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Strategic material is any sort of raw material that is important to an individual's or organization's strategic plan and supply chain management. Lack of supply of strategic materials may leave an organization or government vulnerable to disruption of the manufacturing of products which require those materials. [ 1 ]
Commodity management is the process of developing a systematic approach to the entire usage cycle for a group of items. The term is often used interchangeably with category management .
The Federal Surplus Commodities Corporation was one of the so-called alphabet agencies set up in the United States during the 1930s as part of President Franklin D. Roosevelt's New Deal. Created in 1933 as the Federal Surplus Relief Corporation , its name was changed by charter amendment on November 18, 1935.
A strategic reserve can be: Financial in nature such as ring-fenced funding or capital reserves of a large corporation. A commodity, such as intervention stocks of food or petrol (see security of supply and strategic petroleum reserves) Specific machinery, such as railroad cars or steam locomotives, to be used in an emergency situation.
A business plan is a formal written ... relate to the organization's strategic plan. ... as government agency business plans tend to focus on the "organizational ...
Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. Popular commodities include crude oil, corn, gold and Bitcoin. Other definitions of commodity include something useful or valued [4] and an alternative term for an economic good or service available for purchase in the market. [5]
The NIGP Commodity/Services Code is an acronym for the National Institute of Governmental Purchasings' Commodity/Services Code. The NIGP Code is a coding taxonomy used primarily to classify products and services procured by state and local governments in North America .
Global strategic petroleum reserves (GSPR) refer to crude oil inventories (or stockpiles) held by the government of a particular country, as well as private industry, to safeguard the economy and help maintain national security during an energy crisis. Strategic reserves are intended to be used to cover short-term supply disruptions.