Supply management is also known as procurement at many firms and government agencies. True?

1) TRUE

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Although in many firms and especially government agencies connect supply chain management mostly with procurement, but this just a half true. Supply chain management is more than this. Supply chain management seeks to achieve connection and co-operation of all parties (suppliers, customers as well the organization itself) in whole supply process.

1) TRUE+______________________________________

option 1 true is the answer...............

1) True.Some times it's called supply management 

True. Although procurement should be more concerned on the short term sourcing and supply management should be more focused on strategic sourcing, supplier selection and qualifying.

I am not sure but as per above answer it was true.

wait more details answer from expert

• This is very important question.  Because this both system goes to hand to  hand.  And the answer is  TRUE.  

Hello Team,

Every organization needs suppliers. No organization can exist without suppliers. Therefore, the organization’s approach to suppliers, its acquisition processes and policies, and its relationships with suppliers will impact not only the performance of the suppliers, but also the organization’s own performance. No organization can be successful without the support of its supplier base, operationally and strategically, short- and long-term. Supply management is focused on the acquisition process recognizing the supply chain and organizational contexts. Special emphasis is on decision making that aligns the supplier network and the acquisition process with organizational goals and strategies and ensures short- and long-term value for funds spent. There is no one best way of organizing the supply function, conducting its activities, and integrating suppliers effectively. This is both interesting and challenging. It is interesting because the acquisition of organizational requirements covers a very wide and complex set of approaches with different needs and different suppliers. It is challenging because of the complexity and because the process is dynamic, not static. Moreover, some of the brightest minds in this world have been hired as marketing and sales experts to persuade supply managers to choose their companies as suppliers. It is also challenging because every supply decision depends on a large variety of factors, the combination of which may well be unique to a particular organization. For more than 75 years, this text and its predecessors have presented the supply function and suppliers as critical to an organization’s success, competitive advantage, and customer satisfaction. Whereas in the 1930s this was a novel idea, over the past few decades there has been growing interest at the executive level in the supply chain management and its impact on strategic goals and objectives. To increase long-term shareholder value, the company must increase revenue, decrease costs, or both. Supply’s contribution should not be perceived as only focused on cost. Supply can and should also be concerned with revenue enhancement. What can supply and suppliers do to help the organization increase revenues or decrease costs? should be a standard question for any supply manager. joh7896_ch01_001_025.indd oh7896_ch01_001_025.indd 33/31/10 /31/106:36 PM 6:36 PM FIRST PAGES Chapter 1 Purchasing and Supply Management 3 The supply function continues to evolve as technology and the worldwide competitive environment require innovative approaches. The traditionally held view that multiple sourcing increases supply security has been challenged by a trend toward single sourcing. Results from closer supplier relations and cooperation with suppliers question the wisdom of the traditional arm’s-length dealings between purchaser and supplier. Negotiation is receiving increasing emphasis as opposed to competitive bidding, and longer-term contracts are replacing short-term buying techniques. E-commerce tools permit faster and lower-cost solutions, not only on the transaction side of supply but also in management decision support. Organizations are continually evaluating the risks and opportunities of global sourcing. All of these trends are a logical outcome of increased managerial concern with value and increasing procurement aggressiveness in developing suppliers to meet specifi c supply objectives of quality, quantity, delivery, price, service, and continuous improvement. Effective purchasing and supply management contributes significantly to organizational success. This text explores the nature of this contribution and the management requirements for effective and efficient performance. The acquisition of materials, services, and equipment—of the right qualities, in the right quantities, at the right prices, at the right time, with the right quality, and on a continuing basis—long has occupied the attention of managers in both the public and private sectors. Today, the emphasis is on the total supply management process in the context of organizational goals and management of supply chains. The rapidly changing supply scene, with cycles of abundance and shortages, varying prices, lead times, and availability, provides a continuing challenge to those organizations wishing to obtain a maximum contribution from this area. Furthermore, environmental, security, and financial regulatory requirements have added considerable complexity to the task of ensuring that supply and suppliers provide competitive advantage.

Regards,

Saiyid

Agree with Rami Abbas.  However. it is a error in understanding as the people who design the organizational chart is not aware of  the difference.