Summary
Supplier Relationship Management - Summary [MNP3703]
- Course
- Institution
- Book
Complete summary of MNP3703 using the study guide as prescribed. 48 Pages of summaries and illustrations.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
MNP3703 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 12 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations....
-
MNP3703 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 12 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations....
-
MNP3703 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 12 September 2024 ; 100% TRUSTED Complete, trusted solutions and explanations....
Seller
Follow
RedmanR
Reviews received
Content preview
SupplierRelationship
Management
MNP3703
, Study Unit 1: What is Supplier Relationship Management?
1.1 Suppliers → Focus of purchasing management and strategic sourcing
Purchasing Management → systematic process of deciding what, when and how much to purchase → purchasing it +
the process ensuring → required is received on time + quantity and quality specified
Purchasing management → deals with processes used to obtain goods and services → satisfy needs of enterprise →
utilizing → following steps:
• identifying the need
• finding and choosing the right supplier to fulfil the need
• negotiating matters such as price, quality, and quantity with the supplier
• ensuring that the goods or services fulfilling the need are delivered according to the agreed conditions
• maintaining files and records to document the transaction
Strategic sourcing → process → spending is analyzed and categorized according → importance & cost of purchase as
well as the complexity of the supplier base. Supply based is then investigated → ensure correct relationship is formed
1.2 The nature of supplier relationships and the management thereof
The suppliers influence on relationship → focusing on 2 aspects
1. Value of business offered by buying organization → terms of supplier turnover levels
2. Level of attractiveness → buying organizations business has for supplier
Supplier perception model:
• Marginal: supplier views → buying organizations current business → non-essential.
• Exploit: Maximize own gain → along with marginal = least positive
• Develop: By increasing level of current performance → hope of escalating business dealings
• Core: Value of business + level of attractiveness → buying organizations are both significant
,Buyers influence on the relationship:
Buying organization will execute analysis of level of risk + complexity an item/service holds for the organization opposed
to value spend allocated to item/service
Supplying positioning model:
A buying organizations comparison of → perception model and the supply positioning model:
1.3 Types of relationships between buyers and suppliers:
Buyer/supplier relationship → compromises any interaction between a buying organization and a supplier. Either
positive (good) or negative (bad). Most successful relationships → byers + suppliers develop mutual trust
, Characteristics of 3 principle classes – transactional, collaborative and alliance buyer/supplier relationships.
Skills required for effectively managing buyer/supplier relationships:
The ability to adopt a shared understanding between partners.
• Ability to recognize → level of cultural match between partners.
• Skills to foster high quality relations.
• Ability to manage relationships through changes in contractual obligations.
• Skills to manage consortium-based relationships.
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 RedmanR. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.38. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
50064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now