Fundamental Issues of Procurement Management

Procurement respectively procurement management in companies has received a significant boost in importance in recent years. The increasing outsourcing of services to suppliers and the simultaneous commissioning of international suppliers have changed the tasks and professional profile of buyers in terms of their contribution to corporate value creation. Without procurement management (purchasing management), corporate strategies and the achievement of sustainable competitive advantages can no longer be achieved. Procurement has become a central success factor in the company.

Thus, the knowledge of procurement management and the skills of the buyers form an essential pillar for entrepreneurial decisions and strategies. Knowledge of the basic interrelationships of procurement management is and will be a natural part of any training and further education.

This book provides a fundamental contribution by showing and explaining the central elements and interrelationships. It is suitable for the introduction to procurement management and therefore a helpful reading for students and practitioners.