Scmn 2150 test 2 Study guides, Class notes & Summaries

SCMN 2150 Test 2 Exam Questions With Verified Answers The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. - answerWhat is a procurement? Institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company - answerWhat is strategic sourcing? strategic sourcing plays a more intense role in evaluating the the best possible price based on other aspects that affect selling the product vs ...

What is procurement? - Answer-process of actually purchasing goods and services How does procurement differ from strategic sourcing? - Answer-Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? - Answer-obtain (goods or a service) from an outside or foreign ...

SCMN 2150 Test 2 Auburn University with complete solution ( Latest updated )

What is logistics? : The part of supply chain management that focuses on the planning, implementation, and control of the flow and storage of goods, relevant info., and related services What is fulfillment? : The primary method of distributing product to a store. The process that begins with an order inquiry and ends with the delivery of a product to a customer. Why have logistics and fulfillment grown in importance? : Promotes activity and strategic integration, boosts demand, promot...

What is procurement? : process of actually purchasing goods and services How does procurement differ from strategic sourcing? : Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? : obtain (goods or a service) from an outside or foreign supplier, espec...

What is procurement? - correct answer process of actually purchasing goods and services How does procurement differ from strategic sourcing? - correct answer Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? - correct answer obtain (goods or a service) fr...

supply management : The identification, acquisition, access, positioning, management of resources and related capabilities the organization needs or potentially needs in the attainment of its strategic objectives strategic sourcing : an institutional procurement process that continuously improves and reevaluates the purchasing activities of a company procurement : the purchase of merchandise or services at the optimum possible total cost in the correct amount and quality At the righ...

SCMN-2150 Test 2 Questions And Revised Correct Answers What is a procurement? - ANSWER : Purchase of merchandise/services at the optimum total cost, correct quantity, time and quality (day to day purchasing function) What is strategic sourcing? - ANSWER : 1) what to buy and from where (focus on improving) 2) The institutional process that continuously re-evaluates and improves the purchasing activities of a company. Differences between traditional purchasing and strategic sourc...

SCMN 2150 - Test 2 Gibson Questions And Revised Correct Answers Which characteristic of high quality data ensures that the data is portable and readable by multiple systems - ANSWER : Transferability (T/F) Companies are actively investing in supply chain technology to enhance the customer experience and support growth. - ANSWER : True This software extracts data from operating systems across the supply chain to a data warehouse where it is quickly analyzed and sent to decision...

SCMN 2150- test #2 Questions & Answers 3 main steps of supply chain. - ANS-1. supply chain 2. strategic sourcing 3. procurement goal of supply management. - ANS-buy products and services; at the right price; from the right source; at the right specification; in the right quantity; for delivery at the right time; to the right internal customer importance of supply management. - ANS-ability to generate a sustainable advantage through lower costs, higher quality, and better service from our...