
249
8
Procurement/Purchasing
Learning Outcomes
After reading this chapter, you should be able to
• Describe the role of procurement in the supply chain
• Identify the differences between traditional purchasing and contemporary
purchasing
• Identify and dene the four stages of purchasing sophistication
• Describe the critical success factors (CSFs) needed in the purchasing function
• Describe how purchasing is a key participant in integrating the members of a sup-
ply chain
• Identify the key functions of purchasing
• Construct a vendor rating system when making an important purchase
• Describe differences between the make-or-buy decision and the ...