Tuesday, January 9, 2007

Some relevant definitions:

SUPPLY CHAIN MANAGEMENT(SCM): Planning & controlling the operations of a supply chain of goods that move from points in the process of getting raw materials, constructing goods & transporting them to sales points.

LOGISTICS: The art of acquiring the right item, in the right quantity, at the right price & at the right place, at the right time.

SOURCING: Finding a supply of something

PROCUREMENT: Buying it!