Research the following topics related to supply chain management: Procurement EDI Risk management RFID Supply chain uncertainty Select three of the topics listed and compose 3 paragraphs describing the topics (1 paragraph per selected topic) based on the course material and additional research you conduct online.
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Supply Chain Management
(Course Instructor)
(University Affiliation)
(Student’s Name)
(Date)
Discussion of Supply Chain Concepts
Procurement
Procurement refers to the process of making agreements, agreeing on terms and the acquisition of goods, services or work from an external source. Many people often fail to create a distinction between procurement and the purchasing process. However, Lan & Unhelkar (2006) distinguishes procurement from purchasing by pointing that procurement often involves all the activities involved in obtaining good, materials, products, services or work. In contrary purchasing is an act of buying and is considered an element of procurement. There are two types of procurement, direct and indirect procurement.
EDI
EDI (Electronic Details Interchange) is the exchange of business documents, which occurs over the computer platform in a standardized electronic format. EDI allows companies to exchange documents and information electronically. Such companies that conduct their businesses electronically are referred to as trading partners. Although EDI provides a platform where many business documents can be exchanged, the most common documents that are exchanged over the platform are invoices and purchasing orders.
Risk Management Risk management refers to the process of identification, assessment and control of threats to an organization capital and source of earning. The organization……………………………………………..Procurement EDI Risk management RFID…………………………………………………………………………………………………………………………………………………….
