<p>Copyright TM Forum 2005<br/></p><p><br/></p><p><b>Extended Description</b><br/></p><p><br/></p><p>Procurement Management processes define corporate procurement and logistics policies and rules, for all purchases, warehousing, transport and physical resource distribution, and supervise their application.  These processes manage and control the acceptance of goods from suppliers and any transport arrangements to deliver the goods to either warehouses or site.  They define the warehousing structure (centralized and/or distributed) and the associated management policies to be applied to purchased goods. The logistics/transport processes develop policies related to transport of purchased material to warehousing, to site, etc. The stock/inventory management processes, in conjunction with Asset Management processes which provide the inventory information resource, develop corporate policies relating to locations of, and levels of, stock/inventory holdings.<br/></p>