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OMGT TEST 2 3123 ECU || 100% PASSED ANSWERS.
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Supply Management Defined correct answers Sourcing decisions and purchasing activities (collectively Supply Management) serve to link a company with its upstream supply chain partners Supply Management is..... correct answers ...the broad set of activities carried out by organizations to: - an...

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  • August 7, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • supply management defined

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  • OMGT

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OMGT TEST 2 3123 ECU || 100% PASSED ANSWERS.
Supply Management Defined correct answers Sourcing decisions and purchasing activities
(collectively Supply Management) serve to link a company with its upstream supply chain
partners

Supply Management is..... correct answers ...the broad set of activities carried out by
organizations to:
- analyze sourcing opportunities
- develop sourcing strategies
- select suppliers
- analyze and negotiate price and cost
- carry out all the activities required to procure goods and services

Why is Supply management is critical for global correct answers to compete globally for
advances in information systems and changes in environment. "______-______"-ask Kirchoff

Why is Supply management is critical financial impact for the average manufacturer because
correct answers nearly 60% of the product value comes from material, on average

Over 60% of firms total COGS is controlled by correct answers Purchasing

Supply management represents a major opportunity correct answers to increase profitability

Pretax earnings increased correct answers % increase = (COGS X %) / pretax earnings

Pretax profit old correct answers = Pretax earnings / Sales (how much you make on every $1
of sales)

To increase profit through sales requires: correct answers (COGS X %) / Pretax profit old =
## increases ( from old Sales to (sales + ##)

Why Supply Management is critical for performance impact correct answers Quality
Delivery
Technology
Responsiveness
Similar management goals
Problem solving

Study Performance impact chart chapter 7 slide 12 correct answers

The Supply Management (SM) process correct answers 1. Assess Opportunities

2. Profile internally/ externally

3. Develop the Sourcing Strategy

4. Screen Suppliers and create selection criteria

5. Conduct Supplier Selection

, -Negotiate
-Ordering *procure to pay cycle*
-Follow up and expediting *pay cycle*
-Receipt and inspection *pay cycle*
-settlement & payments *pay cycle*
-Records maintenance *pay cycle*

THE SM PROCESS :
Assess Opportunities, Profile internally / Externally, Develop the sourcing Strategy and
Screen Suppliers and create Selection Criteria correct answers Typically, more strategic and
difficult to accomplish

THE SM PROCESS:
Ordering, Follow up and expediting, receipt and inspection, Settlement & Payments, and
Records maintenance correct answers Typically, more tactical and easier to accomplish

1. Assess Opportunities correct answers Spending analysis on the company bulk spending
and suppliers highest spending

1. Assess Opportunities firms purchasing needs correct answers New Projects and Existing
Projects

2. Profile Internally / Externally - Sourcing decisions are high-level, often strategic decisions:
correct answers Which product will use resources within the firm and products will be
provided by external supply chain?

2. Profile Internally / Externally have correct answers Insourcing and Outsourcing

Insourcing correct answers The use of resources within the firm
to provide products or services

Outsourcing correct answers The use of supply chain partners
to provide products or services

The SM Process: Profile and Strategy Pros of Insourcing correct answers High degree of
control, Ability to oversee the entire program, and economies of scale and / or scope

The SM Process: Profile and Strategy Cons of Insourcing correct answers Required strategic
flexibility, Required high investment, and Loss of access to superior products and services
offered by potential suppliers

The SM Process: Profile and Strategy Pros of outsourcing correct answers High strategic
flexibility, Low investment risk, Improved cash flow, and Access to state-of-the-art products
and services

The SM Process: Profile and Strategy Cons of Outsourcing correct answers Possibility of
choosing a bad supplier, Loss of control over the process and core technologies,
Communication and coordination challenges, and "Hollowing out" of the corporation

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