Procurement

Definition of Procurement as it relates to Business, Supply Chain Management, Project Portfolio Management

Portfolio management refers to the centralized management of one or more portfolios, which may consist of assets, programs, and/or projects. The goal is to optimize resource allocation, balance risk and return, and ensure strategic alignment with business objectives. In the context of supply chain management, portfolio management can be applied to manage a company's network of suppliers, logistics providers, and other partners to maximize efficiency and minimize risk. Project portfolio management specifically focuses on managing a group of projects to achieve strategic goals and align resources with business priorities. Overall, portfolio management is an essential tool for businesses seeking to effectively allocate resources and maximize returns in a complex and dynamic environment.

Note
Related Categories ⇒