Exam (elaborations)
UARK SCMT 3613 SUMMER EXAM 1
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UARK SCMT 3613 SUMMER EXAM 1
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UARK SCMT 3613 SUMMER EXAM 13 primary processes - ANSWER-strategic sourcing, ordering cycle, supplier relationship
management (SRM)
Align contract points - ANSWER-• Engaging key stakeholders to develop a structure to
work well together
• Defines who talks to who? About what do they talk? What frequency do they talk?
• Organizes touch points across our organizations levels
• Speaking with one voice to suppliers grows effectiveness
• Tool: 3 tier contact pyramid
Aligning segmentation - ANSWER-o Making sure the customer segmentation matches
with the supplier segmentation
Approaching implementation wisely - ANSWER-o You can't assume everyone will
accept procurement's role
o Change management
• Step 1: The Pitch - make the case (internally to executives)
• Step 2: Prepare - get ready (avoid going too far too soon), (internal homework: tooling,
templates, playbook, training)
• Step 3: Pilot - proof of concept and get some resourcing (handful of suppliers,
demonstrate ROI)
• Step 4: propel - grow the program and returns
automating the ordering cycle - ANSWER-o can be coupled with vendor administration
• administrative process that involves setting up suppliers in our system so : we know
them, we recognize them, and can process their invoices
avoids value leak and risky non compliance - ANSWER-• placing orders with suppliers
that we didn't contract
• placing orders with suppliers that may have issues in service or ethics
Benefits of automating the order cycle - ANSWER-o Ease of use
, o Driving compliance
o Hands free/ seamless service
o Frees up time for strategic aspects of procurement
Buy from the right suppliers - ANSWER-Nice car buy from salesman cheap car buy
from Junkyard
Buying the right things - correct specifications - ANSWER-• Technological standards
• Quality levels
• Services (including delivery)
• Price
• Costs
contract management - ANSWER-• process where we administer and maintain the
contracts that we have agreed upon with suppliers in the market
Cross functional teams - ANSWER-o A group made of different expertises working on a
common goal
• Include employees of all levels of business
• Key units need to be represented
• All team members are well informed of the business needs or at least have access to
them
• Team members are empowered to represent their organization
• The team actively works together
• mid way changes can cause a loss of credibility
Decision matrix - ANSWER-o Used to evaluate suppliers proposals
o Used to decide on negotiation strategy
o Used to make recommendations to steering committee about contracts
o Scores are weighted for selection criteria
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