article thumbnail

Cost Performance Index (CPI): What is it and How to Calculate it?

SCMDOJO

While CPI is normally used within project management and earned value analysis, it has significant application and importance within supply chain contexts, particularly in procurement, logistics and warehousing. Example: If a company planned to procure materials worth $100,000 but ended up spending $120,000. A CPI of 0.83

article thumbnail

Complete Guide to the Procurement of Materials

World of Procurement blog

The procurement of materials is a vital process in supply chain management, involving the timely acquisition of high-quality goods and services at the most economical prices from reliable suppliers. Effective procurement strategies require a deep understanding of market trends, supplier landscapes, and the latest technologies.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Complete Guide to the Procurement of Materials

World of Procurement blog

The procurement of materials is a vital process in supply chain management, involving the timely acquisition of high-quality goods and services at the most economical prices from reliable suppliers. Effective procurement strategies require a deep understanding of market trends, supplier landscapes, and the latest technologies.

article thumbnail

What Exactly Is Procurement? And What is Purchasing?

Supply Chain Game Changer

For his entire career my Father worked in the field of Procurement. But the job titles that he had during his career alternatively included either the word Procurement or the word Purchasing. But was that Procurement or was it Purchasing? What exactly is Procurement? Procurement. 10 Different Definitions!

article thumbnail

The Big Interview with Gordon Hall

Procurement Heads

For Procurement Heads ‘ latest Big Interview, he spoke with Kane Nurse about his procurement career. How did you get into procurement? It’s an interesting story, procurement wasn’t a predefined career choice by any means. I actually fell into procurement.

article thumbnail

The Big Interview with Gordon Hall

Procurement Heads

For Procurement Heads ‘ latest Big Interview, he spoke with Kane Nurse about his procurement career. How did you get into procurement? It’s an interesting story, procurement wasn’t a predefined career choice by any means. I actually fell into procurement.

article thumbnail

Using Lean to Manage Inventory!

Supply Chain Game Changer

Value Analysis (VA) can be used to reduce costs and retain quality. SCM #SupplyChain #inventory #logistics #procurement. Deming and Bill Smith respectively were reintroduced to US businesses. Lean inventory management uses the concepts of TQM and Six Sigma to eliminate. Infographic). The post Using Lean to Manage Inventory!