SCMN 2150 Test 2 Exam |85
Answered Questions
supply management - -The identification, acquisition, access, positioning,
management of resources and related capabilities the organization needs or
potentially needs in the attainment of its strategic objectives
- strategic sourcing - -an institutional procurement process that
continuously improves and re-evaluates the purchasing activities of a
company
- procurement - -the purchase of merchandise or services at the optimum
possible total cost in the correct amount and quality
- 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 - -6 specifics of buying products and services
for procurement
- buy products and services - -the 'what' of the focus of procurement
- Understand business requirements
Streamline purchasing processes
Identify better sources of supply - -the 'how' of the focus of procurement
- 1. Monitor KPIs and take corrective action, to ensure value is provided by
suppliers
2. Create visibility into process and performance across the entire supply
management life cycle - -2 reasons why it is important to evaluate suppliers
- key performance indicator - -KPI
- quality, cost, service, value added extras - -what needs to be measured?
- meets specs - -aspects of quality
- cost competitive - -aspects of cost
- fill rate, timeliness, exceptions - -aspects of service
, - perfect purchase order percent - -Order arrives on time, without defects,
and with perfect documentation at the right location with correct quantities
of all SKUs ordered
- production - -the process by which inputs are combined, transformed, and
turned into outputs. May involve products and/or services
- manufacturing - -to transform materials via assembly, fabrication,
conversion processes into a finished product, especially by means of a large-
scale industrial operation
- input - -a resource used in the creation of output
- transformation - -the operation or action that takes place
- output - -what is created by transforming the inputs
- goods and services - -output examples
- human resources, facilities and processes, technologies, materials - -input
examples
- original equipment manufacturer - -OEM
- cardboard/paperboard - -example of continuous flow
- housing industry - -example of project
- gibson electric guitar - -example of manufacturing cell
- ford car - -example of assembly line
- custom built boat (yacht), satellites - -example of work center
- break-even analysis - -a basic mathematical technique that allows a
comparison of total costs for different processes; takes the fixed costs and
variable costs and finds the break-even point for which the cost of two or
more processes are equal in cost
- break-even analysis - -Number of units that must be sold in order to
produce a profit of zero (recovers relevant costs)
- assembly line balancing - -The process of optimizing an assembly line to
minimize costs and maximize gains
- workstation cycle time - -WCT
Answered Questions
supply management - -The identification, acquisition, access, positioning,
management of resources and related capabilities the organization needs or
potentially needs in the attainment of its strategic objectives
- strategic sourcing - -an institutional procurement process that
continuously improves and re-evaluates the purchasing activities of a
company
- procurement - -the purchase of merchandise or services at the optimum
possible total cost in the correct amount and quality
- 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 - -6 specifics of buying products and services
for procurement
- buy products and services - -the 'what' of the focus of procurement
- Understand business requirements
Streamline purchasing processes
Identify better sources of supply - -the 'how' of the focus of procurement
- 1. Monitor KPIs and take corrective action, to ensure value is provided by
suppliers
2. Create visibility into process and performance across the entire supply
management life cycle - -2 reasons why it is important to evaluate suppliers
- key performance indicator - -KPI
- quality, cost, service, value added extras - -what needs to be measured?
- meets specs - -aspects of quality
- cost competitive - -aspects of cost
- fill rate, timeliness, exceptions - -aspects of service
, - perfect purchase order percent - -Order arrives on time, without defects,
and with perfect documentation at the right location with correct quantities
of all SKUs ordered
- production - -the process by which inputs are combined, transformed, and
turned into outputs. May involve products and/or services
- manufacturing - -to transform materials via assembly, fabrication,
conversion processes into a finished product, especially by means of a large-
scale industrial operation
- input - -a resource used in the creation of output
- transformation - -the operation or action that takes place
- output - -what is created by transforming the inputs
- goods and services - -output examples
- human resources, facilities and processes, technologies, materials - -input
examples
- original equipment manufacturer - -OEM
- cardboard/paperboard - -example of continuous flow
- housing industry - -example of project
- gibson electric guitar - -example of manufacturing cell
- ford car - -example of assembly line
- custom built boat (yacht), satellites - -example of work center
- break-even analysis - -a basic mathematical technique that allows a
comparison of total costs for different processes; takes the fixed costs and
variable costs and finds the break-even point for which the cost of two or
more processes are equal in cost
- break-even analysis - -Number of units that must be sold in order to
produce a profit of zero (recovers relevant costs)
- assembly line balancing - -The process of optimizing an assembly line to
minimize costs and maximize gains
- workstation cycle time - -WCT
