Procurement & Supply Chain Management, 10th Edition
- Length: 746 pages
- Edition: 10
- Language: English
- Publisher: Pearson
- Publication Date: 2020
- ISBN-10: 1292317914
- ISBN-13: 9781292317915
- Sales Rank: #2115696 (See Top 100 Books)
Develop business understanding through real-life examples and latest developments in the field
Procurement and Supply Chain Management, 10th Edition, by Farrington is the most comprehensive and accessible textbook on procurement and supply chain management currently available. It is the ideal textbook for those aspiring to be leaders in the profession, and for those who are engaged in professional studies for the Chartered Institute of Procurement and Supply examinations (at both the foundation and professional stages). It is also of value to specialists in other fields who require understanding of the role and influence of this area of business performance. Using extensive real-life examples the subject matter has been brought to life throughout the book, and provides a truly international focus on procurement and supply chain.
This fully revised edition covers new developments in the procurement and supply chain field, and offers new chapters on public sector procurement and socially responsible procurement.
New to this edition:
- A new chapter on Public Sector Procurement, recognising the public sector’s impact on the global economy
- A new chapter on Sustainability and Socially Responsible Procurement, recognising that this is a highly challenging global issue wherein procurement has great influence and more initiatives are needed
- Extensively updated throughout to reflect material changes in the procurement professio
Front Cover Half Title Page Title Page Copyright Page Dedication Page Contents Preface Acknowledgements Publisher's acknowledgements Plan of the book Part 1 Introduction and strategy 1 The scope and influence of procurement Learning outcomes Key ideas Introduction 1.1 How to define procurement 1.2 How to define supply chain management (SCM) 1.3 Strategic roles of procurement 1.4 Procurement as organisational buying 1.5 The strategic scope of procurement 1.6 Integrated supply chain management 1.7 Procurement and change 1.8 World-class procurement 1.9 The status of procurement and supply management (PSM) 1.10 Reflections on procurement positioning in business 1.11 The scope of procurement in the public sector Discussion questions References 2 Strategic procurement Learning outcomes Key ideas Introduction 2.1 Strategic fit between the supply chain and competitive strategies 2.2 What is strategy? 2.3 Strategy development 2.4 Levels of organisational strategy 2.5 Corporate strategy 2.6 Growth strategies 2.7 Business-level strategy 2.8 Strategic management 2.9 Strategic analysis 2.10 Important environmental factors 2.11 Internal scrutiny 2.12 Strategy formulation 2.13 The evaluation of alternative strategies 2.14 Strategy implementation 2.15 Post-implementation evaluation, control and review 2.16 Strategic procurement and supply chain process models Discussion questions References 3 Logistics and supply chains Learning outcomes Key ideas Introduction 3.1 What is logistics? 3.2 Materials, logistics and distribution management 3.3 Reverse logistics 3.4 Supply chains 3.5 Supply chain management (SCM) 3.6 Supply chain vulnerability 3.7 Value chains 3.8 Value chain analysis 3.9 Supply chain optimisation 3.10 Procurement positioning within supply chain management Discussion questions References 4 Organisational and supply chain structures Learning outcomes Key ideas Introduction 4.1 Organisational structures 4.2 New type organisations 4.3 The organisation of the future 4.4 Factors in configurations 4.5 Lean organisations 4.6 Agile organisations and production 4.7 Supply and value chain mapping 4.8 Types of change 4.9 Centralised procurement 4.10 Decentralised procurement 4.11 Cross-functional procurement Discussion questions References 5 Procurement policies, procedures and support tools Learning outcomes Key ideas Introduction 5.1 Exemplar Procurement Policy – The Crossrail Project 5.2 Procurement procedures 5.3 Procurement process failures 5.4 E-commerce, e-business, e-SCM and e-procurement 5.5 The evolution of e-procurement models 5.6 Electronic data interchange (EDI) 5.7 E-hubs, exchanges, portals and marketplaces 5.8 E-catalogues 5.9 E-auctions 5.10 Reverse auctions 5.11 E-payment 5.12 Low-value purchases 5.13 Procurement manuals 5.14 Procurement playbook Discussion questions References Part 2 Strategy, tactics and operations 1: Procurement factors 6 Supplier relationships and partnering Learning outcomes Key ideas Introduction 6.1 Relationship procurement and procurement relationships 6.2 The application of power in relationship management 6.3 Supplier relationship management - strategic focus 6.4 The contrast between transactional and relationship procurement, taking account of contractual requirements 6.5 Collaborative business relationships 6.6 SRM model 6.7 Models of supplier relationships 6.8 Supplier relationship management - a critique 6.9 The termination of relationships 6.10 Relationship breakdown on an IT project 6.11 Further aspects of relationships Discussion questions References 7 Legal and contractual management Learning outcomes Key ideas 7.1 The procurement specialist and Contract Law 7.2 Formation of a contract 7.3 Acceptance 7.4 Contracts for the Sale of Goods 7.5 Contract for the Supply of Services 7.6 Consideration 7.7 Capacity to Contract 7.8 Drafting the detail of contract clauses 7.9 Misrepresentation 7.10 The right to terminate a contract 7.11 HOT TOPICS 7.12 Standard Forms of Contract Discussion questions References 8 Quality management, service and product innovation Learning outcomes Key ideas 8.1 What is quality? 8.2 Quality systems 8.3 Total quality management 8.4 Specifications 8.5 Alternatives to individual specifications 8.6 Standardisation 8.7 Variety reduction 8.8 Quality assurance and quality control 8.9 Tests for quality control and reliability 8.10 The cost of quality 8.11 Value management, engineering and analysis Discussion questions References 9 Matching supply with demand Learning outcomes Key ideas 9.1 Inventory, logistics and supply chain management 9.2 Reasons for keeping inventory 9.3 Inventory classifications 9.4 Scope and aims of inventory management 9.5 Some tools of inventory management 9.6 The economics of inventory 9.7 Inventory performance measures 9.8 Safety stocks and service levels 9.9 The right quantity 9.10 The nature of demand 9.11 Forecasting demand 9.12 'Push' and 'pull' inventories 9.13 Independent demand 9.14 Dependent demand 9.15 Just-in-time (JIT) 9.16 Materials and requirements planning (MRP) 9.17 Manufacturing resource planning (MRP II) 9.18 Enterprise resource planning (ERP) 9.19 Supply chain management systems 9.20 Distribution requirements planning (DRP) 9.21 Vendor-managed inventory (VMI) 9.22 Procurement and inventory Discussion questions References 10 Sourcing and the management of suppliers Learning outcomes Key ideas 10.1 What is sourcing? 10.2 The strategic sourcing process 10.3 Sourcing information 10.4 Analysis of market conditions 10.5 Directives 10.6 E-sourcing 10.7 Supplier evaluation 10.8 Supplier approval 10.9 Evaluating supplier performance 10.10 Policy issues in sourcing 10.11 The supplier base 10.12 Outsourcing 10.13 Make vs buy 10.14 Sub-contracting 10.15 Partnering 10.16 Intellectual property rights 10.17 Procurement management of IPRs 10.18 Procurement support for in-house marketing 10.19 Intra-company trading 10.20 Procurement consortia 10.21 Sustainability 10.22 Sourcing decisions 10.23 Factors in deciding where to buy Discussion questions References 11 Purchase price management and long-term cost-in-use Learning outcomes Key ideas 11.1 What is price? 11.2 Strategic pricing - an introduction 11.3 The buyer's role in managing purchase prices 11.4 Supplier pricing decisions 11.5 The supplier's choice of pricing strategy 11.6 Tender pricing 11.7 Price and cost analysis 11.8 Competition legislation 11.9 Collusive tendering 11.10 Price variation formulae Discussion questions References Part 3 Public sector procurement and sustainable procurement 12 Public sector procurement Learning outcomes Key ideas Introduction 12.1 Understanding the context of public procurement 12.2 Procurement - an integral element of the commissioning cycle 12.3 The complexity and nature of public sector expenditure 12.4 Public Accounts Committee 12.5 Procurement of goods and services 12.6 EU financial thresholds 12.7 OJEU minimum timescale 12.8 Public procurement procedures 12.9 Pre-qualification to supply a public sector organisation 12.10 Tender evaluation 12.11 The Legal context of challenges to public sector contract award 12.12 Public sector risk 12.13 Public sector procurement fraud 12.14 Aviation Department Fraud - United States 12.15 Mighty River Power Ltd Fraud - New Zealand 12.16 The Fat Leonard Case USA 12.17 Public sector projects - procurement learning 12.18 Conclusion Discussion questions References 13 Sustainability and socially responsible procurement Learning outcomes Key ideas 13.1 What is sustainability procurement? 13.2 Sustainable Procurement Strategy 13.3 Sustainability as an objective in corporate strategy 13.4 Sustainable Procurement Policy 13.5 Sustainable Procurement Guide 13.6 Supply chain compliance 13.7 What is Social Value? 13.8 ISO 14001:2015 Environmental management systems 13.9 BS ISO 20400:2017 Sustainable Procurement 13.10 ISO 14031:2015 Environmental Management - Environmental performance evaluation: guidelines 13.11 Environmental impact of computers 13.12 Addressing environmental issues during the procurement process 13.13 Pre-qualification questionnaire - sustainability implications 13.14 New models for sustainable procurement 13.15 Environmental technical specifications 13.16 Sustainability achievements in public procurement 13.17 European Directive on clean energy-efficient vehicles 13.18 Contractual Implications of environmental and related considerations 13.19 Sustainability challenges for procurement 13.20 Multinational enterprises 13.21 The Kyoto protocol 13.22 Conclusion Discussion questions References Part 4 Strategy, tactics and operations 2: Operation and strategic performance 14 Project procurement and risk management Learning outcomes Key ideas Introduction 14.1 The project lifecycle 14.2 The project procurement strategy 14.3 Role of procurement 14.4 PRINCE 2® 14.5 Project management issues 14.6 Project risk management 14.7 Corporate benefits of world-class project procurement 14.8 Project risk register 14.9 Project audit 14.10 Procurement management Discussion questions References 15 Global sourcing Learning outcomes Key ideas 15.1 Terminology 15.2 Motives for buying offshore 15.3 Sources of information for offshore suppliers 15.4 Overcoming challenges when sourcing offshore 15.5 Incoterms® 15.6 Customs and Excise 15.7 Transport systems, costs and considerations 15.8 Freight agents 15.9 Methods of payment 15.10 Countertrade 15.11 The true cost of offshore buying 15.12 Global sourcing - Boeing case study 15.13 Buying capital equipment offshore 15.14 Factors in successful offshore procurement Discussion questions References Part 5 Strategy, tactics and operations 3: Negotiation skills, contract management, category and world class procurement 16 Negotiation skills, practice and business benefits Learning outcomes Key ideas Introduction 16.1 Approaches to negotiation 16.2 The content of negotiation 16.3 The negotiator's authority 16.4 The negotiation process 16.5 Pre-negotiation 16.6 The actual negotiation 16.7 Post-negotiation actions 16.8 What is effective negotiation? 16.9 Negotiation and relationships 16.10 Negotiation ethics Discussion questions References 17 Contract management Learning outcomes Key ideas Introduction 17.1 The pre-contract award activities impact on contract management 17.2 The contract manager's role, skills and knowledge 17.3 Contract management good practice (including VFM) 17.4 Contract management plans 17.5 Key performance indicators (KPIs) for contract management 17.6 Lapses in contract management 17.7 Social services contract monitoring audit 17.8 Contract provisions 17.9 Contract clauses and what they mean Discussion questions References 18 Category and commodity procurement Learning outcomes Key ideas Introduction 18.1 Defining categories 18.2 Illustrations of category management issues 18.3 The talent challenge 18.4 Category management - corporate travel 18.5 Category management - ICT 18.6 Capital investment procurement 18.7 Production materials 18.8 Raw materials 18.9 Futures dealing 18.10 Methods of commodity dealing 18.11 Procurement of non-domestic gas and electricity 18.12 Energy regulation 18.13 Energy supply chains in the UK 18.14 Markets 18.15 Pricing 18.16 Procuring energy contracts 18.17 Energy consultants and management 18.18 Component parts and assemblies 18.19 Consumables and MRO items 18.20 Construction supplies and bills of quantities 18.21 Procurement of services Discussion questions References 19 World-class procurement to enhance business performance Learning outcomes Key ideas 19.1 Innovation and supplier continuous improvement 19.2 Innovation 19.3 Environmentally sensitive design 19.4 Procurement involvement in product development 19.5 Supplier development 19.6 Procurement research 19.7 Procurement performance evaluation 19.8 Accounting approaches 19.9 The procurement management audit approach 19.10 Benchmarking and ratios 19.11 Integrated benchmarking 19.12 Procurement ethics 19.13 Ethical issues relating to suppliers 19.14 Ethical codes of conduct 19.15 Procurement and fraud 19.16 Cyber security Discussion questions References Appendix 1: Code of ethics-Your commitment to the profession Appendix 2: CIPS Code of Conduct (Adopted September 2013) Definitions, acronyms and foreign words and phrases Index of names and organisations and some publications mentioned in the text Subject Index Back Cover
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