Driven by a down economy and difficult economic realities, many organizations are discovering that what worked well in the past may not be what is needed now to move forward or even survive. This comprehensive and analytical resource draws comparisons between practicing basic procurement and the more advanced modern principles of strategic supply management, and clearly demonstrates how merely practicing the basic procurement principles and methods of the past in our new economy can lead to disastrous consequences. This valuable guide shows readers how to attain best-in-class supply management performance to help ensure survival and achieve competitive advantage. For the individuals in the trenches actually doing the work, it shows why strategic supply management and procurement practices are important to their jobs, why and how to use them, and what benefits can be derived from using them. Supply Management and Procurement: From the Basics to Best-in-Class contains proven tools and techniques and a wealth of information that procurement and supply management professionals at any level can use to improve both their organization's performance and their individual performance in real-world situations they face on a daily basis. This unique text is ideal for individual learning, corporate training, and academic course instruction.