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A primary task of management accounting in supply chains is performance measurement. The key elements of strategic goals include the measurement of resources, output and flexibility. [9] Efficient resource management is critical to profitability; without an acceptable output, customers will turn to other supply chains.
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 ...
Outsourcing accounting is also used by businesses that experience variable accounting needs. By outsourcing accounting functions, companies are able to scale up and down according to fluctuations in their need for accounting services. [14] Small and medium enterprises in particular outsource accounting functions as the size of their business ...
Outsourcing is a business practice in which companies use external providers to carry out business processes, that would otherwise be handled internally. [ 1 ] [ 2 ] [ 3 ] Outsourcing sometimes involves transferring employees and assets from one firm to another.
Another, the Institute for Supply Management, is developing one called the Certified Professional in Supply Management (CPSM) [159] focused on the procurement and sourcing areas of supply chain management. The Supply Chain Management Association (SCMA) is the main certifying body for Canada with the designations having global reciprocity.
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.
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]
Corporate sourcing refers to a system where divisions of companies coordinate the procurement and distribution of materials, parts, equipment, and supplies for the organization. This is a supply chain , purchasing / procurement , and inventory function.