Terms in this set (17)
Supply management requires pursuing strategic responsibilities that have a major impact on the long-term performance of the organization. These strategic responsibilities are not pursued in isolation but are aligned with the overall mission and strategies of the organization. Strategies are different from tactical, routine, or day-to-day activities. To function effectively, an organization must perform both strategic and traditional (tactical). Without routine ordering and follow-up, an organization will not receive product in a timely fash-ion. A strategic activity is the development of a system empowering internal users to order routine supplies.
One of the most closely followed indicators of economic activity. This monthly survey of purchasing managers in both the manufacturing and non-manufacturing sectors is closely monitored by the financial sector, and the results of both reports have the power to move financial markets. The ISM Report on Business is a change index, and generally a rating over 50 indicates the economy is expanding.
Students also viewed
Other sets by this creator