SCMN Test 2 Questions With Correct
Answers A+
Supply Management - Answersupply management as the identification, acquisition, access,
positioningand management of resourcesand related capabilities the organization needs or
potentially needs in the attainment of its strategic objectives
Strateg...
Supply Management - Answer✔supply management as the identification, acquisition, access,
positioningand management of resourcesand related capabilities the organization needs or
potentially needs in the attainment of its strategic objectives
Strategic Sourcing - Answer✔an institutional procurement process that continuously improves
and re-evaluates the purchasing activities of a company.
- want select suppliers that are best suited to create knowledge and value in customer-supplier
interface
Procurement - Answer✔the purchase of merchandise or services at the optimum possible total
cost in the correct amount and quality.
Goal of Supply Management - Answer✔buy products and services:
-at the right price
-from the right source
-at the right specification
-in the right quantity
-for delivery at the right time
-to the right internal customer
Supply Management Importance - Answer✔Ability to generate a sustainable advantage through
lower costs, higher quality, and better service from our global supply base of trading partners
Direct Materials - Answer✔used in production process and affects product value
Indirect material - Answer✔used outside production processes
Procurement Process - Answer✔- Identify material & service needs
- Evaluate supplier options
- Select supplier
- Release orders and receive products
- Measure and manage performance
Why do you want to be safe during the procurement process? - Answer✔You do not want to
haphazardly evaluate options or make a decisions based on incomplete information
Goal of strategic sourcing - Answer✔We simply want to figure out what to buy from whom to
achieve:
- Quality
- Timeliness
- Lower cost
How strategic sourcing differs from other sources? - Answer✔• Data-driving decision making
- Total cost of ownership
- Supplier performance analysis
• Focuses on improving supplier relationships
- Reduced number of suppliers and awards
•More communication, face-to-face meetings
-- how we can make the process better?
-- how we can make the product better?
-- how we can make our supply chain more efficient overall?
Reasoning to do or not to do strategic sourcing - Answer✔•Why
-- Price
-- Capacity
-- Capability
-- Cost reduction
-- Management focus
•Why Not
-- Cost
-- Knowledge protection
-- Leverage
-- Lack of external knowledge
-- Core competency
Make or buy analysis - Answer✔the process of determining the most attractive alternative
involves comparing the costs avoided to costs of outsourcing
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