Dictionary of Procurement Terms

1. The actions and values responsible for continuous improvement of the design, development, and management process of an organization’s supply system, with the objective of improving its profitability and the survival of its customers and suppliers. SCM has a major impact on net income and shareholder value. (Burt, Dobler, and Starling 2003) 2. The identification, acquisition, access, positioning, and management of resources an organization needs to attain its strategic objective. (ISM 2000) See Also: Materiel Management.