Are the buying organization's Purchasing and Supply Management staff members the only ones involved in the...

Are the buying organization's Purchasing and Supply Management staff members the only ones involved in the utilization of cost management and contract management strategies?

Solutions

Expert Solution

Ans:-

• Contract management ways square measure utilised within the situations and processes wherever there exists a contract between 2 entities, it's simply not restricted to the getting and provide Management workers members tho' most contracts exist between purchaser and seller(supplier) wherever the getting team has to enter in contract with the provider and settle on the terms. Contract management also can be utilised between manufacturer and supplying partner wherever the sales team is concerned in agreements or contracts with the distributors or supplying corporations.

• Cost management involves capturing, managing and dominant all the prices concerned within the offer chain that isn't solely restricted to material costs viz. value of buying raw materials, packaging materials and different materials from suppliers however conjointly extended to supplying prices, value of production, body prices, promoting prices etc.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

if consumers were the only ones buying goods in the economy, would the economy be at...

if consumers were the only ones buying goods in the economy, would the economy be at equilibrium ? Why or why not ?

Business buying can be a very involved process. Many companies employ procurement or purchasing experts dedicated...

Business buying can be a very involved process. Many companies employ procurement or purchasing experts dedicated to managing the firm’s buying process. Visit www.glassdoor.com/salaries and www.indeed.com/salary to conduct a search of the salary ranges for “procurement specialists” and similar positions in purchasing. Present your findings. Can e-procurement help to streamline the buying process? Might it eventually replace employees in these careers? Discuss if it is possible for all buying functions to be performed through e-procurement.

Develop a Financial Risk Management plan for a Professional Consultancy firm in purchasing and supply....

Which purchasing and supply management practices and strategies did HEB implement to manage its operations for...

Which purchasing and supply management practices and strategies did HEB implement to manage its operations for the Pandemic?

Electronic Purchasing for Global Sourcing Supply chain management has become an increasingly popular and strategically important...

Electronic Purchasing for Global Sourcing Supply chain management has become an increasingly popular and strategically important topic in international business in recent years. An important recent development in supply chain management is the emergence of electronic purchasing for global sourcing. This exercise examines potential benefits and costs associated with electronic purchasing. Read the case below and answer the questions that follow. The solar energy industry generated worldwide revenues that were estimated at nearly $50 billion in 2011. These revenues have...

Which purchasing and supply management practices and strategies could HEB have implemented to manage its operations...

Which purchasing and supply management practices and strategies could HEB have implemented to manage its operations better for the Pandemic?

Subjects