Write a short statement explaining what each area within the procurement and supply field is responsible for.

Here are the explanations for each area within the procurement and supply field:

• Procurement: Responsible for the strategic process of acquiring goods, services, or works from external sources, including supplier selection, negotiation, and contract management.
• Purchasing: Focuses on the transactional process of buying goods and services, including placing orders, expediting deliveries, and processing payments.
• Buying: Often used interchangeably with purchasing, it specifically refers to the act of acquiring goods or services, typically at a more operational level.
• Supply chain: Manages the entire flow of goods, services, and information from the point of origin to the point of consumption, aiming to maximize customer value and achieve a sustainable competitive advantage.
• Material Management: Oversees the planning, acquisition, storage, and movement of raw materials, components, and finished goods within an organization to ensure availability and minimize costs.
• Distribution: Deals with the movement of finished goods from the manufacturer or supplier to the end customer, including warehousing, order fulfillment, and transportation.
• Logistics: Plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption.
• Contract management: Ensures that all parties adhere to the terms and conditions of a contract, managing the relationship, performance, and compliance throughout the contract lifecycle.