Question: Specific Learning Outcomes: 1 . Explain the purchasing, procurement, and sourcing and the similarities and differences among them. 2 . Explain supply management and supply

Specific Learning Outcomes: 1. Explain the purchasing, procurement, and sourcing and the similarities and differences among them.
2. Explain supply management and supply chain management
3. Explain value chain
4. Differentiate between supply chain and value chain.
5. Discuss the objectives of purchasing and supply management
6. Discuss the importance of the purchasing and supply function for organisations.
7. Explain the role of purchasing in business management
8. Explain what planning, organising, co-ordinating and controlling in purchasing and supply management entail.
9. Discuss the objectives and basic principles of performance evaluation.
10. Discuss the difficulties relating to the performance and evaluation of the purchasing and supply function.
11. Identify the steps in the process of evaluating the purchasing and supply function
12. Explain how changes in the business affect business strategy and the supply strategies of organisations.
13. Explain the role and importance of the purchasing and supply function in business.
14. Explain the most important tasks and responsibilities related to the purchasing and supply function.
15. Explain what decision-making in purchasing entails.

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