Scm 421 Study guides, Class notes & Summaries

What are retail chains large enough to buy directly from manufactures called? - Answer- National Accounts What are retail chains large enough to buy directly from manufactures called? - Answer- National Accounts Which of the following is NOT a process that must be managed in the SCOR MODEL? - Answer- Assess Which of the following is NOT a process that must be managed in the SCOR MODEL? - Answer- Assess Your goal as a purchasing professional should always be to get the lowest possible...

Production planning and control systems are comprised of these 2 activities: - Answer- 1. Planning and control of materials "Materials management" 2.Planning and control of capacities "Capacity planning" Materials Management - Answer- supports the transformation of raw materials and component parts into shipped or finished goods Capacity Planning - Answer- The process of determining how much capacity is needed (and when) in order to produce in the future What materials do we bu...

True - Answer- T/F: The outsourcing decision is really about who can do it best Offshore Outsourcing - Answer- You work for a company located in the United States and have decided to buy customer contact center services from a company located in India. What is this is called? Make versus buy - Answer- What is the "who should do it" question also called? False - Answer- T/F: A buy decision is also called reshoring False - Answer- If the best supplier is located outside of your home ...

What are retail chains large enough to buy directly from manufacturers called? - Answer- National accounts Which of the following is not a process that must be managed in the SCOR model? - Answer- Assess Which of the seven "rights" of purchasing is the most important? - Answer- The right supplier Your goal as a purchasing professional should always be to get the lowest possible price - Answer- False What is the total cost of buying, using, and disposing of an item called? - Answer-...

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...

Purchasing in the pre 1970s - Answer- CLERICAL ERA -before WW2: purchasing was a clerical function -purchasing world -subordinated to other function within the firm Purchasing in the late 1980's-90's - Answer- TRANSACTIONAL ERA -materials costs= 60% of COGS in the U.S.A -traditional activities (purchasing) continued -new responsibilities included supplier management, lean management, and outsourcing Purchasing in the 2000's to present day - Answer- STRATEGIC ERA -from purchasing ...

SCM 421 Exam 1 Questions

Why Measure Supplier Performance? - Answer- • Uncover and remove hidden waste and cost drivers • Gain insight on how best to leverage the supply base • Align customer and supplier business practices • Improve supplier performance What is the most strategic thing procurement does? - Answer- select suppliers What is sourcing? - Answer- Selecting Suppliers What are the common supplier evaluation criteria? - Answer- • Financial health • Expertise • Operational performance...

Which of the following is contributing to an increased emphasis on risk management? a. Globalization b. Outsourcing c. Faster clockspeeds d. Increasing customer demands e. All of the above - Answer- all of the above Just-in-time is related to which other principle? a. Lean production b. Outsourcing c. Globalization d. Greater competition e. More complex supply chains - Answer- lean production Thomas Friedman's best-selling book The World is Flat was primarily concerned with what...

Supply Chain Management Notes