The Second Edition of "Purchasing and Supply Management" focuses on the next generation of professionals as it outlines the most current methods in purchasing and supply chain management. With W.C. Benton's step-by-step approach, both students and professionals can gain analytical purchasing skills. It includes real case studies and exercises that help students transform purchasing theory into purchasing practice and implementation. Some of the topics include purchasing business processes, price cost analysis, professional services, and transportation, global, and healthcare purchasing. Dr. Benton has published more than one hundred articles in the areas of purchasing management, inventory control, supply chain management, quality assurance, and materials management. He has been ranked number 1 out of 753 quality and quantity researchers in operations management, has served as a consultant for IBM, RCA, Frigidaire, and state Departments of Transportation, among others, and is the founder of the Purchasing and Supply Management Association (PSMA) at the Fisher College of Business.

Table of Contents

Preface Part 1: Introduction to Purchasing and Supply Management Chapter 1: Purchasing and Supply Management Chapter 2: Purchasing Decisions and Business Strategy Chapter 3: The Legal Aspects of Purchasing Part 2: Materials Management Chapter 4: Materials Management Chapter 5: Inventory Management Chapter 6: Just-In-Time (Lean) Purchasing Chapter 7: Purchasing Procedures, E-Purchasing, and Systems Contracting Part 3: Fundamentals of Purchasing and Supply Management Chapter 8: Supplier Selection and Evaluation Chapter 9: Strategic Outsourcing Chapter 10: Global Sourcing Chapter 11: Purchasing, Supply Partnerships, and Supply Chain Power Chapter 12: Total Quality Management (TQM) and Purchasing Part 4: Price/Cost Analysis and Negotiation Strategies Chapter 13: Price Determination Chapter 14: Bargaining and Negotiations Part 5: Special Purchasing Application Chapter 15: Purchasing Transportation Services Chapter 16: Equipment Acquisition and Disposal Chapter 17: Healthcare Purchasing and Supply Management Chapter 18: Procuring Professional Services