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By definition, procurement represents the process of obtaining goods and services from preparation and processing of a requisition to the approval of the invoice for payment. As Robert Monczka specifies in the book Purchasing and Supply Chain Management, purchasing is responsible for acquiring all the materials needed by an organization, and it is the function responsible for issuing purchase orders and initiating the flow of materials.
Gathering data for KPI results is one of the most common challenges that professionals face when measuring performance. An effective data gathering process should not only provide timely performance data, but also highly qualitative data. Designing such a process is indeed a challenge in itself, and establishing what quality data means is also a demanding task.
The Natural Resources Defense Council (NRDC) is an international nonprofit environmental organization, founded in 1970, whose mission is to protect the worlds’ resources, the public health and the environment worldwide.
As part of its efforts, the organization monitors several industries that require improvement in order to achieve higher sustainability levels in the future. The airline industry is one of them. It has committed to cut net carbon emissions by 2050, to half of the level achieved in 2005.
Frequently referred to as the blood which fuels an organization’s operations, cash is an economic reality that cannot be overlooked. Fulfilling cash requirements on a short term by either collecting, managing or investing is a fundamental responsibility of business managers and corporate treasurers.
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