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Purchasing & Supply Management

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Explain the role of Purchasing and Supply Management in new product development as well as development of specifications and a standardization program. How can cross-functional teams be used in the creation of specifications for new products as well as procedures and processes for establishing and maintaining an effective standardization program?

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This solution provides an explanation of the role of purchasing and supply management in new product development as well as development of specifications and a standardization program. It discusses how cross-functional teams can be used in the creation of specifications for new products. The explanation is provided in 209 words with one reference.

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Purchasing and Supply Management plays an important role in product development as well as development of specifications and a standardization program. As per council of logistics management, It helps in planning "implementing, and controlling the efficient, effective flow and storage of goods, services, and related information from point of origin to point of ...

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