importance of purchasing and supply management

Use at least one project you have been a team member of, or a project manager for, as an example to contextualize the research topics below:

Define the importance of purchasing and supply management and how this relates to selecting a qualified supplier.

Discuss how to select strategies for negotiating prices.

Assemble the steps of the creation of a project supply, service, and material budget from detailed requirements.

Illustrate the benefits and costs of outsourcing, and the growth pattern of outsourcing.

Evaluation of the various organizations that are benchmarks in purchasing and supply management, and their best practices. Provide specific examples of companies who show market leadership in purchasing and supply management.

This is an assignment with a length of eight to ten pages that should integrate the reading, multi-media and class discussions. It is mandatory to have research from the classroom text, as well as three sources from scholarly sources to support your views.

Consider the validity of your resources carefully before using them in academic papers. It is recommended to use examples from your professional experience where possible, or build from your learning in the discussion boards.