Summary: Purchasing Management
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Read the summary and the most important questions on Purchasing Management
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Lecture 1: Kick off
This is a preview. There are 8 more flashcards available for chapter 07/12/2015
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In what does Purchasing Management differn from SCM?
1. Supply Chain Management also encompasses all logistic activities
2. SCM entails management of relationships not only with the first tier suppliers, but also with lower tier suppliers -
What is the Purchasing Process Model?
1. Internal customer
2. Specification
3. Selecting
4. Contracting
5. Ordering
6. Expediting
7. Follow up
8. Supplier -
Which steps of the Purchasing Process Model have a tactical/initical function?
2. Specification
3. Selection
4. Contracting -
Which steps of the Purchasing Process Model have an operational function?
5. Ordering
6. Expediting
7. Follow up -
What is happening in the 3rd phase: selection?
-From who do you want it?
-Market
-Suppliers
-Criteria -
What is happening in the 4th phase: Contracting?
-How will the contract be defined?
-Risks
-Legal aspects
-Trends and developments -
Lecture 2: Purchasing organizations & buing behaviour
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What is meant with adding of value regarding the imporantce of purchasing?
-To improve competitive position, company need to focus on core business
-Non-core activities can be outsourced to specialists suppliers since they often produce for lower costs and with higher value-added than the buyer -
What is meant with saving costs regarding the importance of purchasing?
-In average appr. 50% of the cost of sold goods are taken up by purchased materials & services
-Small reduction of purchasing costs can increase Return on Investment -
What is the DuPont analysis?
Shows that a small change/reduction can have an enourmous influence on Return on Ivestment -
How to improve ROI (3 ways)?
1. Reduction of all direct material costs
2. Reduction of net working capital employed: JIT, leasing
3. Improving revenue generating potential: innovation
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