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Effective management of resources in a dynamic, multiproject environment requires consideration of two key issues: the availability of each of the multiple resources and the method of scheduling these resources to complete activities and, subsequently, projects. Identifies the trade‐offs between performance and the availability of multiple resources, when some resources are more costly than others. Finds that there are significant effects when the level of either the costly resources or the cheaper resources are varied, that trade‐offs can be made by reducing the availability of the costly resources and increasing the availability of the cheaper resources and that the improvement in completion time performance is reasonably linear over the tested ranges and the rates of improvement differ over the ranges. Describes the resource allocation factors and treatments as well as the scheduling heuristics. Uses a finite scheduling algorithm along with the prioritization heuristics to schedule the constrained multiple resources simultaneously and a simulation to replicate the environment. Develops linear regressions to provide further insight.

The potential of the purchasing function to increase shareholder value is not well publicized and hence not widely recognized. This fact becomes self‐evident when the effect of purchasing strategies on performance is well understood. With an increasing number of organizations embracing long‐term oriented collaborative relationships, studies looking at performance implications of contemporary purchasing practices are particularly timely. Attempts to provide empirical evidence linking four purchasing strategies to two dimensions of procurement performance: effectiveness and efficiency. Results indicate that purchasing managers can enhance the effectiveness and efficiency of their purchasing efforts via cooperative negotiation with a small base of suppliers and by establishing collaborative long‐term oriented relationships with them, revealing the impressive ability of the purchasing function to enhance shareholder‐value.

Politics in human societies represents a variation, and elaboration, on a major evolutionary theme. Political processes have played an important functional role in goal-oriented, cooperative social systems in the natural world. This view of politics is also consistent with a causal theory – known as the Synergism Hypothesis – which explains the rise of complexity in evolution over time and, equally important, the frequent examples of devolution and dissolution. In addition to a brief discussion of this theory, the evolution of political systems in humankind will be described, from its possible origins among our remote australopithecine ancestors to the emergence of complex modern civilizations. Now, however, we confront an existential threat to our species, and to many others, due mainly to climate change. The future is very problematic. I will argue here that the only viable path going forward is a new social contract coupled with (democratic) global governance – a global “superorganism.”

Value‐based management focuses the efforts of individuals and managers on the creation of value. Starts with an analysis of the literature on general management and materials management and then extends that analysis to the concept of the value system. Identifies particular management variables which are key to efforts in creating value, e.g. organization structure and hierarchy, centralization, information systems, external relationships, job responsibilities and formalization, performance measurement system, and education and training. Groups these into two broad areas: organization design; and human resource management practices. Collectively these variables form the framework for value‐based management. Describes the nature of these variables in both a traditional, function‐based organization and the more contemporary value‐based organization. Applies the value‐based framework to procurement, identifying those actions needed by managers in the transition of the efforts of procurement individuals towards the creation of value.

The paper aims to survey the main usages of the term “value” in the economics, marketing, strategy and operations fields.

The way in which all four fields adopt an unbalanced approach, concentrating exclusively on the customer's perspective, is highlighted. A complete, balanced analysis including both the customer and supplier perspectives is outlined. The precise meaning of the term value is then explored in detail, revealing and exploring the difference between the potential and realised versions.

These insights are applied to an analysis of the concept of the “value chain” leading to the conclusion that, given the ontology of value, much of the language used to describe value and chains is deeply misleading.

The paper ends with a discussion of the possible effects of this ontological and linguistic sloppiness on practitioners and business practice. By bringing clarity to the real meaning of value in trade it may be possible to improve the effectiveness of the use of the word by management as a motivational tool for enhancing company performance.

The paper offers a clear, detailed explanation of the nature of value in trading relations.

Reports on an exploratory study (mail survey) of industrial supplier satisfaction with the purchasing partnership format and how these agreements can relate to current market conditions. The respondent sales managers had very positive attitudes toward, and expectations from, purchasing partnerships. For some, these partnerships appear to be the only way to compete in an unstable market. It appears that the responsibility for keeping the arrangement mutually profitable is that of the supplier. It also seems that top managers will have to be more involved with these accounts because of the large sales volumes generated by each. The suppliers reported a need for a better flow of information from buyers which can be facilitated by a purchasing partnership. The major partnership challenges for suppliers are to maintain fair profit margins for themselves and to build buyer loyalty so that competitors cannot interrupt the relationship.

The Six Sigma and Lean Production methodologies suggest that creating value for customers is the objective of a production process or an organisation. In the production context, “added value” dominates the discussion about the creation of value to customers. However, “added value” is often only defined conceptually or discussed at a strategic level, and the link between added value and customer value has not yet been well conceptualised. Therefore, the purpose of the paper is to develop a methodology to measure added value in order to complement the existing performance measures in Six Sigma and Lean Production by conceptualising the link between customer value and added value. The conceptual link “confirms” that quality, time, and costs are the elements of added value, which are transformed into a metric to express customer value. The implementation of the metric recommends the adoption of Lean (Six) Sigma and Lean Accounting (Activity Based Costing), which thus implies that “leanness” is an important “feature” of added value.

Like it or not, change is inevitable if you are to survive. Far better to instigate change than allow other people to inflict it on you. To anticipate the future has to be good to allow time to implement change rather than having to react to it. This appears quite simple, but is it? This special themed issue of Management Decision contains a number of examples of how organizations have managed change. Lessons can be learned from other industries than your own with regard to best practice and basic principles which can then be applied to your own organization..