Exam (elaborations)
MNP3701 STRATEGIC SOURCING FOR EXAM PURPOSES
- Course
- Institution
MNP3701 STRATEGIC SOURCING FOR EXAM PURPOSES Detailed work, solutions, memos, notes, and explanations
[Show more]
Seller
Follow
Excellentstudyresources001
Reviews received
Content preview
MNP3701 STRATEGICSOURCING FOR EXAM
PURPOSES
,STRATEGIC SOURCING
MNP3701
1
,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 Market
.............................................................................................................................. 8
Managing supplier risk................................................................................................................................... 8
Generating Economic Impact
............................................................................................................................ 8
Contributing To Competitive Advantage
................................................................................................................ 8
UNDERSTANDING THE LANGUAGE OF PURCHASING AND SUPPLY CHAIN MANAGEMENT ...................................................... 8
Supply Chains And Value Chains ........................................................................................................................ 9
Emerging SCM Technologies .......................................................................................................................... 13
Figure 1: THE DEVELOPMENT OF PURCHASING INTO STRATEGIC SOURCING, AND THE EVOLUTION OF SUPPLY MANAGEMENT .. 14
CHAPTER 2: THE PURCHASING PROCESS ............................................................................................................ 15
Elements Of The Purchasing Process ................................................................................................................ 15
Purchasing Objective .................................................................................................................................. 15
Supply Market Intelligence ........................................................................................................................... 16
Reasons For Not Being Strategic .................................................................................................................... 16
Strategic Supply Management Roles And Responsibilities Purchasing Responsibilities ............................................................ 16
Purchasing Responsibilities ............................................................................................................................ 16
Improve The Procure-To Pay Process ............................................................................................................... 18
P2P process as a cycle consisting of six major stages: ............................................................................................ 18
EXHIBIT 2.3: THE PURCHASING PROCESS ....................................................................................................... 18
Benefits of Electronic Documents .................................................................................................................... 18
Improving the Procure-to-Pay-Process consists of: ................................................................................................ 19
1. Forecast And Plan Requirements ............................................................................................................ 19
2. Clarify Requisition Needs .................................................................................................................... 19
Approval, Contract, And Purchase Order Preparation .............................................................................................. 21
Consists of the following: ............................................................................................................................. 21
Types Of Purchases ................................................................................................................................... 22
Improving The Purchasing Process ................................................................................................................... 23
Purchasing Objectives Summary ...................................................................................................................... 23
STUDY UNIT 3: CHAPTER 4: SUPPLY MANAGEMENT INTEGRATION FOR COMPETITIVE ADVANTAGE ..................................... 24
Integration ............................................................................................................................................. 24
Supply Integration Defined ........................................................................................................................... 24
Elements of Supply Integration ...................................................................................................................... 24
Internal Linkages ...................................................................................................................................... 24
External Integration .................................................................................................................................. 24
External Linkages ...................................................................................................................................... 24
Buyer-Supplier Collaboration ......................................................................................................................... 25
EXHIBIT 4.2: CHARACTERISTICS OF THE BUYER-SELLER RELATIONSHIP .................................................................. 25
Advantages of Closer Relations ...................................................................................................................... 25
Figure 3.1: Characteristics of the three principle classes – transactional, collaborative and alliance buyer-seller relationships ............ 26
Obstacles to Closer Relationships .................................................................................................................... 26
Critical Elements for Supplier Relationship Management (SRM) ................................................................................... 27
The following skills are required for effectively managing buyer-seller relationships: .......................................................... 27
Critical Elements – “Little r” ......................................................................................................................... 27
2
, Effective SRM ......................................................................................................................................... 27
SRM Skills ............................................................................................................................................. 27
Cross-Functional Teams ............................................................................................................................... 27
Advantages/Benefits of Cross-functional teams .................................................................................................... 27
Disadvantages/Potential Drawbacks of Cross-Functional Team (CFTs) Approach ................................................................. 28
When to Form a CFT ................................................................................................................................. 28
Improving Sourcing Team Effectiveness ............................................................................................................. 28
Questions Driving Use of CFTs ....................................................................................................................... 29
Selecting A Task ................................................................................................................................... 29
Selecting Team Members And Leaders ........................................................................................................... 29
Resource Support ................................................................................................................................... 29
There are several ways that management can practice subtle management control .......................................................... 29
Integrating Supply Management, Engineering And Suppliers To Develop New Products And Services .......................................... 30
Common Themes For Successful Supplier Integration Efforts ..................................................................................... 30
Supplier Integration Into Customer Order Fulfilment .............................................................................................. 31
Supplier Suggestion Programs ............................................................................................ Error! Bookmark not defined.
Buyer-Supplier Improvement Teams ................................................................................................................. 31
On-site Supplier Representatives .................................................................................................................... 32
Buyer’s Use of On-Site Supplier Reps ............................................................................................................... 32
Potential Benefits Of On-Site Supplier Representatives ........................................................................................... 32
PART 3: STRATEGIC SOURCING ....................................................................................................................... 34
STUDY UNIT 4: CHAPTER 6: CATEGORY STRATEGY DEVELOPMENT ............................................................................. 34
Supply Policy and Strategies ......................................................................................................................... 34
Aligning Objectives .................................................................................................................................... 34
How Companies Create Shareholder Value ........................................................................................................... 34
Integrative Strategy Development ................................................................................................................... 34
Components of Integrative Strategy ................................................................................................................. 35
Engaging Stakeholders To Build Category Strategy Objectives .................................................................................... 35
What Is Category Strategy? ......................................................................................................................... 35
Difference Between Category Strategies And Strategic Sourcing ................................................................................ 36
Conducting A Spend Analysis ......................................................................................................................... 36
Spend Analysis Spreadsheet .......................................................................................................................... 36
Category Strategy Development/The Strategic Sourcing Process (MOST IMPORTANT) ........................................................ 36
THE STRATEGIC SOURCING PROCESS ............................................................................................................ 37
Step 1: Team and Project Charter .................................................................................................................. 37
Step 2: Conduct Market Research ................................................................................................................... 37
Porter’s Five Forces Model ........................................................................................................................... 37
SWOT Analysis ........................................................................................................................................ 39
Benchmarking Analysis ................................................................................................................................ 39
Requests for information (RFI) ....................................................................................................................... 39
Value chain analysis ................................................................................................................................... 39
Supplier research ...................................................................................................................................... 39
Step 3: Strategy Development ....................................................................................................................... 39
Portfolio analysis ...................................................................................................................................... 39
Step 5: Supplier Relationship Management (SRM) .................................................................................................. 43
3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Excellentstudyresources001. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.67. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
64438 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now