Purchase and sourcing - Guides d'étude, Notes de cours & Résumés

Supply Chain A system of organizations, people, activities, information, and resource involved in moving a product or service from supplier to customer. Supply chain activities involve the transformation of natural resources, raw materials, and components into a finished product that is delivered to the end customer Supply chain management encompasses the planning and management of all activities involved in sourcing and procurement, conversion, and all logistics management...

SCMN-2150 Test 2 Questions And Revised Correct Answers What is a procurement? - ANSWER : Purchase of merchandise/services at the optimum total cost, correct quantity, time and quality (day to day purchasing function) What is strategic sourcing? - ANSWER : 1) what to buy and from where (focus on improving) 2) The institutional process that continuously re-evaluates and improves the purchasing activities of a company. Differences between traditional purchasing and strategic sourc...

CIPS L4M4 LO1 What is sourcing? - correct answer Sourcing is the location, acquisition and management of all the vital inputs required for an organization to operate. What is tactical/operational sourcing? - correct answer Low-level decision making High profit, low risk items Short-term projects Transactional relationships What is strategic sourcing? - correct answer Top-level decision making High-profit, high-risk items Long-term projects Collaborative relationships What aspe...

BUAD 331 Exam 2purchasing professionals - correct answer manage all of the firm's buyer-supplier relationships and serve internal customers who work in other functions in the organization procurement/supply management - correct answer strategic approaches and processes used to secure needed inputs into the organization to create relevant value sourcing - correct answer identifying the requirements, locations, and identity of specific companies and providers that may be used to acquire var...

What is procurement? correct answers - the purchase of merchandize or services at the optimum possible total cost in the correct amount and quality --> Best price, quantity, and quality --> day to day purchasing function What is Strategic Sourcing? correct answers institutional procurement process that continuously improves and re-evaluates the purchasing activities of a company. -->focuses on improving procurement process What is Outsourcing? correct answers (a strategic sou...

BUAD 331 Exam 2 Questions and Answers Already Passed Sourcing is the inputs (or things we buy), including materials, sub-assembled components, equipment, and services, that are required to create value. A. True B. False B. False Which of the following is NOT an area in which successful supply managers need expertise? A. Technologies B. Customers C. Suppliers D. Processes E. Resources B. Customers When purchasing and supply management works well within an organization, the com...

Spending Chain is made up of two sub-processes: - •The Acquisition Process is made up of the Material Master Data, the Vendor Master Data and the Procurement of Goods or Services. •The Accounts Payable Process is made up of Post Invoice and Payment Programs. Material and Vendor Master Data - The first step in the Acquisition Process is Material and Vendor Master Data. This lesson walks GFEBS Users through the creation and maintenance of master data as it relates to Spending Chain. It a...

CIPS L4M1 - Question & Answer 2024 with complete solutions O1. Outline FIVE differences between purchasing goods and purchasing services. - ANSWERS1. Goods are tangible, services are intangible: 2. Services cannot be separated from their supplier: 3. Heterogeneity: goods are usually uniform in nature while services are unique at each delivery 4. Services 'perish' immediately on delivery whereas goods can be stored until required 5. Products are easier to specify, being tangible ...

3-Way Match correct answers Procurement Process 1. Purchase Requisition, Generated by Business Unit. 2. Approved Purchase Req sent to Procurement 3. Procurement assigns Buyer and identifies existing approved suppliers. 4. If no suppliers, a Sourcing Process is initiation, otherwise a PO is placed. 5. Supplier delivers Products or Goods (remits invoice) 6. Receiving Department logs Receipt and Packing Slip 7. Finance completes a "3-way Match" to ensure the PO, Invoice and Packing Sl...

SCMN 2150 Test 2 with Complete Solutions 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 th...