Key Features NEW AND UPDATED VIGNETTES AND EXAMPLES REFLECT THE LATEST DEVELOPMENTS FROM TOP PURCHASING EXECUTIVES WORLDWIDE. The authors have tapped into their industry connections worldwide to present insights and memorable examples from leading purchasing executives and the latest research initiatives. Students gain a better understanding of the most recent critical developments in the field as well as the impact of the recent recession and ongoing business uncertainty on today's supply chain. NUMEROUS NEW"GOOD PRACTICE" EXAMPLES ILLUSTRATE STELLAR CASES OF THE CHAPTERS' TOPICS IN ACTION. Intriguing"Good Practice" examples at the conclusion of each chapter integrate the chapter's topics while exemplifying some of the latest developments in purchasing and supply chain management today. UPDATED DISCUSSION QUESTIONS AND ADDITIONAL READINGS PROVIDE INSIGHTS INTO PURCHASING TODAY. Students gain a better understanding of the strategies, processes, and practices of purchasing as this edition's new discussion questions prompt engaging class interaction. Additional recommended readings further equip future managers with a better understanding of how purchasing and supply chain management directly impact an organization's profitability. UPDATED CENTER-LED ORGANIZATION DISCUSSIONS GIVE STUDENTS A BETTER UNDERSTANDING OF THIS NEW, EFFECTIVE MODEL OF PROCUREMENT. Students gain a better understanding of the advantages, challenges, and flexibility that today's center-led organizational model can provide. THE LATEST RESEARCH REFLECTS TODAY'S NEW DEVELOPMENTS IN SUPPLY CHAIN MANAGEMENT AND PURCHASING. Students gain a better understanding of the latest changes, such as the procure-to-pay (P2P) process covered in Chapter 2. NEW EXAMPLES REFLECT TODAY'S EMERGING INDUSTRIES. This edition provides new supply management case examples and snapshots from the growing healthcare and service industries. UPDATES DETAIL THE ROLE OF CORPORATE SOCIAL RESPONSIBILITY IN PROCUREMENT TODAY.