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purchasing

QuestionAnswer
Planning processes help you use resources to generate and fill demand to meet your financial plan first step in score
Sourcing processes help you build an effective sourcing and select the best suppliers second step in score
Make: production processes help you transform inputs into a finished product that customers value third step in the score
Deliver: logistics processes help you manage inbound delivery of materials--both inbound and outbound. fourth step in a score
Return processes help you manage the return of products for any reason. the fifth step in score
Enabling processes help you support plan source make deliver return value activities. the sixth step in score
The first right of purchase: _______ the right material obtaining
The second right of purchase: in the right quantity
The third right of purchase: at the right time
The fourth right of purchase: for delivery to the right place
The fifth right of purchase: from the right supplier which is most important
The sixth right of purchase: with the right service
The seventh right of purchase: at the right price
It is the amount of extra sales dollars needed to have the same impact of $1 saved by purchasing's cost-cutting efforts. Profit leverage effect
$1 saved by purchasing is an additional $1 operating profit. An additional $1 increased sales only increases profit by the operation profit percentage. Why is the profit leverage effect so high?
Direct or raw materials: direct inputs to you firm's final product or service
materials that do not go directly into the product, but facilitate its creation. Indirect materials
aggregation of requirements & leverage, economies of scale/learning, standardization, duplication, more effective supply strategy, fewer suppliers, closer relationships with key suppliers, talent development. centralized structure advantages
increased bureaucracy, reduced flexibility, slower than decentralized. centralized structure disadvantages
more responsive to local needs. better understanding of local requirements, closer relationship with internal customers, more effective use of local suppliers, better risk assessment and response. decentralized structure advantages
leads to duplication, reduces leverage, more costly than centralized decentralized structure disadvantages
Ensure that any personal business and other activities do not conflict with the lawful interests of your employer. conflict of interest
Avoid improper reciprocal agreements reciprocity
Created by: 1638250176451631