...
Procurement is one component of the broader concept of sourcing and acquisition. Typically procurement is viewed as more tactical in nature (the process of physically buying a product or service) and sourcing and acquisition are viewed as more strategic and encompassing. [citation needed] Multiple sourcing business models and acquisition models ...
Purchasing managers were not the only ones to become Supply Chain Managers. Logistic managers, material managers, distribution managers, etc. all rose to the broader function and some had responsibility for the purchasing functions now. In accounting, purchases is the amount of goods a company bought throughout this year. It also refers to ...
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.
[2] [3] A more narrow definition of supply chain management is the "design, planning, execution, control, and monitoring of supply chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronising supply with demand and measuring performance globally".
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 ...
In general, these skills are specific to the supply chain, where some can be found as applicable outside the supply chain field as well. Skills are defined by Trainings, Experiences, Aptitudes, and Competency level. The latter is further divided into five widely accepted competency levels: Novice, beginner, competent, proficient, and expert.
Each category is run as a "mini business" (business unit) in its own right, with its own set of turnover and/or profitability targets and strategies.Introduction of Category Management in a business tends to alter the relationship between retailer and supplier: instead of the traditional adversarial relationship, the relationship moves to one of collaboration, with exchange of information ...