From the course: Business Acumen for Project Managers

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Insights on procurement, operations, and logistics for PMs

Insights on procurement, operations, and logistics for PMs

From the course: Business Acumen for Project Managers

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Insights on procurement, operations, and logistics for PMs

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- There's a quote that I love from Business Guru Tom Peters. "Leaders win through logistics. Vision? Sure. Strategy? Yes. But when you go to war, you need to have both toilet paper and bullets at the right place at the right time. In other words, you must win through superior logistics." Logistics are important, but so are purchasing and operations. And in this movie, we'll look at how all three of these critical functions work together in a company's supply chain. Let's start with purchasing. Every organization buys things. For example, manufacturers buy the ingredients or the components that they use to manufacture products and stores buy inventory that they'll sell to customers. The materials that companies buy so that they can add value and sell them are called direct materials or direct costs. But they also have to buy things that they don't necessarily sell. Racks for the warehouse, paper for the copy machines,…

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