Scmn 2150 test - Study guides, Class notes & Summaries

What is procurement? : The purchase of merchandise or services at the optimum possible total cost in the correct amount and quality. How does procurement differ from strategic sourcing and supply management? : Procurement is buying the merchandise or services while SS tries to improve the buying process and SM is setting up in order to attain what it needs. What is strategic sourcing? : The process of analyzing an organization's spending and using the analysis to make effective decis...

SCMN 2150 Test 1 Questions And Answers Rated A+. what is scm - correct answer. The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? - correct answer. suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? - correct answer. the consumer What does SCM involve? - correct answer. all the activities that...

SCMN 2150 Test 2 Exam Questions And Answers (Updated And Verified) The purchase of merchandise at the optimum total cost, at the right time, in the right quantity - answerProcurement A company process that continuously re-evaluates and improves upon the companies procurement process - answerStrategic Sourcing The identification use and management of the resources a company needs to meet its goals - answerSupply management What is the goal of the procurement process? - answerhigher qualit...

SCMN 2150 Test 1 Questions And Answers Verified By An Expert What is Supply Chain Management? - ANS the art of managing the flow of materials, products, information, and financial resources from source to user. Why is SCM important? (4) - ANS It provides valuable opportunities to create competitive advantage: 1. develop collaborative, trusting relationships 2. rationalize product touch points 3. drive out costs and achieve tremendous efficiencies 4. improve customer satisfaction Co...

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 ri...

SCMN 2150 Test 2 Auburn University Questions & Answers 2023/2024 The purchase of merchandise at the optimum total cost, at the right time, in the right quantity - ANSProcurement A company process that continuously re-evaluates and improves upon the companies procurement process - ANS-Strategic Sourcing The identification use and management of the resources a company needs to meet its goals - ANSSupply management What is the goal of the procurement process? - ANS-higher quality lower cos...

What is procurement? - Answer-process of actually purchasing goods and services How does procurement differ from strategic sourcing? - Answer-Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? - Answer-obtain (goods or a service) from an outside or foreign...

SCMN 2150 Test 2 Questions And Answers (Updated And Verified) Supply management - answerThe 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 - answeran institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company procurement - answerthe purchase of merchandise or services at th...

SCMN 2150 Test 2 with complete solution ( Latest updated )

what is scm - correct answer The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? - correct answer suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? - correct answer the consumer What does SCM involve? - correct answer all the activities that take place to get a product in your hands - from the time of raw materials ...