This revised edition addresses a broad range of purchasing management issues in a down-to-earth, yet advanced and detailed approach. An evolutionary work, this edition aims to bridge the gap between the management vision of e-business potential and the experienced practitioner's real-world view to achieve the productivity benefits of successful implementation. A clear presentation of purchasing and supply management concepts enables the reader to implement buying practices that effectively integrate outside suppliers in satisfying their company's supply chain needs. A new chapter has been added, covering obsolescence management in electronic components -a vital new topic in the area of supply management. All other chapters have been updated and revised to include e-business applications. Supplier relationships are not defined solely by the terms of a contract or a purchase order, but evolve from many person-to-person exchanges between members of the selling and buying organizations. This work addresses the need for ever more refined skills for purchasing people to manage human and capital resources, and describes the application of process improvement tools such as: six-sigma probl