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Similarities between procurement and supply chain management

A business team planning marketing strategy

Similarities between procurement and supply chain management

 In our previous discussion, we looked at the differences between Procurement and Supply Chain Management. Judging by the insights we discussed already, we can comprehend three key factors:

  • Procurement supports the functions of your business by offering the inputs needed to run day-to-day operations.
  • Supply chain management addresses how those inputs are transformed into end products and delivered to consumers.
  • Procurement exists as a branch of supply chain management, and it narrows down to getting goods to buyers.

Despite their differences, procurement and supply chain management are similar in various ways. Here’s an overview of the similarities between procurement and supply chain management;

  1. Both procurement and supply chain management help in delivering the goals and targets of your business.
  2. Procurement and supply chain management are both internal operations and may hence require external stakeholder inputs, but their core still remains within your organization.
  3. Procurement and supply chain management should be managed proactively so as to support the operations of your business.

In conclusion, if you’re ever going to make sense of your procurement and supply chain management, it is best to use a tool designed for just that. More specifically, you need a tool that is developed with an understanding of the differences between procurement and supply chain management. That is the only way you’ll be able to manage both optimally without lapses. Check out our course in Procurement & Supply Chain Management for more knowledge on this and more. Enroll today for a 10% discount!

 

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