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SCMN 3730 EXAM 1 ACTUAL EXAM GUIDE 2024|BRAND NEW EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+|GUARANTEED SUCCESS|LATEST UPDATES FOR $14.49
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SCMN 3730 EXAM 1 ACTUAL EXAM GUIDE 2024|BRAND NEW EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+|GUARANTEED SUCCESS|LATEST UPDATES FOR
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SCMN 3730
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SCMN 3730
SCMN 3730 EXAM 1 ACTUAL EXAM GUIDE 2024|BRAND NEW EXAM QUESTIONS AND CORRECT ANSWERS ALL GRADED A+|GUARANTEED SUCCESS|LATEST UPDATES FOR
what are the features of the new model of progressive purchasing? - ANSWER-1. closer relationships with important suppliers
2. performing due diligence...
SCMN 3730 EXAM 1 ACTUAL EXAM
GUIDE 2024|BRAND NEW EXAM
QUESTIONS AND CORRECT ANSWERS
ALL GRADED A+|GUARANTEED
SUCCESS|LATEST UPDATES FOR 2024-
2025
what are the features of the new model of progressive purchasing? - ANSWER-✅1.
closer relationships with important suppliers
2. performing due diligence on suppliers before awarding long-term contracts
3. conducting worldwide searches for the best sources of supply
4. inviting key suppliers to participate in produce & process development
what is meant by direct materials? - ANSWER-✅items provided by suppliers & used
directly during production or service delivery
ex: raw materials, components & sub assemblies
what is meant by indirect materials & services? - ANSWER-✅the sum of all
purchased goods & services that are not a direct, identifiable part of products or
services delivered to the customer
what is the average percentage of purchases to sales in the manufacturing sector? -
ANSWER-✅55%
explain the relationship between outsourcing & core competencies - ANSWER-✅-
availability of low-cost alternatives has led to shifts toward outsourcing & offshoring
activities
- must now evaluate the economics of re-shoring & near-shoring
what is the difference between purchasing/procurement & supply management? -
ANSWER-✅
,what is meant by the term cross-functional? - ANSWER-✅involves purchasing,
engineering, supplier quality assurance, the supplier, & other related functions
working together as one team, early on, to further mutual goals
what factors are driving an emphasis on supply chain management? - ANSWER-✅
what are the 4 pillars of purchasing & supply chain management? - ANSWER-✅-
human resources
- organizational design
- information technology
- measurement
definition of supply management - ANSWER-✅involves proactively managing the
two-way movement & coordination of goods, services, information & funds from
raw material through end user
why is purchasing important? - ANSWER-✅- increasing value & savings
- building relationships & driving innovation
- improving quality & reputation
- reducing time-to-market
- managing supplier risk
- generating economic impact
- contributing to competitive advantage
what is maverick buying? - ANSWER-✅when failing to respond to the needs of
internal customers will diminish the confidence these users have in purchasing, so
they then try to negotiate contracts themselves
what are the steps in the purchasing cycle? - ANSWER-✅1. purchase order creation
2. budget check & RFP
3. vendor qualification & selection
4. negotiation & PO dispatch
5. delivery & quality check
6. purchase order matching & closure
what are the circumstances when a spot buy would be appropriate? - ANSWER-
✅when buyers prefer a purchase order for initial purchases or a one-time purchase
what does it take to become a preferred supplier? - ANSWER-✅- receive the first
opportunity for new business
- has demonstrated its performance capabilities through previous purchase contracts
explain when it is appropriate to issue a blanket order & what this means - ANSWER-
✅- usually open for 1 year
- used for repeated purchases of item of family of items
- release materials as needed vs issuing new purchase order each time
- purchase order remains open during specified term
, - importance of escape clause
what are raw materials? - ANSWER-✅material that goes into making the final
product
ex: coal, lumber, metals
what are MRO items? - ANSWER-✅maintenance, repair, & operating items include
anything that does not go directly into an organizations product
ex: space machine parts, office supplies, cleaning supplies
what is capital equipment? - ANSWER-✅involves buying assets intended for use
exceeding one year (do not occur with regular frequency)
what are production support items? - ANSWER-✅materials required to pack & ship
final products
ex: pallets, boxes, tape, bags
list of purchasing objectives - ANSWER-✅1. supply assurance
2, manage sourcing process efficiently & effectively
3. supplier performance management
4. develop aligned goals with stakeholders
5. develop integrated supply strategies that support business goals & objectives
what is the most important purchasing objective? - ANSWER-✅support business
goals & objectives
the five rights of purchasing - ANSWER-✅1. getting the right quality
2. in the right quantity
3. at the right time
4. for the right price
5. from the right source
what is P2P? - ANSWER-✅- procure to pay process
- automation of all transactional activities associated with the thread events that
occur from the time of buying a good or service, through the release mechanism, to
the point of issuing payment
what are the major stages of P2P? - ANSWER-✅1. forecast & plan requirement
2. need clarification/requisition
3. supplier identification & selection
4. approval & contract
5. receive material & documents
6. settle, pay, & measure performance
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