Summary of The Sourcing Solution

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Rating

7 Overall

9 Applicability

7 Innovation

6 Style

Recommendation

Purchasing is a critically important business function, although it lacks the glamour and excitement of, say, finance or sales. In the past, purchasing employees have often been little more than glorified clerks mired in price comparisons. Sometimes, their responsibilities included accompanying vendors to ballgames and such, activities that helped keep the purchasing pro’s mind off the fact that not many CEOs seemed to come up through the purchasing department. That may already be changing. Indeed, purchasing is now a career hot spot. Several trends - such as corporate demands for cost cutting and outsourcing, new electronic markets and auctions, globalization of customers and vendors, sharper supply-chain logistics technology, and the movement to create partnerships with suppliers - make purchasing substantially more important than ever before. Author Larry Paquette offers a short, lucid, quite readable summary of the essentials of purchasing in that light. getAbstract.com finds it an excellent, comprehensive and useful overview of sourcing.

In this summary, you will learn

  • How to think strategically about purchasing; and
  • How to adapt your purchasing policies to the business environment, now and in the future.
 

About the Author

Larry Paquette has more than 30 years of experience in materials management, purchasing, production and logistics with high-profile companies in the United States and the Far East, including Ampex Corporation, Silicon Graphics, Ridge Computers and Gould Electronics.

 

Summary

The Importance of Purchasing
Purchasing isn’t alone. Although policies, procedures and bureaucratic processes sometimes seem to insulate the purchasing manager from the rest of the corporation, purchasing is a critically important part of the overall business.

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