Upon completion of this chapter, the reader should be able to:

2.1 Explain the relationship between purchasing and competitive strategy.

2.2 Describe the impact of competitive strategy and purchasing strategy on the supply chain and supplier relationships.

2.3 Discuss the competitive ranking system used to control quality relationships between suppliers and buyers.

2.4 State the decision-making factors that impact a buying decision.

2.5 Demonstrate how to develop a strategic sourcing plan.

2.6 Identify the continuing trends of purchasing and supply chain management.