Question: Question 1 Discuss the difference between the following terms Procurement and purchasing Supply chain and value chain Sourcing and buying Ordering and ordering function Question

Question 1

Discuss the difference between the following terms

Procurement and purchasing
Supply chain and value chain
Sourcing and buying
Ordering and ordering function

Question 2

Would you consider the procurement function to be part of supply chain management? Or would you favour the reverse?

Question 3

What is the major difference between activities of the procurement function and activities conducted by the procurement department? Is it important to differentiate these two concepts?

Question 4

Total quality is considered to be one of the new developments in procurement; describe the consequences of total quality control on the procurement function in general and on the relationships with suppliers in particular.

Question 5

Discuss how a purchasing professional can contribute to corporate performance by negotiating long payment terms.

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