Define the importance of purchasing and supply management and how this relates to selecting a qualified supplier.

Use at least one project you have been a team member of, or a project manager for, as an example to contextualize the research topics below.

  •     Define the importance of purchasing and supply management and how this relates to selecting a qualified supplier.
  •     Discuss how to choose strategies for negotiating prices.
  •     Assemble the steps of the creation of project supply, service, and materials budget from detailed requirements. Illustrate the benefits and costs of outsourcing and the gr0\’11h pattern of outsourcing.

Evaluation of the various organizations that are bencnmarl<s in purchasing and supply management, and their best practices. Provide specific examples of companies who show marl<et leadership in purchasing and supply management.

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