For the Students of B.E./B.Tech. and M.Tech. (Production and Industrial Management) also useful for BBA and MBA Courses. The book begins with the concept and objectives of purchasing and moves on to discuss such topics as classification, codification, specifications and standardization of materials, which aid in effective purchasing, in view of their economic importance

For students and practitioners. Emphasizes supply function in a strategic sense. Some topics covered include: vendor rationalization, electronic data interchange, international procurement, reverse marketing. Annotation copyrighted by Book News, Inc., Portland, OR

Resource added for the Supply Chain Management program 101821.

The Fourteenth Edition of Purchasing and Supply Management provides a comprehensive introduction to the purchasing and supply chain management field, supported by over 40 case studies. Cases cover purchasing and supply chain issues in a variety of settings, from process industries to high tech manufacturing and services as well as public institutions. The text focuses on decision making throughout the supply chain. Based on the conviction that supply managers, in concert with suppliers and distributors, have to contribute to organizational goals and strategies, this edition continues to focus on how to make that mission a reality.

Materials management is an essential business function. It is concerned with managing materials, one of the four basic resources (labour, material, equipment, capital). Until recently, it was concerned with purchasing raw materials and very few parts from local markets. Raw materials were used to make most of the parts for making end products. Materials management was regarded as a routine function and was given less importance. But over the years, firms began to procure more and more parts and subassemblies from local as well as global markets. Today over 50% of the revenue of the firms goes for procuring materials, parts and subassemblies from outside. As a result, materials management function has evolved from a clerical buying function into a strategic business function that helps firms to survive and grow. It creates competitive edge by creating superior value by delivering quality product or service on time and offering lower cost by cutting its own cost as well as cutting purchased item cost.Very few of the available texts offer a comprehensive view of the subject & data and examples and cases in the context of Indian industries are limited.The contents of the subject are undergoing rapid changes. Earlier, purchasing was mostly confined to raw materials by manufacturing firms whereas now a large part of it consists of parts, subassemblies and assemblies, beside raw materials. A smaller number of suppliers are preferred now-a-days. Global sourcing is an accepted norm. A change in supplier relations from adversarial to partnership is evident. Lot sizes and lead-times are smaller and there is greater use of information technology.The book is designed to provide comprehensive coverage of the field of materials management by including emerging concepts, practices, tools, techniques, heuristics and quantitative models. Other features of the book include:v Important topics like outsourcing, purchase strategies and enterprise resource planning.v Cases from Indian industries on vendor managed inventory, outsourcing, and spare parts inventory.v Definition of key terms.v Questions at the end of each chapter and answers of selected questions.The book can serve as a text for undergraduate and postgraduate level courses on materials management in the institutes of management, engineering and technology, materials, industrial engineering, operations research and others. It can also serve as a reference for managers, engineers, consultants, and others interested in the field.