Financial Management in Procurement

Financial management in procurement should aim to maximise value for every member in the value chain while minimising costs and reducing risks (Monczka et al., 2009)

Information about Financial Management in Procurement

Related concepts

Costing Techniques

No purchasing professional can afford to be unaware of the various cost accounting approaches (Lysons and Farrington, 2006)

Find out more

Cost-to-Serve Model (CTS)

Cost-to-serve methods are flexible and free from heavy prescriptions … [they] can be applied at varying levels of sophistication from simple spread sheets to...

Find out more

Economic Value Added (EVA)

What separates EVA from other performance metrics ... is that it measures all of the costs of running a business-operating and financing (Stern Stewart and Co).

Find out more