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9 terms

Procurement Test 1

Chapter 1 Intro to Supply Managemet
STUDY
PLAY
What is Supply Management?
The part of the supply chain management that is responsible for "the identification, acquisition, access, positioning, management of resources, and related capabilities the organization needs or potentially needs in the attainment of strategic objectives.
Where is purchasing involved in supply management?
Everywhere
What are the corporate supply challenges?
sustainability (profit, environment, social), security (physical intellectual), risk management ( supply of materials, financial, reputation), indirect spend management, improve flexibility, responsiveness innovation while maintaining efficiency and consistency of supply)
What are the opportunities for Contribution of the Supply Function?
Profit-leverage effect, return on assets affect, information source, effect of competitive position, effect on organizational risk
Major factors that influence supply management decisions?
Public or Private (purchasing policies are different)
Product vs service (tangible or intangible ), organizational complexity, firm spend ratio
What are purchasing contributions?
Operational (trouble prevention)
Strategic ) Opportunity Maximization
What are purchase's contributions direct and indirect?
Direct- bottom line impact, indirect enhancing performance of others
What is supply chain management?
Integrating function links major business functions and business processes.
What is a supply chain management organization?
A firms formal organization(s) that conducts supply chain operations within the five core processes of plan, source, make, deliver and return