Companies depend on sourcing, purchasing, or procurement. First, you have to find suppliers for the things you need. Then, you need to negotiate the best terms to buy them on, how much you'll pay, how much you need to buy, and how long you have to pay your bill. Once you find a supplier, you need to manage the relationship, making sure they are giving you what you need and maintaining the right levels of quality. You also need to make sure that their bills are getting paid. You also need to make sure that your suppliers are protecting themselves by staying financially sound, adopting good security and risk management practices, and more. This is because, if one of your suppliers has a problem, it can affect you and your business too. Companies can have a big social impact through their sourcing policies. So it is common for companies to set targets for a certain amount of the money they spend to be targeted at small businesses or a business from under-represented regions or communities.
- Do you like shopping, well buying products … and services is an important part of running a supply chain. … And the folks who do the procurement for a company … play a critical part in supporting the whole business. … The general term for buying stuff is supply management. … But you'll also find companies that call it … purchasing, procurement, sourcing, or acquisition. … They all mean pretty much the same thing. … So what's involved, well we have to start … by figuring out what we need to buy … and who will sell it to us. … Then we need to negotiate terms … and put contracts in place with those suppliers. … And then we'll start ordering things, … making sure our suppliers are getting paid, … and managing the quality of the products … and services that are delivered. … We also need to manage our supplier relationships. … I know a lot of folks who started their … supply chain careers as buyers or as purchasing analysts. … They might have responsibility to buy only certain products … or communicate with a couple of suppliers. …
- Explain the best approach for transitioning into a supply chain position.
- Determine the types of supply chain jobs that are the best fit for a given set of skills.
- Interpret the knowledge and skills needed for a supply chain job.
- Describe how to use resources for building a career roadmap in supply chain management.
- Identify concepts in building a professional development dashboard.