SCMN 2150 Test 2 Auburn University Exam Review Questions & Answers

SCMN 2150 Test 2 Auburn University Exam Review Questions & Answers 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 supplier, especially in place of an internal source. What costs and challenges are involved in outsourcing? - ANSWER-slower turnaround time. lack of business or domain knowledge. language and cultural barriers. time zone differences. lack of control. What is production? - ANSWER-The process by which inputs are combined, transformed, and turned into outputs. We can produce both goods and services What are the three key components of production? - ANSWER-1. input 2. transformation 3. output What is the focus of lean production? - ANSWER-f... Continues...