Buad 331 module 7 - Study guides, Class notes & Summaries

BUAD 331 Module 7 How can purchasing add value to an organization? - correct answer All of the above (and MORE) are ways that purchasing can contribute to organizational success. - By ensuring an uninterrupted flow of materials or services - By reducing the total cost of products - By collaborating with other areas such as logistics on supplier location decisions. - By increasing revenue through supplier innovation and new product launch Both objective and subjective measures are used t...

BUAD 331- Module 7 (Knowledge Check & Module Exam) Latest Update Actual Exam Questions and 100% Verified Correct Answers Guaranteed A+

BUAD 331- Module 7 (Knowledge Check & Module Exam)Sourcing is the inputs (or things we buy), including materials, sub-assembled components, equipment, and services, that are required to create value. TRUE or FALSE - correct answer 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 - correct answer B.) Customers When purchasing and supply management works well ...

BUAD 331 Module 12, 13, 14 Knowledge ChecksDefine order cycle time - correct answer The total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled The difference between the customer's desired order cycle time and total supply chain order cycle time is known as: - correct answer Lead time gap The economic order quantity (EOQ) model aims to: - correct answer Calculate the optimal amount of inventory to be reordered by balancing ordering costs ...