Summary: Purchasing And Supply Chain Management | 9781408088463
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1 The role of purchasing in the value chain
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What are the 6 steps in the purchasing function?
Determining specification, selecting supplier, contracting, ordering, expediting and evaluation, follow-up and evaluation. -
What is a category?
A group of products which can be substituted for one another by a consumer -
What is a sourcing strategy?
Identifies for a certain category from how many suppliers to buy, what type of relationship to pursue, contract duration, type of contract to negotiate for, and whether to source locally, regionally or globally. -
What is a partner?
A (supplier) partner is defined as a firm with whom your company has an on-going buyer-seller relationship, involving a commitment over an extended period, a mural sharing of information and a sharing of risks and rewards resulting form the relationship. -
What are the three ways to improve the company's RONA?
Through reduction of all direct materials costs, through a reduction of the net working capital employed by the company and through improving the company's revenue generating potential. -
What are the challenges and changes in the purchasing's context?
- Global sourcing
- Corporate social responsibility (CSR)
- Earlier supplier involvement (EVI)
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2 Industrial buying behavior: decision-making in purchasing
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What are important characteristics of industrial markets?
- Professional purchasing
- Derived demand
- Inelastic, fluctuating demand
- Geographical concentration
- Large order quantities and large amounts of money involved
- Limited number of customers
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What are the 6 steps of the purchasing process?
- Define specification
- Select supplier
- Contract agreement
- ordering
- Expediting
- Evaluation
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What are the parts of the purchase order specification?
- quality specification
- logistics specifications
- A maintenance specification
- legal and environment requirements
- a target budget
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3 The purchasing management process
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What are the primary tasks and responsibilities in purchasing?
- Operational excellence
- Cost control and reduction of all purchasing-related spend
- Risk management
- Continuous improvement
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