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The purchasing and supply function has gained significant recognition as a vital source of profit for corporations, prompting many companies, including IBM and Bristol-Myers Squibb, to establish Chief Purchasing Officer (CPO) roles. For over thirty years, this handbook has served as a crucial reference for purchasing and supply professionals globally. With contributions from over 100 experts, it offers comprehensive coverage of key topics, enabling informed decision-making across various purchasing areas. The updated 6th Edition features 20 new chapters, providing essential and contemporary information that managers must know for future procurement challenges. Topics include globalization, industry consolidation, technological advancements, supply chain synchronization, e-commerce, strategic procurement, supplier integration, and more. The first decade of the 21st century is set to witness significant advancements in purchasing and supply management technologies and strategies. This edition not only addresses current trends but also simplifies complex principles for practical application. Its blend of essential reference material and insightful research makes it an invaluable resource for purchasing managers, ensuring it remains a staple in their professional libraries.