Strategic sourcing process Study guides, Class notes & Summaries

What are the 4 steps to category planning? - Answer- Step 1: Define Objectives (Create Visibility) Step 2: Get the Facts (Define Boundaries) Step 3: Develop a Plan (Establish Priorities) -Focus on the "Big" Stuff -Manage the Small Stuff Step 4: Implement the Plan; Evaluate the Results (Stay Organized—and disciplined) How do you define your company's strategic position? - Answer- Define strategy (customer, strategic position, value proposition) and purchasing's fit (role of purchas...

SCMN 2150 Test 2 with Complete Solutions 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 re- evaluates the purchasing activities of a company procurement the purchase of merchandise or services at the optimum possible total cost in th...

STRATEGIC SOURCING MNP3701 2 Index Page # CHAPTER 1 : INTRODUCTION TO PURCHASING AND SUPPLY CHAIN MANAGEMENT ...........................................................8 Building Relationships And Driving Innovation .........................................................................................................8 Improving Quality And Reputation .....................................................................................................................8 Reducing Time To M...

What is procurement? : The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. How does procurement differ from strategic sourcing and supply management? : Procurement is buying the merchandise or services while SS tries to improve the buying process and SM is setting up in order to attain what it needs. What is strategic sourcing? : The process of analyzing an organization's spending and using the analysis to make effective decis...

SCMN 3150 Test 2 Questions and Answers Already Passed What is procurement? The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. How does procurement differ from strategic sourcing and supply management? Procurement is buying the merchandise or services while SS tries to improve the buying process and SM is setting up in order to attain what it needs. What is strategic sourcing? The process of analyzing an organization's spend...

SCMN 2150 Test 2 Auburn University Questions and Answers 100% Pass 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 ...

What are the key decisions made by sourcing and logistics managers? Decisions of sourcing managers focus on acquiring material and service inputs; decisions of logistics managers focus on the movement of goods and/or services. ____ The key decisions made by sourcing managers relate to the sourcing function which sources inputs into the transformation process of the organization from other for-profit and nonprofit organizations. This might include finding the best suppliers, as well on ongoi...

Plan, Source, Make, Deliver correct answers What are the 4 ways supply chain creates value? Descriptive Analytics correct answers the use of data to understand past and current performance to make informed decisions Predictive Analytics correct answers use analytics to predict the future Prescriptive Analytics correct answers identify the best alternatives to minimize or maximize some objective Reasons to Make correct answers -portect proprietary technology -no competent supplier ...

SCMN 2150 Test 2 Exam Questions And Revised Correct Answers Supply management - ANSWER : 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 - ANSWER : an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company Procurement - ANSWER : the purchase of merchandise or...

What is procurement? : The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality What is strategic sourcing? : an institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company What is the difference between traditional purchasing and strategic sourcing? : strategic sources seeks for continuous improvement What are the steps in the procurement process and why is it important to foll...