Exam (elaborations)
SCMN-3730 Exam 1 solutions || with verified answers graded A+ || latest update 2024/2025
- Course
- Institution
SCMN-3730 Exam 1 solutions || with verified answers graded A+ || latest update 2024/2025
[Show more]
Content preview
SCMN-3730 Exam 1 solutions || with verified answersgraded A+ || latest update 2024/2025
Michael Porter's Value chain
- Support activities
- primary activities
Support activities (Michael Porter's value chain)
- firm infrastructure
- human resource management
- tech development
- procurement
Primary activities (Michael Porter's value chain)
- inbound logistics
- operations
- outbound logistics
- marketing and sales
- service
Procurement and supply purchasing
source from 2nd tier and first tier suppliers
elements of strategic orientation
1. business strategy cycle
2. strategic procurement cycle
3. procurement sub-processes
business strategy cycle
○ Articulate vision, mission and goals
○ Scan environment
○ Develop strategic priorities and plans
○ Implement
○ Evaluate and learn
,strategic procurement cycle
○ Articulate procurement's vision, mission and goals
○ Situation Analysis
○ Develop procurement strategy
○ Implement procurement strategy
○ Continuous improvement
procurement sub-processes
○ Sourcing
○ Managing supplier relationships
○ Ordering cycle
benefits of cost reduction
- increases margin (regardless of sales increase)
lead time
The amount of time between the recognition that an order needs to be placed and
the arrival of the needed merchandise at the seller's store, ready for sale.
ways to decrease lead time
Stabilize- the amount of time it takes for the product to arrive
Reduce- the amount of time it takes for the product to arrive
Ensure- the amount of time it takes for the product to arrive
organizational imports
Focal organization:
- innovation
- risk
- environmental impact
- quality
value advantage
○ Quicker response
○ Improved quality
○ Increased reliability
○ Improved relationships
, ○ Manage and mitigate risks
○ Source innovation
cost advantage
○ Efficiency gains / utilization
○ Reduce purchasing costs
○ Reduce in inventory levels
○ Sharing capital investment
○ Reduced waste
decentralized procurement structure
________ procurement organization with no corporate role
- lowest central purchasing control
- highest local P&L responsibility
pros of decentralized procurement structure
■ Divisional control
■ "Flat" organization structure - clear accountability
■ Optimal local supply base and service
cons of decentralized procurement structure
■ No corporate leverage
■ No sharing of best practices/approaches
■ No "company-wide" measurement and tracking
coordinated procurement structure
Decentralized sourcing, but center led strategy
Voluntary commodity strategy collaboration across BU
- 2nd lowest central purchasing control
- 2nd highest local P&L responsibility
pros of coordinated procurement structure
■ Divisional control
■ Sharing of best practices and procurement strategies
cons of coordinated procurement structure
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 tutorWADE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $21.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now