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BUS M 200 Final Exam.
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BUS M 200 Final Exam.
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BUS M 200 Final ExamSteps in the Supplier Management Process (7) - ANS-1. Identify need
2. Select Supplier
3. Develop Supplier
4. Provide Feedback
Identify need (7) - ANS-The 1st step in the supplier management process. Identifying
what is needed is called specification. There's Material, Service, and Relationship needs
Material needs (7) - ANS-Specification for materials can be simple or complex. A
general guide vs a recipe.
Service needs (7) - ANS-A specification for a service need is called a "scope of work."
Relationship needs (7) - ANS-Different relationship needs. Important ones are
transactional and collaborative
Transactional relationships (7) - ANS-"Arm's length," short-term, no critical items or
information sharing, low importance of technology, supply risk, and switching costs.
Collaborative relationships (7) - ANS-Long relationships, dealing with critical items.
Supplier and firm work together, because the switching cost and supply risk is high.
There's information sharing and teamwork.
Supplier selection (7) - ANS-The 2nd step in the supplier management process:
1. Identify the requirements for the future supplier
2. Search for potential suppliers
3. Evaluate potentials
4. Choose a supplier through a negotiation process.
Identify the requirements for the future supplier (7) - ANS-1s step in supplier selection.
Use weighted factor analysis for this (WFA). Know this math for WFA.
Search for potential suppliers (7) - ANS-Can do this through current suppliers, the
internet, trade shows, professional organizations, etc. Once you have a list of potentials,
send out a "Request for Quote" or "Request for Proposal" (RfQ/RfP)
, Evaluate potential suppliers (7) - ANS-Use a supplier self assessment to gauge their
company's fit with your unique needs. Can also conduct financial analysis, visit their
plant, and perform a WFA (know the math again).
Negotiating the agreement (7) - ANS-Three steps to a negotiation:
1. Prepare (90% of time doing this)
2. The face-to-face negotiation (you want a win-win here, think the tanks and doves
simulation)
3. Debrief (assess how it went)
Supplier development (7) - ANS-The process of helping your supplier improve their
performance in areas such as cost, delivery, and quality. (7 specific steps but I'm not
sure we have to know them).
Providing feedback (7) - ANS-Do this using a supplier scorecard.
Supplier scorecard (7) - ANS-identifies what metrics are most important to your
company, and evaluates your suppliers with the metrics. This helps you figure out areas
where your supplier could improve. (know how to calculate this)
Parts per million (PPM) defect rate (7) - ANS-Performance measurement = [number of
defects / total opportunities for defects] x 1,000,000
Percent PPM improvement (7) - ANS-The simplest way to think about it is:
[(old - new)/old] x 100
Logistics (11) - ANS-The transportation and storage of goods and materials
Fundamental logistics trade-offs (11) - ANS-1. Cost-to-cost: trading off speed of delivery
with saving fuel. (math problem for this)
2. Modal trade-offs: trade off between various modes of transportation.
3. Cost-to-service: The cost of improving service, based on the law of diminishing
returns. Basically as you increase service/quality, its more expensive.
Lean (11) - ANS-Holding less inventory (reducing holding costs) and shipping more
frequently (higher transportation costs)
Five logistics processes (11) - ANS-1. Demand processing
2. Inventory management
3. Transportation
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