What is purchasing and supply chain management ?

Definition

Purchasing and supply chain management is a complex process that involves the coordination of purchasing, procurement, production, and logistics. In order to maximize the efficiency of these processes, it is crucial that all parties involved have access to accurate information on the status of their activities. This in turn allows for proactive actions to be taken before any delays or issues arise. Purchasing and supply chain management involves an exchange of information between the various participants in a supply chain.