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Procurement is the act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process. The process is used to ensure the buyer receives goods, services or works at the best possible price, when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion.
Procurement - Wikipedia
Strategic sourcing is an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company. In the services industry, strategic sourcing refers to a service solution, sometimes called a Strategic Partnership, that is specifically customized to meet the client's individual needs.
The Internet of Things and the Digital Supply Chain – We are moving from the buzzword “Internet of Things” (IoT) to the “Digital Economy.” The concept of the Digital Economy encompasses IoT, but also includes the idea that IoT sensor data needs to be leveraged in applications that take that sensor data, turn it into actionable tasks that are embedded in the right process step that can be executed by the right person.
Supply Chain Digest
March 17, 2017
Supply Chain News: Walmart and Amazon by the Numbers 2017
Our Annual Review of the World's Two Most Important Retailers
I think it is rather safe to say that the two most important retailers in the world today are Walmart and Amazon.com.
Walmart’s traditional obsession with efficiency is no longer just a matter of saving money. Greening retail has become a true double entendre, with carbon and cash both essential to figuring out how to remove 1 billion tons of greenhouse gas emissions from its extended supply chain by the end of the next decade.