INTRODUCTION
The first element of a firm’s “value added” chain is logistics. “Logistics management” is concerned with the supply, storage and movement of materials, personnel, equipment and finished goods within the organisation and between the organisation and its environment. Broadly, functions such as purchasing, materials management, distribution and
Maintenance fall within the logistics management area. An important element of “strategic logistic management” is “purchasing”. This course is primarily concerned with “purchasing”, with a particular focus on “vendor rating”