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The Institute for Supply Management (ISM) defines procurement as an organizational function that includes specification development, value analysis, supplier market research, negotiation, buying activities, contract administration, inventory control, traffic, receiving and stores. Federal US legislation defines procurement as including
Over the past 15 years, GFOA's technology consulting practice has become the market leader in assisting local governments through the process of assessing current systems, understanding the vendor marketplace, facilitating procurement of new systems, and providing detailed analysis and contract negotiation assistance to protect the best ...
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.
Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
The Program on Negotiation publishes the quarterly Negotiation Journal and the monthly Negotiation Briefings newsletter, and distributes the annual Harvard Negotiation Law Review. Throughout the year PON offers a number of courses and training opportunities ranging in length from one day to an entire semester.
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 ...
Indirect procurement is the sourcing of goods and services not related to manufacturing for a business to enable it to maintain and develop its operations. The goods and services classified under the umbrella of indirect procurement are commonly bought for consumption by internal stakeholders (business units or functions) rather than the external customer or client.
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