| Supply Management, which is a sub-function of supply chain management, refers to the methods and processes used by institutional buyers to purchase, and insure the availability of, raw materials, parts, and supplies for production, operations, and sales (to distributors, retailers, or end consumers). Supply Management usually encompasses the strategic sourcing and procurement, inventory management, logistics, risk management, and supplier management functions, as well as all of their component sub-functions, in most organizations.
For more information on supply management, please refer to the referenced glossary entries and numerous Sourcing Innovation blog entries. |
Sourcing Innovation
Next Generation Supply Management Defined
